California State Teachers Retirement System Boosts Stake in First Hawaiian, Inc. $FHB

California State Teachers Retirement System raised its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 37.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 162,320 shares of the bank’s stock after buying an additional 44,423 shares during the quarter. California State Teachers Retirement System’s holdings in First Hawaiian were worth $4,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Eurizon Capital SGR S.p.A. purchased a new stake in shares of First Hawaiian in the fourth quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. boosted its stake in First Hawaiian by 2,916.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after buying an additional 1,050 shares during the last quarter. Global Retirement Partners LLC raised its stake in First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares during the period. Eagle Bay Advisors LLC acquired a new position in First Hawaiian in the fourth quarter valued at approximately $46,000. Finally, Danske Bank A S acquired a new stake in shares of First Hawaiian during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Trading Down 0.3%

Shares of FHB stock opened at $27.49 on Friday. First Hawaiian, Inc. has a 52 week low of $22.65 and a 52 week high of $30.58. The company has a market cap of $3.34 billion, a PE ratio of 11.95, a P/E/G ratio of 1.74 and a beta of 0.73. The company’s fifty day simple moving average is $28.53 and its 200-day simple moving average is $26.94.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The company had revenue of $231.27 million for the quarter, compared to analyst estimates of $227.77 million. During the same period in the prior year, the company posted $0.58 EPS. Equities research analysts expect that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.04 annualized dividend and a yield of 3.8%. First Hawaiian’s payout ratio is presently 45.22%.

Analyst Ratings Changes

Several research firms have weighed in on FHB. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. The Goldman Sachs Group boosted their target price on First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday, July 7th. Stephens upgraded shares of First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research note on Thursday. Piper Sandler upped their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.25.

First Hawaiian Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.