2,135,411 Shares in First Hawaiian, Inc. $FHB Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company acquired a new stake in First Hawaiian, Inc. (NASDAQ:FHB) in the second quarter, Holdings Channel reports. The firm acquired 2,135,411 shares of the bank’s stock, valued at approximately $62,568,000.

Several other large investors have also bought and sold shares of the stock. Eurizon Capital SGR S.p.A. bought a new stake in shares of First Hawaiian in the 4th quarter valued at about $26,000. Elevation Wealth Partners LLC raised 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 acquiring an additional 738 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in First Hawaiian by 2,916.7% in 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 increased its position in First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after purchasing an additional 534 shares during the period. Finally, Danske Bank A S acquired a new stake in First Hawaiian during the 3rd quarter valued at approximately $47,000. 97.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on FHB shares. Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. The Goldman Sachs Group increased their price objective on shares of First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, July 7th. Barclays boosted their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. TD Cowen cut their price objective on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company upped their price objective on shares of First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $30.25.

First Hawaiian Stock Performance

NASDAQ FHB opened at $25.78 on Wednesday. The company has a market capitalization of $3.14 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.64 and a beta of 0.73. The company has a 50-day simple moving average of $28.38 and a 200 day simple moving average of $26.94. First Hawaiian, Inc. has a 52-week low of $22.65 and a 52-week high of $30.58.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $231.27 million for the quarter, compared to the consensus estimate 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 in the prior year, the business earned $0.58 earnings per share. As a group, analysts forecast that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders 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 dividend yield of 4.0%. First Hawaiian’s dividend payout ratio is presently 45.22%.

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.