Voloridge Investment Management LLC acquired a new position in shares of 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 44,461 shares of the bank’s stock, valued at approximately $1,187,000.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Metropolitan Life Insurance Co NY grew its holdings in First Hawaiian by 21.5% during the 1st quarter. Metropolitan Life Insurance Co NY now owns 3,192 shares of the bank’s stock valued at $83,000 after purchasing an additional 564 shares in the last quarter. BB&T Corp acquired a new position in shares of First Hawaiian in the second quarter worth about $224,000. Los Angeles Capital Management & Equity Research Inc. boosted its holdings in First Hawaiian by 17.6% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 411,872 shares of the bank’s stock valued at $10,655,000 after purchasing an additional 61,610 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in First Hawaiian by 11.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,297 shares of the bank’s stock valued at $215,000 after purchasing an additional 875 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in First Hawaiian by 15.7% in the second quarter. First Trust Advisors LP now owns 285,183 shares of the bank’s stock valued at $7,378,000 after purchasing an additional 38,698 shares during the last quarter. Institutional investors own 96.82% of the company’s stock.
Shares of FHB opened at $29.31 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.82 and a quick ratio of 0.82. First Hawaiian Inc has a 12-month low of $21.19 and a 12-month high of $29.47. The business’s fifty day moving average price is $28.57 and its 200 day moving average price is $26.72. The stock has a market capitalization of $3.80 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 4.51 and a beta of 1.16.
First Hawaiian (NASDAQ:FHB) last issued its earnings results on Thursday, October 24th. The bank reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.54 by $0.03. First Hawaiian had a net margin of 32.03% and a return on equity of 11.41%. The company had revenue of $143.10 million for the quarter, compared to analysts’ expectations of $145.43 million. During the same period in the prior year, the company earned $0.52 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, research analysts anticipate that First Hawaiian Inc will post 2.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Monday, November 25th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, November 22nd. This represents a $1.04 annualized dividend and a yield of 3.55%. First Hawaiian’s dividend payout ratio (DPR) is 49.76%.
Several equities research analysts have issued reports on the company. Wells Fargo & Co set a $25.00 price objective on First Hawaiian and gave the stock a “hold” rating in a report on Friday, October 25th. Sandler O’Neill began coverage on shares of First Hawaiian in a research report on Thursday. They set a “hold” rating and a $31.00 price target for the company. BidaskClub upgraded shares of First Hawaiian from a “buy” rating to a “strong-buy” rating in a research note on Saturday, December 7th. ValuEngine downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. Finally, Zacks Investment Research lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Monday, November 11th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $27.80.
About First Hawaiian
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking 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 accepts various deposit products, including checking and savings accounts, and time deposit accounts.
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