Reinhart Partners LLC. Has $56.85 Million Stock Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Reinhart Partners LLC. increased its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 15.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,325,881 shares of the bank’s stock after acquiring an additional 305,439 shares during the period. First Hawaiian comprises 2.1% of Reinhart Partners LLC.’s holdings, making the stock its 23rd largest holding. Reinhart Partners LLC.’s holdings in First Hawaiian were worth $56,845,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FHB. Dimensional Fund Advisors LP boosted its holdings in shares of First Hawaiian by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,664,425 shares of the bank’s stock valued at $146,992,000 after acquiring an additional 186,993 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of First Hawaiian by 19.7% during the 4th quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank’s stock valued at $136,087,000 after acquiring an additional 864,420 shares in the last quarter. Northern Trust Corp boosted its holdings 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 in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of First Hawaiian by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,670,929 shares of the bank’s stock valued at $43,361,000 after acquiring an additional 9,775 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of First Hawaiian during the 4th quarter valued at $36,266,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FHB. Barclays cut their price objective on First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. cut their target price on First Hawaiian from $26.00 to $25.00 and set an “underweight” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company cut their target price on First Hawaiian from $24.00 to $22.00 and set an “underweight” rating on the stock in a report on Wednesday, April 9th. Finally, Keefe, Bruyette & Woods cut their target price on First Hawaiian from $30.00 to $28.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $27.29.

First Hawaiian Stock Up 2.2%

FHB opened at $24.14 on Friday. First Hawaiian, Inc. has a twelve month low of $19.48 and a twelve month high of $28.80. The company has a fifty day moving average of $23.17 and a 200-day moving average of $25.20. The stock has a market cap of $3.03 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The company had revenue of $211.00 million for the quarter, compared to the consensus estimate of $210.24 million. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. Sell-side analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Monday, May 19th. First Hawaiian’s payout ratio is 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.