Strs Ohio Invests $1.74 Million in First Hawaiian, Inc. $FHB

Strs Ohio purchased a new stake in First Hawaiian, Inc. (NASDAQ:FHB) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 71,058 shares of the bank’s stock, valued at approximately $1,737,000. Strs Ohio owned 0.06% of First Hawaiian at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FHB. Nuveen LLC purchased a new position in First Hawaiian during the 1st quarter worth $16,248,000. The Manufacturers Life Insurance Company boosted its stake in shares of First Hawaiian by 3.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 10,493,396 shares of the bank’s stock worth $256,459,000 after buying an additional 360,088 shares during the last quarter. Reinhart Partners LLC. grew its holdings in shares of First Hawaiian by 15.1% in the first quarter. Reinhart Partners LLC. now owns 2,325,881 shares of the bank’s stock valued at $56,845,000 after acquiring an additional 305,439 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of First Hawaiian during the first quarter valued at approximately $4,020,000. Finally, Jane Street Group LLC lifted its holdings in First Hawaiian by 1,034.4% during the first quarter. Jane Street Group LLC now owns 167,385 shares of the bank’s stock worth $4,091,000 after acquiring an additional 152,630 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Down 1.2%

NASDAQ FHB opened at $25.10 on Wednesday. The stock’s 50 day moving average is $25.17 and its 200 day moving average is $24.35. The firm has a market capitalization of $3.13 billion, a PE ratio of 12.94, a P/E/G ratio of 6.16 and a beta of 0.89. First Hawaiian, Inc. has a twelve month low of $20.32 and a twelve month high of $28.80.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.The company had revenue of $217.54 million for the quarter, compared to the consensus estimate of $214.67 million. During the same quarter in the prior year, the business posted $0.48 EPS. On average, research analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 18th. First Hawaiian’s dividend payout ratio (DPR) is presently 53.61%.

Wall Street Analyst Weigh In

FHB has been the topic of several research reports. Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. upped their price objective on First Hawaiian from $25.00 to $25.50 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Piper Sandler initiated coverage on First Hawaiian in a research note on Thursday, August 21st. They issued a “neutral” rating and a $26.00 target price on the stock. Barclays reiterated an “underweight” rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company boosted 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. Three analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Strong Sell” and an average price target of $27.07.

First Hawaiian Company Profile

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.