Aviva PLC Acquires New Position in First Hawaiian, Inc. (NASDAQ:FHB)

Aviva PLC purchased a new position in First Hawaiian, Inc. (NASDAQ:FHB – Get Rating) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 26,160 shares of the bank’s stock, valued at approximately $681,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. CWM LLC grew its stake in shares of First Hawaiian by 355.2% during the 3rd quarter. CWM LLC now owns 1,006 shares of the bank’s stock worth $25,000 after purchasing an additional 785 shares during the period. Ronald Blue Trust Inc. grew its stake in shares of First Hawaiian by 53.8% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,280 shares of the bank’s stock worth $32,000 after purchasing an additional 448 shares during the period. Parallel Advisors LLC grew its stake in shares of First Hawaiian by 40.5% during the 4th quarter. Parallel Advisors LLC now owns 1,405 shares of the bank’s stock worth $37,000 after purchasing an additional 405 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of First Hawaiian by 847.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the bank’s stock worth $49,000 after purchasing an additional 1,796 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of First Hawaiian during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 97.77% of the company’s stock.

Insider Transactions at First Hawaiian

In related news, CEO Robert S. Harrison purchased 23,500 shares of First Hawaiian stock in a transaction dated Thursday, March 16th. The shares were acquired at an average price of $21.61 per share, for a total transaction of $507,835.00. Following the acquisition, the chief executive officer now directly owns 350,449 shares in the company, valued at $7,573,202.89. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.52% of the company’s stock.

First Hawaiian Trading Down 3.4 %

Shares of NASDAQ:FHB opened at $16.67 on Monday. First Hawaiian, Inc. has a 1 year low of $15.08 and a 1 year high of $28.28. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 7.79, a price-to-earnings-growth ratio of 0.27 and a beta of 1.02. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.70 and a quick ratio of 0.70. The business’s 50 day moving average price is $19.32 and its 200-day moving average price is $23.75.

First Hawaiian (NASDAQ:FHB – Get Rating) last announced its quarterly earnings data on Friday, April 28th. The bank reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The firm had revenue of $216.27 million during the quarter, compared to analysts’ expectations of $190.28 million. First Hawaiian had a net margin of 29.63% and a return on equity of 12.14%. The company’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 EPS. On average, equities research analysts forecast that First Hawaiian, Inc. will post 2.03 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Monday, May 22nd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, May 19th. This represents a $1.04 dividend on an annualized basis and a yield of 6.24%. First Hawaiian’s payout ratio is currently 48.60%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of First Hawaiian from $32.00 to $26.00 and set a “market perform” rating on the stock in a research note on Thursday, April 6th. StockNews.com assumed coverage on shares of First Hawaiian in a research note on Thursday. They set a “sell” rating on the stock. Piper Sandler dropped their price objective on shares of First Hawaiian from $22.00 to $21.00 in a research note on Monday, May 1st. Wells Fargo & Company decreased their target price on First Hawaiian from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. Finally, The Goldman Sachs Group decreased their target price on First Hawaiian from $27.00 to $22.00 and set a “sell” rating on the stock in a research report on Thursday, March 30th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $23.67.

About First Hawaiian

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First Hawaiian, Inc is a bank holding company engaged in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary, First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other.