State Board of Administration of Florida Retirement System grew its holdings in First Hawaiian Inc (NASDAQ:FHB) by 26.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,329 shares of the bank’s stock after acquiring an additional 2,750 shares during the period. State Board of Administration of Florida Retirement System’s holdings in First Hawaiian were worth $387,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. San Francisco Sentry Investment Group CA grew its position in First Hawaiian by 106.4% in the second quarter. San Francisco Sentry Investment Group CA now owns 3,570 shares of the bank’s stock worth $104,000 after acquiring an additional 1,840 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of First Hawaiian in the first quarter worth $120,000. Xact Kapitalforvaltning AB acquired a new stake in shares of First Hawaiian in the first quarter worth $215,000. State of Alaska Department of Revenue lifted its stake in shares of First Hawaiian by 60.2% in the second quarter. State of Alaska Department of Revenue now owns 7,530 shares of the bank’s stock worth $218,000 after buying an additional 2,830 shares during the last quarter. Finally, Dupont Capital Management Corp acquired a new stake in shares of First Hawaiian in the first quarter worth $244,000. 50.07% of the stock is owned by institutional investors.
A number of analysts have recently weighed in on FHB shares. Bank of America upgraded shares of First Hawaiian from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $35.00 in a research note on Thursday, May 31st. Zacks Investment Research cut shares of First Hawaiian from a “buy” rating to a “hold” rating in a research note on Wednesday, June 6th. Finally, BidaskClub cut shares of First Hawaiian from a “buy” rating to a “hold” rating in a research note on Friday, August 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $32.88.
NASDAQ:FHB opened at $29.03 on Thursday. The firm has a market cap of $3.96 billion, a P/E ratio of 15.84, a P/E/G ratio of 1.48 and a beta of 0.44. First Hawaiian Inc has a one year low of $26.30 and a one year high of $32.36. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.08.
First Hawaiian (NASDAQ:FHB) last released its earnings results on Thursday, July 26th. The bank reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $141.40 million during the quarter, compared to analysts’ expectations of $140.18 million. First Hawaiian had a net margin of 25.59% and a return on equity of 10.13%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. analysts forecast that First Hawaiian Inc will post 2.04 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 7th. Investors of record on Monday, August 27th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.31%. The ex-dividend date 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 company’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.10% of the stock is owned by corporate 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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