International Assets Investment Management LLC Acquires New Position in First Hawaiian, Inc. (NASDAQ:FHB)

International Assets Investment Management LLC acquired a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,511 shares of the bank’s stock, valued at approximately $492,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of First Hawaiian by 17.8% during the third quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock valued at $186,842,000 after buying an additional 1,561,662 shares during the period. Reinhart Partners LLC. lifted its stake in shares of First Hawaiian by 10.2% during the fourth quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock valued at $51,458,000 after buying an additional 207,652 shares during the period. Yacktman Asset Management LP lifted its stake in shares of First Hawaiian by 0.4% during the third quarter. Yacktman Asset Management LP now owns 1,930,875 shares of the bank’s stock valued at $34,852,000 after buying an additional 6,768 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of First Hawaiian by 12.4% during the third quarter. Bank of New York Mellon Corp now owns 1,879,410 shares of the bank’s stock valued at $33,923,000 after buying an additional 207,383 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of First Hawaiian by 6.0% during the third quarter. Northern Trust Corp now owns 1,428,756 shares of the bank’s stock valued at $25,789,000 after buying an additional 80,243 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Analysts Set New Price Targets

FHB has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on shares of First Hawaiian from $18.00 to $20.00 and gave the stock an “underweight” rating in a research note on Monday, January 29th. StockNews.com raised shares of First Hawaiian to a “sell” rating in a research note on Friday, January 19th. Finally, Barclays initiated coverage on shares of First Hawaiian in a research note on Friday, March 8th. They issued an “equal weight” rating and a $25.00 target price on the stock. Three analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $21.60.

First Hawaiian Trading Down 0.6 %

FHB opened at $22.07 on Friday. The company has a fifty day simple moving average of $21.30 and a 200 day simple moving average of $20.75. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 11.99 and a beta of 1.01. First Hawaiian, Inc. has a twelve month low of $15.08 and a twelve month high of $23.22.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, January 26th. The bank reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.08). The firm had revenue of $210.14 million for the quarter, compared to analyst estimates of $201.09 million. First Hawaiian had a net margin of 20.90% and a return on equity of 9.87%. During the same period in the previous year, the business posted $0.62 earnings per share. On average, analysts forecast that First Hawaiian, Inc. will post 1.69 earnings per share for the current fiscal year.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.