Teacher Retirement System of Texas Purchases 7,572 Shares of First Hawaiian, Inc. $FHB

Teacher Retirement System of Texas increased its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 30.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 32,574 shares of the bank’s stock after acquiring an additional 7,572 shares during the period. Teacher Retirement System of Texas’ holdings in First Hawaiian were worth $813,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FHB. Y Intercept Hong Kong Ltd bought a new stake in First Hawaiian during the second quarter worth $263,000. Envestnet Asset Management Inc. raised its holdings in shares of First Hawaiian by 16.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 239,789 shares of the bank’s stock worth $5,985,000 after buying an additional 34,455 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of First Hawaiian by 40.0% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,815 shares of the bank’s stock worth $245,000 after buying an additional 2,805 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of First Hawaiian by 10.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,170 shares of the bank’s stock worth $279,000 after buying an additional 1,082 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its stake in First Hawaiian by 11.2% in the second quarter. D.A. Davidson & CO. now owns 15,104 shares of the bank’s stock valued at $375,000 after buying an additional 1,519 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FHB has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their target price on First Hawaiian from $26.00 to $27.00 and gave the stock an “underweight” rating in a research note on Monday, October 27th. Barclays lifted their price target on shares of First Hawaiian from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, October 27th. Cowen reissued a “hold” rating on shares of First Hawaiian in a research note on Tuesday, October 28th. Wall Street Zen upgraded shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Keefe, Bruyette & Woods upped their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a report on Tuesday, October 28th. Six analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $27.50.

First Hawaiian Price Performance

NASDAQ:FHB opened at $24.79 on Friday. First Hawaiian, Inc. has a one year low of $20.32 and a one year high of $28.80. The company has a market cap of $3.07 billion, a PE ratio of 12.09, a P/E/G ratio of 3.47 and a beta of 0.91. The firm’s 50 day simple moving average is $24.82 and its 200 day simple moving average is $24.56.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Monday, August 9th. The bank reported $0.44 earnings per share (EPS) for the quarter. The firm had revenue of $129.16 million during the quarter. First Hawaiian had a net margin of 22.60% and a return on equity of 9.68%. Equities research analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Monday, November 17th. First Hawaiian’s dividend payout ratio (DPR) is currently 50.73%.

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.