Ethic Inc. Boosts Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Ethic Inc. increased its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 70.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,381 shares of the bank’s stock after purchasing an additional 12,594 shares during the quarter. Ethic Inc.’s holdings in First Hawaiian were worth $788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Balyasny Asset Management L.P. increased its position in First Hawaiian by 427.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 617,717 shares of the bank’s stock worth $16,030,000 after buying an additional 500,535 shares in the last quarter. Northern Trust Corp grew its stake in shares of First Hawaiian by 10.7% during the 4th quarter. Northern Trust Corp now owns 2,188,005 shares of the bank’s stock valued at $56,779,000 after acquiring an additional 211,399 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in First Hawaiian in the 4th quarter worth approximately $239,000. Price T Rowe Associates Inc. MD raised its stake in First Hawaiian by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 78,156 shares of the bank’s stock worth $2,029,000 after acquiring an additional 6,439 shares during the period. Finally, Stifel Financial Corp raised its stake in First Hawaiian by 0.6% during the 4th quarter. Stifel Financial Corp now owns 234,424 shares of the bank’s stock worth $6,083,000 after acquiring an additional 1,288 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Wells Fargo & Company dropped their price target on shares of First Hawaiian from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Wednesday, April 9th. Barclays dropped their target price on shares of First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Piper Sandler increased their price target on First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on First Hawaiian from $26.00 to $29.00 and gave the company a “sell” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on First Hawaiian from $26.00 to $25.00 and set an “underweight” rating for the company in a research note on Thursday, April 24th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.29.

First Hawaiian Stock Performance

FHB opened at $24.53 on Thursday. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 3.28 and a beta of 0.82. The company has a fifty day moving average of $23.42 and a 200 day moving average of $25.50. First Hawaiian, Inc. has a fifty-two week low of $19.48 and a fifty-two week high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $211.00 million during the quarter, compared to the consensus estimate of $210.24 million. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. The business’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.42 EPS. On average, equities research analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date is Monday, May 19th. First Hawaiian’s payout ratio is presently 56.52%.

First Hawaiian Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and 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 offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.