Arrowstreet Capital Limited Partnership Buys 135,809 Shares of First Hawaiian, Inc. $FHB

Arrowstreet Capital Limited Partnership grew its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 11.4% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,325,860 shares of the bank’s stock after buying an additional 135,809 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.06% of First Hawaiian worth $33,093,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of First Hawaiian by 199.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank’s stock valued at $26,000 after acquiring an additional 705 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in First Hawaiian by 11,325.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock worth $34,000 after purchasing an additional 1,359 shares in the last quarter. Headlands Technologies LLC bought a new position in First Hawaiian in the first quarter valued at about $44,000. Kestra Investment Management LLC bought a new position in First Hawaiian in the first quarter valued at about $134,000. Finally, Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of First Hawaiian during the second quarter valued at about $154,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Trading Down 0.3%

FHB stock opened at $25.25 on Friday. The firm has a market cap of $3.12 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.62 and a beta of 0.74. The stock has a 50-day moving average price of $24.49 and a 200-day moving average price of $24.72. First Hawaiian, Inc. has a 1-year low of $20.32 and a 1-year high of $28.28.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Monday, August 9th. The bank reported $0.44 EPS for the quarter. The business had revenue of $129.16 million during the quarter. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%. 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 disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were paid a $0.26 dividend. The ex-dividend date was Monday, November 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.1%. First Hawaiian’s payout ratio is currently 50.73%.

Analyst Upgrades and Downgrades

FHB has been the topic of several research reports. TD Cowen started coverage on First Hawaiian in a report on Thursday, September 25th. They set a “hold” rating and a $27.00 price target on the stock. Cowen reiterated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, October 28th. Piper Sandler boosted their target price on shares of First Hawaiian from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Barclays upgraded shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $26.00 to $28.00 in a research report on Tuesday, November 11th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $27.43.

First Hawaiian 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.