State of Wyoming Buys Shares of 24,041 First Hawaiian, Inc. $FHB

State of Wyoming purchased a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 24,041 shares of the bank’s stock, valued at approximately $704,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FHB. Oppenheimer Asset Management Inc. bought a new stake in shares of First Hawaiian in the second quarter worth $552,000. Hennion & Walsh Asset Management Inc. bought a new position in First Hawaiian in the second quarter valued at about $220,000. Reinhart Partners LLC. boosted its position in First Hawaiian by 0.7% in the second quarter. Reinhart Partners LLC. now owns 2,660,876 shares of the bank’s stock worth $77,964,000 after purchasing an additional 18,977 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in First Hawaiian by 378.5% in the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after purchasing an additional 738 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of First Hawaiian by 14.6% during the 2nd quarter. GAMMA Investing LLC now owns 7,021 shares of the bank’s stock valued at $206,000 after purchasing an additional 897 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Piper Sandler raised their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Stephens upgraded shares of First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research report on Thursday, August 6th. The Goldman Sachs Group upped their target price on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $30.25.

First Hawaiian Stock Performance

NASDAQ:FHB opened at $27.66 on Monday. The stock has a 50-day simple moving average of $28.59 and a two-hundred day simple moving average of $26.95. The firm has a market capitalization of $3.37 billion, a PE ratio of 12.03, a P/E/G ratio of 1.74 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.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The firm had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. During the same quarter last year, the company earned $0.58 earnings per share. Equities analysts forecast that First Hawaiian, Inc. will post 2.34 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 3.8%. First Hawaiian’s dividend payout ratio (DPR) is presently 45.22%.

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.