25,002 Shares in First Hawaiian, Inc. (NASDAQ:FHB) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas bought a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 25,002 shares of the bank’s stock, valued at approximately $611,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FHB. Jones Financial Companies Lllp bought a new position in shares of First Hawaiian in the fourth quarter worth about $36,000. Amundi lifted its holdings in shares of First Hawaiian by 186.5% during the fourth quarter. Amundi now owns 64,503 shares of the bank’s stock worth $1,617,000 after buying an additional 41,989 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of First Hawaiian by 20.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 35,911 shares of the bank’s stock valued at $932,000 after acquiring an additional 6,178 shares during the period. Swiss National Bank grew its stake in shares of First Hawaiian by 0.8% in the fourth quarter. Swiss National Bank now owns 251,567 shares of the bank’s stock worth $6,528,000 after acquiring an additional 1,900 shares during the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of First Hawaiian by 14.6% in the fourth quarter. Natixis Advisors LLC now owns 22,129 shares of the bank’s stock worth $574,000 after acquiring an additional 2,825 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Trading Down 3.8%

Shares of FHB opened at $25.05 on Wednesday. The stock has a market cap of $3.15 billion, a PE ratio of 13.61, a PEG ratio of 6.62 and a beta of 0.83. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.80. The stock has a 50 day simple moving average of $24.40 and a 200-day simple moving average of $24.80.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. First Hawaiian had a return on equity of 8.99% and a net margin of 20.36%. The firm had revenue of $211.00 million during the quarter, compared to analyst estimates of $210.24 million. During the same period in the prior year, the company posted $0.42 earnings per share. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 19th. This represents a $1.04 annualized dividend and a yield of 4.15%. First Hawaiian’s dividend payout ratio is 56.52%.

Analysts Set New Price Targets

A number of analysts have weighed in on FHB shares. Barclays reissued an “underweight” rating on shares of First Hawaiian in a report on Tuesday, July 8th. Keefe, Bruyette & Woods cut their price target on First Hawaiian from $30.00 to $28.00 and set a “market perform” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. lifted their price objective on First Hawaiian from $25.00 to $25.50 and gave the stock an “underweight” rating in a report on Tuesday, July 1st. Finally, Wells Fargo & Company upped their target price on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Thursday, July 10th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, First Hawaiian currently has an average rating of “Reduce” and an average target price of $27.64.

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.