D.A. Davidson & CO. Raises Holdings in First Hawaiian, Inc. $FHB

D.A. Davidson & CO. grew its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 11.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,104 shares of the bank’s stock after purchasing an additional 1,519 shares during the period. D.A. Davidson & CO.’s holdings in First Hawaiian were worth $375,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FHB. Nuveen LLC purchased a new position in shares of First Hawaiian during the first quarter valued at about $16,248,000. The Manufacturers Life Insurance Company grew its position in shares of First Hawaiian by 3.6% during the first quarter. The Manufacturers Life Insurance Company now owns 10,493,396 shares of the bank’s stock valued at $256,459,000 after purchasing an additional 360,088 shares in the last quarter. Hsbc Holdings PLC purchased a new position in First Hawaiian in the first quarter worth about $4,020,000. Callan Family Office LLC grew its position in First Hawaiian by 1,476.4% in the second quarter. Callan Family Office LLC now owns 168,009 shares of the bank’s stock worth $4,194,000 after acquiring an additional 157,351 shares in the last quarter. Finally, Jane Street Group LLC grew its position in First Hawaiian by 1,034.4% in 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 in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

First Hawaiian stock opened at $24.38 on Friday. The company has a 50 day moving average price of $24.95 and a 200-day moving average price of $24.46. First Hawaiian, Inc. has a fifty-two week low of $20.32 and a fifty-two week high of $28.80. The company has a market capitalization of $3.04 billion, a PE ratio of 11.89, a P/E/G ratio of 3.48 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Monday, August 9th. The bank reported $0.44 earnings per share for the quarter. First Hawaiian had a net margin of 22.60% and a return on equity of 9.68%. The firm had revenue of $129.16 million during the quarter. On average, analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 17th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, November 17th. First Hawaiian’s payout ratio is currently 50.73%.

Analysts Set New Price Targets

FHB has been the subject of several analyst reports. Barclays raised their price objective on shares of First Hawaiian from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday. Keefe, Bruyette & Woods raised their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Tuesday. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, July 10th. Weiss Ratings downgraded shares of First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Finally, Piper Sandler raised their price objective on shares of First Hawaiian from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, First Hawaiian currently has an average rating of “Reduce” and a consensus price target of $27.50.

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.