Verition Fund Management LLC Acquires 12,254 Shares of First Hawaiian Inc (FHB)

Verition Fund Management LLC grew its holdings in shares of First Hawaiian Inc (NASDAQ:FHB) by 113.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,026 shares of the bank’s stock after purchasing an additional 12,254 shares during the quarter. Verition Fund Management LLC’s holdings in First Hawaiian were worth $668,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Putnam Investments LLC acquired a new position in shares of First Hawaiian during the 2nd quarter valued at about $3,708,000. Millennium Management LLC lifted its position in First Hawaiian by 151.0% in the second quarter. Millennium Management LLC now owns 1,012,156 shares of the bank’s stock valued at $29,373,000 after buying an additional 608,978 shares during the last quarter. Waddell & Reed Financial Inc. acquired a new position in First Hawaiian in the second quarter valued at about $403,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in First Hawaiian in the second quarter valued at about $2,400,000. Finally, Macquarie Group Ltd. acquired a new position in First Hawaiian in the second quarter valued at about $148,000. 50.68% of the stock is currently owned by institutional investors.

NASDAQ FHB opened at $27.55 on Thursday. First Hawaiian Inc has a 12 month low of $26.92 and a 12 month high of $32.36. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 15.23, a P/E/G ratio of 1.43 and a beta of 0.44.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Thursday, July 26th. The bank reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. First Hawaiian had a net margin of 25.59% and a return on equity of 10.13%. The company had revenue of $141.40 million for the quarter, compared to analysts’ expectations of $140.18 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. First Hawaiian’s revenue for the quarter was up 7.7% compared to the same quarter last year. analysts predict that First Hawaiian Inc will post 2.04 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Monday, August 27th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, August 24th. This represents a $0.96 dividend on an annualized basis and a yield of 3.48%. First Hawaiian’s payout ratio is currently 58.18%.

A number of research analysts have commented on the stock. Zacks Investment Research raised shares of First Hawaiian from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Wednesday. BidaskClub raised shares of First Hawaiian from a “hold” rating to a “buy” rating in a research report on Tuesday, June 5th. Finally, Bank of America raised shares of First Hawaiian from a “neutral” rating to a “buy” rating and upped their target price for the company from $34.00 to $35.00 in a research report on Thursday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $32.50.

In other First Hawaiian news, Director Paribas Bnp sold 20,000,000 shares of the business’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $28.70, for a total transaction of $574,000,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.10% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.

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

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