Commerce Bank Acquires Shares of 24,635 First Hawaiian, Inc. $FHB

Commerce Bank acquired a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 24,635 shares of the bank’s stock, valued at approximately $722,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elevation Wealth Partners LLC grew its stake 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 valued at $27,000 after acquiring an additional 738 shares in the last quarter. Eurizon Capital SGR S.p.A. acquired a new position in shares of First Hawaiian in the fourth quarter worth about $26,000. 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 purchasing an additional 1,050 shares during the last quarter. Global Retirement Partners LLC increased its holdings in First Hawaiian by 45.7% during the 4th 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 last quarter. Finally, Danske Bank A S purchased a new stake in First Hawaiian during the 3rd quarter worth approximately $47,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Price Performance

First Hawaiian stock opened at $25.96 on Thursday. First Hawaiian, Inc. has a 12 month low of $22.65 and a 12 month high of $30.58. The company has a fifty day moving average price of $28.34 and a two-hundred day moving average price of $26.93. The company has a market cap of $3.16 billion, a PE ratio of 11.29, a P/E/G ratio of 1.62 and a beta of 0.73.

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

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, August 17th. First Hawaiian’s dividend payout ratio is currently 45.22%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FHB shares. Benchmark restated a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. Stephens raised shares of First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a report on Thursday, August 6th. Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. Piper Sandler upped their target price on shares of First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. Finally, Barclays increased their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $30.25.

About First Hawaiian

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.