32,695 Shares in First Hawaiian, Inc. $FHB Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 32,695 shares of the bank’s stock, valued at approximately $816,000.

Other large investors have also recently made changes to their positions in the company. Bank of Montreal Can increased its stake in shares of First Hawaiian by 1.7% during the second quarter. Bank of Montreal Can now owns 25,258 shares of the bank’s stock valued at $630,000 after buying an additional 422 shares during the period. Voya Investment Management LLC increased its position in First Hawaiian by 2.9% during the 1st quarter. Voya Investment Management LLC now owns 15,918 shares of the bank’s stock valued at $389,000 after purchasing an additional 448 shares during the period. SummerHaven Investment Management LLC raised its holdings in First Hawaiian by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 37,109 shares of the bank’s stock worth $926,000 after purchasing an additional 616 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of First Hawaiian by 5.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,340 shares of the bank’s stock worth $308,000 after purchasing an additional 672 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of First Hawaiian by 199.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank’s stock valued at $26,000 after purchasing an additional 705 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $23.69 on Wednesday. The business has a fifty day moving average price of $24.61 and a 200-day moving average price of $24.64. The company has a market capitalization of $2.93 billion, a PE ratio of 11.56, a PEG ratio of 1.52 and a beta of 0.91. First Hawaiian, Inc. has a 1-year low of $20.32 and a 1-year high of $28.80.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Monday, August 9th. The bank reported $0.44 earnings per share (EPS) for the quarter. The company had revenue of $129.16 million for the quarter. First Hawaiian had a net margin of 22.60% and a return on equity of 9.68%. On average, sell-side analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.4%. First Hawaiian’s dividend payout ratio (DPR) is presently 50.73%.

Wall Street Analyst Weigh In

Several analysts have commented on FHB shares. Barclays upgraded shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $26.00 to $28.00 in a report on Tuesday, November 11th. TD Cowen started coverage on First Hawaiian in a research note on Thursday, September 25th. They issued a “hold” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on First Hawaiian from $26.00 to $27.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Keefe, Bruyette & Woods upped their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 28th. Finally, Zacks Research raised shares of First Hawaiian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $27.75.

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.