Evolve Private Wealth LLC Buys Shares of 28,189 First Hawaiian, Inc. $FHB

Evolve Private Wealth LLC purchased a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 28,189 shares of the bank’s stock, valued at approximately $826,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elevation Wealth Partners LLC increased its position in shares of First Hawaiian by 378.5% during the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after buying an additional 738 shares during the period. Eurizon Capital SGR S.p.A. acquired a new position in First Hawaiian in the fourth quarter valued at $26,000. Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $27,000 after acquiring an additional 1,050 shares during the last quarter. Global Retirement Partners LLC boosted its position in First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after acquiring an additional 534 shares during the last quarter. Finally, Danske Bank A S bought a new stake in First Hawaiian during the third quarter valued at $47,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Performance

Shares of FHB opened at $26.32 on Monday. The firm has a market capitalization of $3.20 billion, a P/E ratio of 11.44, a P/E/G ratio of 1.66 and a beta of 0.73. First Hawaiian, Inc. has a 52 week low of $22.65 and a 52 week high of $30.58. The stock has a 50 day moving average price of $28.47 and a two-hundred day moving average price of $26.95.

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

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 17th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, August 17th. This represents a $1.04 annualized dividend and a yield of 4.0%. First Hawaiian’s dividend payout ratio (DPR) is 45.22%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. TD Cowen lowered their price objective on First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Wednesday, July 29th. The Goldman Sachs Group lifted their target price on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research note on Wednesday, July 1st. Wall Street Zen lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Sunday, August 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of First Hawaiian in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target 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.