78,896 Shares in First Hawaiian, Inc. $FHB Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC acquired approximately 78,896 shares of First Hawaiian, Inc., valued at about $1.93 million, indicating growing institutional interest in the bank's stock.
• First Hawaiian announced a quarterly dividend of $0.26, reflecting a yield of 4.1%, with a payout ratio of about 53.61%.
• The stock has seen price adjustments from various analysts, with a consensus target price of $27.07 and the majority rating it as a "Strong Sell."

AlphaQuest LLC acquired a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 78,896 shares of the bank's stock, valued at approximately $1,928,000. AlphaQuest LLC owned 0.06% of First Hawaiian at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FHB. First Trust Advisors LP boosted its position in shares of First Hawaiian by 40.7% during the fourth quarter. First Trust Advisors LP now owns 927,586 shares of the bank's stock valued at $24,071,000 after buying an additional 268,191 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of First Hawaiian by 3.4% during 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 period. Stifel Financial Corp boosted its position in shares of First Hawaiian by 0.6% during the fourth quarter. Stifel Financial Corp now owns 234,424 shares of the bank's stock valued at $6,083,000 after buying an additional 1,288 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of First Hawaiian by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 78,156 shares of the bank's stock valued at $2,029,000 after buying an additional 6,439 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in shares of First Hawaiian during the fourth quarter valued at approximately $239,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Stock Up 1.1%

FHB traded up $0.28 during trading on Tuesday, reaching $25.59. The company's stock had a trading volume of 1,001,795 shares, compared to its average volume of 898,024. The firm has a fifty day simple moving average of $24.94 and a two-hundred day simple moving average of $24.49. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.80. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 6.19 and a beta of 0.84.

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

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.1%. First Hawaiian's dividend payout ratio (DPR) is presently 53.61%.

Analysts Set New Price Targets

FHB has been the topic of a number of research reports. Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Piper Sandler initiated coverage on shares of First Hawaiian in a research report on Thursday, August 21st. They set a "neutral" rating and a $26.00 target price on the stock. Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. raised their target price on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Finally, 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 research report on Thursday, July 10th. Three equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Strong Sell" and an average target price of $27.07.

First Hawaiian Profile

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.