Cadence Capital Management LLC acquired a new position in First Hawaiian Inc (NASDAQ:FHB) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 8,097 shares of the bank’s stock, valued at approximately $245,000.
A number of other hedge funds have also recently modified their holdings of FHB. Pacer Advisors Inc. raised its stake in shares of First Hawaiian by 11.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,546 shares of the bank’s stock valued at $109,000 after purchasing an additional 374 shares in the last quarter. US Bancorp DE acquired a new stake in shares of First Hawaiian in the 2nd quarter valued at about $118,000. UBS Group AG raised its stake in shares of First Hawaiian by 308.6% in the 1st quarter. UBS Group AG now owns 4,086 shares of the bank’s stock valued at $122,000 after purchasing an additional 3,086 shares in the last quarter. Aperio Group LLC acquired a new stake in shares of First Hawaiian in the 3rd quarter valued at about $210,000. Finally, MUFG Americas Holdings Corp acquired a new stake in First Hawaiian during the second quarter worth about $221,000. Hedge funds and other institutional investors own 35.74% of the company’s stock.
FHB has been the topic of several research reports. Zacks Investment Research upgraded shares of First Hawaiian from a “sell” rating to a “hold” rating in a research note on Friday, November 3rd. BidaskClub lowered shares of First Hawaiian from a “buy” rating to a “hold” rating in a research note on Saturday, October 7th. UBS increased their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Barclays set a $32.00 price objective on shares of First Hawaiian and gave the stock a “buy” rating in a research note on Wednesday, October 11th. Finally, ValuEngine upgraded shares of First Hawaiian from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $32.50.
First Hawaiian Inc (NASDAQ FHB) opened at $29.75 on Friday. The stock has a market cap of $4,150.00 and a P/E ratio of 18.32. First Hawaiian Inc has a 1-year low of $26.30 and a 1-year high of $35.47.
First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $133.32 million during the quarter, compared to analysts’ expectations of $136.44 million. First Hawaiian had a net margin of 30.22% and a return on equity of 9.02%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. sell-side analysts expect that First Hawaiian Inc will post 1.63 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Monday, November 27th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, November 24th. First Hawaiian’s dividend payout ratio (DPR) is presently 53.66%.
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About First Hawaiian
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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