Bank of Montreal Can Grows Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Bank of Montreal Can grew its position in First Hawaiian, Inc. (NASDAQ:FHB) by 11.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,028 shares of the bank’s stock after buying an additional 2,126 shares during the quarter. Bank of Montreal Can’s holdings in First Hawaiian were worth $520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its position in First Hawaiian by 88.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,530 shares of the bank’s stock valued at $351,000 after acquiring an additional 6,366 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in First Hawaiian in the fourth quarter valued at about $215,000. Norges Bank bought a new position in First Hawaiian in the fourth quarter worth about $36,266,000. Principal Financial Group Inc. lifted its position in shares of First Hawaiian by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 619,714 shares of the bank’s stock valued at $16,082,000 after buying an additional 17,515 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of First Hawaiian by 38.3% in the 4th quarter. SG Americas Securities LLC now owns 20,740 shares of the bank’s stock valued at $538,000 after buying an additional 5,745 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

FHB has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of First Hawaiian from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group increased their price objective on First Hawaiian from $26.00 to $29.00 and gave the company a “sell” rating in a report on Monday, February 3rd. Piper Sandler boosted their target price on First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Barclays decreased their price target on First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.29.

First Hawaiian Trading Down 0.8 %

Shares of NASDAQ FHB opened at $22.46 on Tuesday. The company has a 50 day simple moving average of $24.54 and a two-hundred day simple moving average of $25.56. First Hawaiian, Inc. has a 12 month low of $19.48 and a 12 month high of $28.80. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 12.55, a PEG ratio of 3.28 and a beta of 0.77.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same quarter in the prior year, the company posted $0.37 EPS. Analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Friday, February 14th. First Hawaiian’s payout ratio is presently 58.10%.

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.