Elo Mutual Pension Insurance Co Has $1.27 Million Stake in First Hawaiian, Inc. $FHB

Elo Mutual Pension Insurance Co lifted its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 94.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,139 shares of the bank’s stock after purchasing an additional 24,805 shares during the period. Elo Mutual Pension Insurance Co’s holdings in First Hawaiian were worth $1,270,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in FHB. American Century Companies Inc. increased its stake in First Hawaiian by 131.9% in the 3rd quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock valued at $71,800,000 after buying an additional 1,644,752 shares during the last quarter. Norges Bank bought a new stake in shares of First Hawaiian during the 2nd quarter valued at $35,362,000. AQR Capital Management LLC grew its stake in First Hawaiian by 109.9% during the second quarter. AQR Capital Management LLC now owns 666,946 shares of the bank’s stock valued at $16,647,000 after acquiring an additional 349,231 shares in the last quarter. Quantinno Capital Management LP increased its holdings in shares of First Hawaiian by 117.6% in the second quarter. Quantinno Capital Management LP now owns 312,038 shares of the bank’s stock worth $7,788,000 after purchasing an additional 168,649 shares during the period. Finally, AlphaQuest LLC raised its holdings in shares of First Hawaiian by 7,621.5% in the 3rd quarter. AlphaQuest LLC now owns 168,484 shares of the bank’s stock valued at $4,183,000 after acquiring an additional 166,302 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Insider Activity at First Hawaiian

In other news, Director Craig Scott Wo sold 1,500 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.21, for a total value of $40,815.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.61% of the company’s stock.

First Hawaiian Price Performance

Shares of First Hawaiian stock opened at $24.95 on Friday. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.35. The firm’s 50-day moving average is $26.34 and its 200 day moving average is $25.49. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.99 and a beta of 0.71.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The business had revenue of $225.85 million during the quarter, compared to analysts’ expectations of $225.33 million. During the same period in the previous year, the company earned $0.41 earnings per share. On average, equities analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.2%. The ex-dividend date was Friday, February 13th. First Hawaiian’s dividend payout ratio (DPR) is currently 47.27%.

Analyst Ratings Changes

Several brokerages recently weighed in on FHB. Zacks Research cut First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Piper Sandler dropped their price objective on First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Weiss Ratings reissued a “hold (c+)” rating on shares of First Hawaiian in a research note on Monday, December 29th. JPMorgan Chase & Co. upped their target price on First Hawaiian from $28.00 to $29.00 and gave the company an “underweight” rating in a report on Monday, February 2nd. Finally, Barclays raised First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $26.00 to $28.00 in a research note on Tuesday, November 11th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $27.50.

First Hawaiian Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.