Allianz Asset Management GmbH Raises Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

Key Points

• Allianz Asset Management GmbH increased its stake in First Hawaiian, Inc. by 8.8%, purchasing an additional 21,800 shares and totaling 270,224 shares valued at approximately $6.6 million.
• First Hawaiian recently announced a quarterly dividend of $0.26 per share, scheduled for payment on August 29th, resulting in an annualized yield of 4.14%.
• The stock is currently rated as a "Hold" by analysts, with a consensus target price of $27.64, reflecting mixed sentiment in its ratings.

Allianz Asset Management GmbH increased its position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 8.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 270,224 shares of the bank's stock after acquiring an additional 21,800 shares during the quarter. Allianz Asset Management GmbH owned about 0.21% of First Hawaiian worth $6,604,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in First Hawaiian by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,664,425 shares of the bank's stock valued at $146,992,000 after buying an additional 186,993 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of First Hawaiian by 19.7% during the 4th quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank's stock worth $136,087,000 after purchasing an additional 864,420 shares during the period. Reinhart Partners LLC. raised its position in First Hawaiian by 15.1% in the 1st quarter. Reinhart Partners LLC. now owns 2,325,881 shares of the bank's stock valued at $56,845,000 after purchasing an additional 305,439 shares in the last quarter. Northern Trust Corp increased its position in First Hawaiian by 10.7% during the fourth quarter. Northern Trust Corp now owns 2,188,005 shares of the bank's stock worth $56,779,000 after buying an additional 211,399 shares during the period. Finally, Norges Bank acquired a new position in First Hawaiian during the fourth quarter worth approximately $36,266,000. 97.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays reissued an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. Wells Fargo & Company raised their target price on First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research report on Thursday, July 10th. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Wall Street Zen raised First Hawaiian from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Keefe, Bruyette & Woods lowered their price objective on 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. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat, First Hawaiian currently has an average rating of "Hold" and a consensus price target of $27.64.

First Hawaiian Stock Performance

First Hawaiian stock traded down $0.25 during trading hours on Thursday, hitting $24.28. The company had a trading volume of 190,868 shares, compared to its average volume of 881,659. The company has a 50-day moving average price of $24.66 and a two-hundred day moving average price of $24.79. The firm has a market cap of $3.05 billion, a P/E ratio of 12.54, a P/E/G ratio of 6.17 and a beta of 0.83. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The bank reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.09. The company had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. During the same quarter in the prior year, the company posted $0.48 EPS. As a group, equities research analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.28%. First Hawaiian's payout ratio is presently 53.61%.

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.