25,002 Shares in First Hawaiian, Inc. (NASDAQ:FHB) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas acquired a new stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 25,002 shares of the bank's stock, valued at approximately $611,000.

Other large investors have also added to or reduced their stakes in the company. Illinois Municipal Retirement Fund lifted its holdings in shares of First Hawaiian by 4.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 70,300 shares of the bank's stock worth $1,718,000 after purchasing an additional 2,678 shares in the last quarter. Wealthquest Corp purchased a new stake in shares of First Hawaiian in the first quarter worth $248,000. Janney Montgomery Scott LLC grew its position in First Hawaiian by 20.0% during the first quarter. Janney Montgomery Scott LLC now owns 35,631 shares of the bank's stock worth $871,000 after buying an additional 5,939 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in First Hawaiian by 25.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,864 shares of the bank's stock valued at $314,000 after purchasing an additional 2,617 shares in the last quarter. Finally, SummerHaven Investment Management LLC lifted its stake in First Hawaiian by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 36,493 shares of the bank's stock worth $892,000 after purchasing an additional 521 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

Wall Street Analysts Forecast Growth

FHB has been the topic of several recent analyst reports. Wells Fargo & Company raised their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods lowered their target price on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. boosted their price target on First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $27.64.

First Hawaiian Price Performance

FHB stock traded up $0.21 during trading on Thursday, hitting $25.45. The stock had a trading volume of 262,345 shares, compared to its average volume of 765,534. The company's 50-day moving average price is $24.44 and its two-hundred day moving average price is $24.80. The stock has a market capitalization of $3.20 billion, a P/E ratio of 13.82, a PEG ratio of 6.37 and a beta of 0.83. First Hawaiian, Inc. has a twelve month low of $20.32 and a twelve month high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. First Hawaiian had a return on equity of 8.99% and a net margin of 20.36%. The firm had revenue of $211.00 million for the quarter, compared to analysts' expectations of $210.24 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The firm's quarterly revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.09%. The ex-dividend date was Monday, May 19th. First Hawaiian's payout ratio is 56.52%.

About First Hawaiian

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