Connor Clark & Lunn Investment Management Ltd. Makes New Investment in First Hawaiian, Inc. $FHB

Connor Clark & Lunn Investment Management Ltd. acquired a new position in First Hawaiian, Inc. (NASDAQ:FHB) during the second quarter, according to its most recent filing with the SEC. The firm acquired 111,351 shares of the bank’s stock, valued at approximately $3,263,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of First Hawaiian as of its most recent filing with the SEC.

Several other hedge funds have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of First Hawaiian during the second quarter valued at approximately $483,971,000. Norges Bank purchased a new stake in First Hawaiian in the fourth quarter worth $40,281,000. AQR Capital Management LLC boosted its holdings in First Hawaiian by 230.8% in the third quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank’s stock valued at $54,784,000 after acquiring an additional 1,539,415 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in First Hawaiian in the second quarter valued at $32,977,000. Finally, UBS Group AG increased its position in First Hawaiian by 176.0% during the 4th quarter. UBS Group AG now owns 1,128,002 shares of the bank’s stock valued at $28,538,000 after purchasing an additional 719,312 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FHB shares. Zacks Research lowered shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Piper Sandler lifted 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. Stephens upgraded shares of First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Sunday, August 2nd. Finally, Benchmark restated a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Two equities research 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. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $30.25.

First Hawaiian Trading Down 0.1%

Shares of First Hawaiian stock opened at $25.79 on Friday. The firm has a market capitalization of $3.14 billion, a P/E ratio of 11.21, a P/E/G ratio of 1.63 and a beta of 0.73. The business has a fifty day simple moving average of $28.26 and a two-hundred day simple moving average of $26.91. First Hawaiian, Inc. has a 12 month low of $22.65 and a 12 month high of $30.58.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $231.27 million for the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same quarter in the previous year, the business posted $0.58 EPS. Analysts predict 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 was paid on Friday, August 28th. Investors of record on Monday, August 17th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 annualized dividend and a yield of 4.0%. First Hawaiian’s 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.