BlackRock Inc. Takes $483.97 Million Position in First Hawaiian, Inc. $FHB

BlackRock Inc. bought a new stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 16,517,775 shares of the bank's stock, valued at approximately $483,971,000. BlackRock Inc. owned 13.57% of First Hawaiian as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Deutsche Bank AG acquired a new stake in shares of First Hawaiian in the second quarter valued at approximately $376,000. OneDigital Investment Advisors LLC acquired a new position in shares of First Hawaiian in the 2nd quarter valued at $980,000. Global Retirement Partners LLC acquired a new position in shares of First Hawaiian in the 2nd quarter valued at $51,000. Bank of New York Mellon Corp acquired a new position in shares of First Hawaiian in the 2nd quarter valued at $32,977,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in First Hawaiian in the 2nd quarter valued at $223,000. Institutional investors and hedge funds own 97.63% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen cut shares of First Hawaiian from a "hold" rating to a "sell" rating in a research note on Sunday, August 2nd. TD Cowen dropped their price objective on shares of First Hawaiian from $32.00 to $31.00 and set a "hold" rating on the stock in a research note on Wednesday, July 29th. Piper Sandler upped their target price on shares of First Hawaiian from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Benchmark reiterated a "hold" rating on shares of First Hawaiian in a research note on Tuesday, July 14th. Finally, The Goldman Sachs Group raised their price target on First Hawaiian from $27.00 to $30.00 and gave the stock a "sell" rating in a report on Tuesday, July 7th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, First Hawaiian currently has an average rating of "Reduce" and an average price target of $30.25.

First Hawaiian Trading Down 1.1%

NASDAQ FHB opened at $26.04 on Tuesday. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.66 and a beta of 0.73. The business's 50 day moving average is $28.43 and its two-hundred day moving average is $26.94. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $30.58.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The business had revenue of $231.27 million during the quarter, compared to analysts' expectations of $227.77 million. During the same period last year, the firm earned $0.58 EPS. Equities analysts forecast that First Hawaiian, Inc. will post 2.34 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 17th will be given a $0.26 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.04 annualized dividend and a yield of 4.0%. First Hawaiian's dividend payout ratio is presently 45.22%.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.

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