Legal & General Group Plc Acquires New Holdings in First Hawaiian, Inc. $FHB

Legal & General Group Plc bought a new position in First Hawaiian, Inc. (NASDAQ:FHB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 284,907 shares of the bank’s stock, valued at approximately $8,348,000. Legal & General Group Plc owned about 0.23% of First Hawaiian at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Illinois Municipal Retirement Fund raised its holdings in shares of First Hawaiian by 0.6% during the first quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock valued at $1,602,000 after buying an additional 397 shares during the last quarter. Evolve Private Wealth LLC boosted its position in First Hawaiian by 1.6% during the 1st quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock worth $643,000 after acquiring an additional 406 shares during the period. Parallel Advisors LLC grew its stake in shares of First Hawaiian by 11.3% in the first quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock worth $127,000 after purchasing an additional 525 shares in the last quarter. Global Retirement Partners LLC increased its holdings in shares of 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 purchasing an additional 534 shares during the period. Finally, Royal Bank of Canada increased its holdings in shares of First Hawaiian by 0.4% during the fourth quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock valued at $3,540,000 after purchasing an additional 568 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Performance

NASDAQ FHB opened at $25.25 on Wednesday. The stock has a market capitalization of $3.07 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.61 and a beta of 0.73. First Hawaiian, Inc. has a 1 year low of $22.65 and a 1 year high of $30.58. The business’s fifty day moving average is $28.14 and its two-hundred day moving average is $26.89.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $231.27 million during 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 period last year, the company posted $0.58 EPS. On average, research analysts forecast that First Hawaiian, Inc. will post 2.34 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 17th were given a $0.26 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.1%. First Hawaiian’s dividend payout ratio (DPR) is 45.22%.

Analyst Ratings Changes

Several research firms recently weighed in on FHB. JPMorgan Chase & Co. upped their price objective on shares of First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Wells Fargo & Company boosted their price target 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. Barclays upped 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 note on Tuesday, July 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Hawaiian in a report on Monday, July 6th. Finally, TD Cowen decreased their price objective on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently 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.