Caprock Group LLC Purchases Shares of 22,324 First Hawaiian, Inc. $FHB

Caprock Group LLC acquired a new stake in First Hawaiian, Inc. (NASDAQ:FHB) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 22,324 shares of the bank’s stock, valued at approximately $579,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FHB. Rhumbline Advisers grew its stake in shares of First Hawaiian by 0.3% in the third quarter. Rhumbline Advisers now owns 294,179 shares of the bank’s stock worth $7,304,000 after purchasing an additional 984 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of First Hawaiian by 101.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 22,540 shares of the bank’s stock worth $560,000 after buying an additional 11,370 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of First Hawaiian by 26.7% in the 3rd quarter. Smartleaf Asset Management LLC now owns 4,000 shares of the bank’s stock worth $100,000 after buying an additional 842 shares during the last quarter. Savant Capital LLC raised its holdings in shares of First Hawaiian by 5.4% during the third quarter. Savant Capital LLC now owns 27,740 shares of the bank’s stock valued at $689,000 after acquiring an additional 1,420 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its holdings in shares of First Hawaiian by 230.9% during the third quarter. Hantz Financial Services Inc. now owns 4,537 shares of the bank’s stock valued at $113,000 after acquiring an additional 3,166 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

First Hawaiian Stock Performance

FHB stock opened at $26.40 on Wednesday. The firm has a 50 day moving average price of $26.51 and a 200-day moving average price of $25.40. First Hawaiian, Inc. has a 52-week low of $20.32 and a 52-week high of $28.35. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 2.08 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.The company had revenue of $199.68 million during the quarter, compared to analyst estimates of $225.33 million. During the same quarter last year, the company earned $0.41 EPS. As a group, sell-side analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, February 13th. First Hawaiian’s dividend payout ratio (DPR) is currently 47.27%.

Insider Transactions at First Hawaiian

In other news, insider Alan Arizumi sold 6,566 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.34, for a total transaction of $166,382.44. Following the sale, the insider owned 1,962 shares in the company, valued at $49,717.08. This represents a 76.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Craig Scott Wo sold 1,500 shares of the firm’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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 45,026 shares of company stock valued at $1,144,928. 0.61% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FHB. TD Cowen reissued a “hold” rating on shares of First Hawaiian in a research report on Monday, February 2nd. Zacks Research cut shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Piper Sandler decreased their price target 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. The Goldman Sachs Group set a $27.50 price objective on First Hawaiian and gave the company a “sell” rating in a research report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods increased their target price on First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 28th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target 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.