Schwab Charles Investment Management Inc. lifted its holdings in shares of First Hawaiian Inc (NASDAQ:FHB) by 12.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,272 shares of the bank’s stock after purchasing an additional 25,211 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.16% of First Hawaiian worth $6,854,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in First Hawaiian by 23.6% in the 3rd quarter. Wells Fargo & Company MN now owns 86,338 shares of the bank’s stock valued at $2,615,000 after buying an additional 16,470 shares during the last quarter. Cadence Capital Management LLC acquired a new stake in First Hawaiian in the 3rd quarter valued at approximately $245,000. Eagle Asset Management Inc. raised its position in First Hawaiian by 35.7% in the 3rd quarter. Eagle Asset Management Inc. now owns 110,795 shares of the bank’s stock valued at $3,357,000 after buying an additional 29,128 shares during the last quarter. Ameriprise Financial Inc. raised its position in First Hawaiian by 4.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 432,935 shares of the bank’s stock valued at $13,115,000 after buying an additional 17,320 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in First Hawaiian by 12.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 26,168 shares of the bank’s stock valued at $792,000 after buying an additional 2,860 shares during the last quarter. 35.74% of the stock is currently owned by institutional investors.
Several research firms have weighed in on FHB. ValuEngine lowered First Hawaiian from a “buy” rating to a “hold” rating in a research report on Friday. Barclays boosted their price target on First Hawaiian from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Tuesday. BidaskClub raised First Hawaiian from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. UBS Group boosted their price target on First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $34.00 price target on shares of First Hawaiian in a research report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $33.14.
First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Thursday, October 26th. The bank reported $0.42 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. First Hawaiian had a return on equity of 9.02% and a net margin of 30.22%. The firm had revenue of $133.32 million for the quarter, compared to analyst estimates of $136.44 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. equities research analysts predict that First Hawaiian Inc will post 1.63 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Monday, November 27th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend was Friday, November 24th. First Hawaiian’s dividend payout ratio (DPR) is presently 53.66%.
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About First Hawaiian
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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