Corient Private Wealth LP Makes New Investment in First Hawaiian, Inc. $FHB

Corient Private Wealth LP acquired a new stake in First Hawaiian, Inc. (NASDAQ:FHBFree Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 92,168 shares of the bank’s stock, valued at approximately $2,701,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Illinois Municipal Retirement Fund raised its holdings in shares of First Hawaiian by 0.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock worth $1,602,000 after acquiring an additional 397 shares during the last quarter. Evolve Private Wealth LLC boosted its stake in First Hawaiian by 1.6% during the 1st quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock valued at $643,000 after purchasing an additional 406 shares during the last quarter. Parallel Advisors LLC increased its holdings in First Hawaiian by 11.3% during the 1st quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock worth $127,000 after purchasing an additional 525 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of First Hawaiian by 45.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in shares of First Hawaiian by 0.4% in the fourth quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock worth $3,540,000 after purchasing an additional 568 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

First Hawaiian Stock Down 1.4%

FHB stock opened at $25.25 on Wednesday. The firm has a market cap of $3.07 billion, a PE ratio of 10.98, a P/E/G ratio of 1.61 and a beta of 0.73. The business has a 50 day moving average of $28.14 and a 200-day moving average of $26.89. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $30.58.

First Hawaiian (NASDAQ:FHBGet Free Report) last issued its quarterly earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same period last year, the business posted $0.58 earnings per share. On average, research analysts expect that First Hawaiian, Inc. will post 2.34 earnings per share for the current year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.1%. First Hawaiian’s dividend payout ratio (DPR) is currently 45.22%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Piper Sandler raised their price objective on First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. TD Cowen cut their price objective on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, The Goldman Sachs Group increased their target price on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $30.25.

Check Out Our Latest Stock Report on FHB

First Hawaiian Company Profile

(Free Report)

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.

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Institutional Ownership by Quarter for First Hawaiian (NASDAQ:FHB)

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