Intech Investment Management LLC Invests $831,000 in First Hawaiian, Inc. $FHB

Intech Investment Management LLC bought a new position in First Hawaiian, Inc. (NASDAQ:FHB) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 33,448 shares of the bank’s stock, valued at approximately $831,000.

Other institutional investors have also recently made changes to their positions in the company. Syon Capital LLC bought a new position in shares of First Hawaiian during the 3rd quarter valued at about $373,000. GSA Capital Partners LLP bought a new stake in shares of First Hawaiian in the third quarter worth about $720,000. Rothschild Investment LLC bought a new stake in shares of First Hawaiian in the third quarter worth about $88,000. PNC Financial Services Group Inc. lifted its position in shares of First Hawaiian by 5.5% in the third quarter. PNC Financial Services Group Inc. now owns 10,941 shares of the bank’s stock worth $272,000 after buying an additional 567 shares in the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in First Hawaiian during the third quarter valued at approximately $114,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Analysts Set New Price Targets

FHB has been the subject of a number of research reports. Zacks Research downgraded First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Hawaiian in a research note on Monday, December 29th. TD Cowen reiterated a “hold” rating on shares of First Hawaiian in a research report on Monday, February 2nd. Piper Sandler dropped their price objective on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Finally, The Goldman Sachs Group set a $27.50 price objective on shares of First Hawaiian and gave the stock a “sell” rating in a research note on Tuesday, January 6th. Six research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $27.50.

First Hawaiian Price Performance

Shares of First Hawaiian stock opened at $24.41 on Tuesday. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.94 and a beta of 0.71. The firm’s 50-day moving average is $26.28 and its two-hundred day moving average is $25.50. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.35.

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

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.3%. First Hawaiian’s payout ratio is presently 47.27%.

Insider Activity

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is currently owned by company insiders.

About First Hawaiian

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.