Connor Clark & Lunn Investment Management Ltd. purchased a new position in First Hawaiian Inc (NASDAQ:FHB) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 15,400 shares of the bank’s stock, valued at approximately $447,000.
A number of other large investors also recently bought and sold shares of the business. Neuberger Berman Group LLC lifted its stake in shares of First Hawaiian by 3.1% in the first quarter. Neuberger Berman Group LLC now owns 2,925,289 shares of the bank’s stock valued at $81,430,000 after buying an additional 87,737 shares in the last quarter. Villere ST Denis J & Co. LLC lifted its stake in shares of First Hawaiian by 18.7% in the second quarter. Villere ST Denis J & Co. LLC now owns 2,685,407 shares of the bank’s stock valued at $77,930,000 after buying an additional 422,761 shares in the last quarter. BlackRock Inc. lifted its stake in shares of First Hawaiian by 2.3% in the first quarter. BlackRock Inc. now owns 2,370,251 shares of the bank’s stock valued at $65,964,000 after buying an additional 52,357 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of First Hawaiian by 8.1% in the first quarter. American Century Companies Inc. now owns 1,231,003 shares of the bank’s stock valued at $34,259,000 after buying an additional 91,861 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of First Hawaiian by 31.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 872,231 shares of the bank’s stock valued at $25,312,000 after buying an additional 209,708 shares in the last quarter. Institutional investors and hedge funds own 46.62% of the company’s stock.
FHB has been the topic of a number of recent research reports. Deutsche Bank raised shares of First Hawaiian from a “hold” rating to a “buy” rating in a research note on Thursday, May 3rd. Bank of America raised shares of First Hawaiian from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $35.00 in a research note on Thursday, May 31st. BidaskClub raised shares of First Hawaiian from a “hold” rating to a “buy” rating in a research note on Tuesday, June 5th. Finally, Zacks Investment Research lowered shares of First Hawaiian from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $32.88.
FHB opened at $29.77 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. First Hawaiian Inc has a fifty-two week low of $26.30 and a fifty-two week high of $32.36. The stock has a market cap of $3.97 billion, a P/E ratio of 18.04, a PEG ratio of 1.49 and a beta of 0.41.
First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Thursday, July 26th. The bank reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $140.18 million. During the same period last year, the firm earned $0.41 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. equities research analysts predict that First Hawaiian Inc will post 2.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Monday, August 27th will be given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, August 24th. First Hawaiian’s payout ratio is currently 58.18%.
In related news, Director Paribas Bnp sold 20,000,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $27.75, for a total transaction of $555,000,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.10% of the stock is owned by company insiders.
First Hawaiian Company Profile
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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