SummerHaven Investment Management LLC Has $926,000 Stock Position in First Hawaiian, Inc. $FHB

SummerHaven Investment Management LLC grew its position in First Hawaiian, Inc. (NASDAQ:FHB) by 1.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,109 shares of the bank’s stock after buying an additional 616 shares during the period. SummerHaven Investment Management LLC’s holdings in First Hawaiian were worth $926,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in First Hawaiian by 3.6% in the 1st quarter. The Manufacturers Life Insurance Company now owns 10,493,396 shares of the bank’s stock valued at $256,459,000 after acquiring an additional 360,088 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in First Hawaiian by 2.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,786,438 shares of the bank’s stock valued at $141,417,000 after acquiring an additional 122,013 shares in the last quarter. Reinhart Partners LLC. lifted its position in First Hawaiian by 0.7% in the 2nd quarter. Reinhart Partners LLC. now owns 2,343,300 shares of the bank’s stock valued at $58,489,000 after acquiring an additional 17,419 shares in the last quarter. Northern Trust Corp lifted its position in First Hawaiian by 2.1% in the 1st quarter. Northern Trust Corp now owns 2,233,354 shares of the bank’s stock valued at $54,583,000 after acquiring an additional 45,349 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in First Hawaiian by 4.8% in the 1st quarter. Raymond James Financial Inc. now owns 1,295,267 shares of the bank’s stock valued at $31,656,000 after acquiring an additional 58,793 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on FHB. TD Cowen initiated coverage on shares of First Hawaiian in a research report on Thursday. They issued a “hold” rating and a $27.00 price objective on the stock. Barclays reissued an “underweight” rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Wells Fargo & Company boosted their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Thursday, July 10th. Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Piper Sandler initiated coverage on shares of First Hawaiian in a research report on Thursday, August 21st. They set a “neutral” rating and a $26.00 price target on the stock. Five investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $27.06.

First Hawaiian Trading Up 0.4%

Shares of NASDAQ:FHB opened at $25.17 on Monday. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 6.09 and a beta of 0.89. The business has a 50-day moving average price of $25.11 and a 200 day moving average price of $24.34. First Hawaiian, Inc. has a 12-month low of $20.32 and a 12-month high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.09. The company had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.During the same period in the previous year, the company posted $0.48 EPS. As a group, equities research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 18th. First Hawaiian’s payout ratio is currently 53.61%.

About First Hawaiian

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.