California State Teachers Retirement System Has $4 Million Holdings in First Hawaiian, Inc. $FHB

Key Points

• Institutional ownership increased: California State Teachers Retirement System boosted its First Hawaiian stake by 37.7% to 162,320 shares valued at approximately $4 million. Institutional investors collectively own 97.63% of the stock.
• Mixed analyst outlook: Stephens upgraded the bank to “overweight,” while other analysts maintained mostly neutral or negative ratings. The consensus rating remains “Hold,” with an average price target of $30.25.
• Solid quarterly results and dividend: First Hawaiian reported quarterly EPS of $0.60, exceeding estimates of $0.58, and revenue of $231.27 million. The bank declared a quarterly dividend of $0.26 per share, representing a 3.8% annualized yield.

California State Teachers Retirement System grew its holdings in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 37.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 162,320 shares of the bank's stock after purchasing an additional 44,423 shares during the period. California State Teachers Retirement System owned about 0.13% of First Hawaiian worth $4,000,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in First Hawaiian during the 4th quarter valued at $40,281,000. AQR Capital Management LLC increased its position in First Hawaiian by 230.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank's stock worth $54,784,000 after purchasing an additional 1,539,415 shares in the last quarter. UBS Group AG grew its position in First Hawaiian by 176.0% during the 4th quarter. UBS Group AG now owns 1,128,002 shares of the bank's stock worth $28,538,000 after acquiring an additional 719,312 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of First Hawaiian by 60.3% in the first quarter. Quantinno Capital Management LP now owns 1,798,815 shares of the bank's stock valued at $44,323,000 after buying an additional 676,433 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of First Hawaiian by 96.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,096,002 shares of the bank's stock worth $27,729,000 after purchasing an additional 537,841 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on FHB shares. Benchmark reissued a "hold" rating on shares of First Hawaiian in a research note on Tuesday, July 14th. TD Cowen reduced their price objective on First Hawaiian from $32.00 to $31.00 and set a "hold" rating for the company in a research note on Wednesday, July 29th. Zacks Research raised First Hawaiian from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. Piper Sandler raised their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Finally, Stephens upgraded First Hawaiian from an "equal weight" rating to an "overweight" rating and set a $33.00 price target on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $30.25.

First Hawaiian Trading Down 0.3%

Shares of First Hawaiian stock opened at $27.49 on Friday. First Hawaiian, Inc. has a 12 month low of $22.65 and a 12 month high of $30.58. The firm has a market capitalization of $3.34 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.74 and a beta of 0.73. The business has a fifty day simple moving average of $28.53 and a two-hundred day simple moving average of $26.94.

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

First Hawaiian Announces Dividend

The business 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 dividend of $0.26 per share. The ex-dividend date is Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 3.8%. First Hawaiian's dividend payout ratio is 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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