Quantbot Technologies LP Takes Position in First Hawaiian, Inc. $FHB

Quantbot Technologies LP purchased a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 62,969 shares of the bank’s stock, valued at approximately $1,845,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Illinois Municipal Retirement Fund increased its stake in First Hawaiian by 0.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock valued at $1,602,000 after purchasing an additional 397 shares in the last quarter. Evolve Private Wealth LLC grew its holdings in First Hawaiian by 1.6% in the first quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock valued at $643,000 after purchasing an additional 406 shares during the last quarter. Parallel Advisors LLC increased its position 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 valued at $127,000 after buying an additional 525 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of First Hawaiian by 45.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after buying an additional 534 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of First Hawaiian by 0.4% during the 4th quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock worth $3,540,000 after buying an additional 568 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on FHB. Benchmark reiterated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Piper Sandler lifted their target price on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. The Goldman Sachs Group increased their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, July 7th. Wall Street Zen cut 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 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 data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $30.25.

First Hawaiian Trading Down 1.1%

Shares of NASDAQ:FHB opened at $26.04 on Tuesday. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $30.58. The stock’s 50-day moving average price is $28.43 and its two-hundred day moving average price is $26.94. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.66 and a beta of 0.73.

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

First Hawaiian Announces Dividend

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

First Hawaiian Company 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.