M&T Bank Corp Purchases 1,863 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

M&T Bank Corp boosted its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 11.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,524 shares of the bank’s stock after purchasing an additional 1,863 shares during the period. M&T Bank Corp’s holdings in First Hawaiian were worth $453,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in First Hawaiian by 3.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,664,425 shares of the bank’s stock worth $146,992,000 after buying an additional 186,993 shares in the last quarter. Alliancebernstein L.P. boosted its stake in First Hawaiian by 19.7% during the fourth quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank’s stock worth $136,087,000 after buying an additional 864,420 shares during the period. Reinhart Partners LLC. boosted its stake in First Hawaiian by 15.1% during the first quarter. Reinhart Partners LLC. now owns 2,325,881 shares of the bank’s stock worth $56,845,000 after buying an additional 305,439 shares during the period. Northern Trust Corp boosted its stake in shares of First Hawaiian by 10.7% in the fourth quarter. Northern Trust Corp now owns 2,188,005 shares of the bank’s stock valued at $56,779,000 after purchasing an additional 211,399 shares during the period. Finally, Norges Bank purchased a new position in shares of First Hawaiian in the fourth quarter valued at approximately $36,266,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

First Hawaiian Price Performance

Shares of NASDAQ FHB opened at $25.24 on Thursday. The company has a market cap of $3.17 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 6.37 and a beta of 0.83. First Hawaiian, Inc. has a 12 month low of $20.32 and a 12 month high of $28.80. The company has a 50-day simple moving average of $24.44 and a 200-day simple moving average of $24.80.

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

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend was Monday, May 19th. First Hawaiian’s dividend payout ratio (DPR) is presently 56.52%.

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.