Corient Private Wealth LP Buys 45,810 Shares of First Hawaiian, Inc. $FHB

Key Points

• Corient Private Wealth increased its First Hawaiian stake by 76.7% in the second quarter, purchasing 45,810 additional shares and bringing its holdings to 105,503 shares worth approximately $3.1 million. Institutional investors collectively own 97.63% of the stock.
• Analyst sentiment remains cautious: First Hawaiian has a consensus rating of “Reduce”, with two Buy, six Hold, and three Sell ratings and an average price target of $30.25.
• The bank exceeded quarterly expectations with $0.60 earnings per share and $231.27 million in revenue. It also declared a quarterly dividend of $0.26 per share, equating to an annualized yield of about 4.0%.

Corient Private Wealth LP grew its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 76.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,503 shares of the bank's stock after acquiring an additional 45,810 shares during the quarter. Corient Private Wealth LP owned about 0.09% of First Hawaiian worth $3,091,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Elevation Wealth Partners LLC increased its position in First Hawaiian by 378.5% during the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank's stock valued at $27,000 after acquiring an additional 738 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in First Hawaiian in the fourth quarter valued at about $26,000. Global Retirement Partners LLC purchased a new position in First Hawaiian in the second quarter worth about $51,000. Nykredit A S purchased a new position in First Hawaiian in the second quarter worth about $65,000. Finally, Rockefeller Capital Management L.P. grew its stake in shares of First Hawaiian by 586.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,649 shares of the bank's stock valued at $67,000 after purchasing an additional 2,263 shares during the period. 97.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on FHB. Zacks Research downgraded shares of First Hawaiian from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Wells Fargo & Company upped their target price on shares of First Hawaiian from $26.00 to $28.00 and gave the company an "underweight" rating in a report on Monday, July 6th. Wall Street Zen downgraded shares of First Hawaiian from a "hold" rating to a "sell" rating in a research report on Saturday. Barclays lifted their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 7th. Finally, The Goldman Sachs Group boosted their price objective on shares of First Hawaiian from $27.00 to $30.00 and gave the company a "sell" rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and an average price target of $30.25.

First Hawaiian Price Performance

Shares of NASDAQ FHB opened at $25.76 on Monday. The stock has a market cap of $3.13 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72. First Hawaiian, Inc. has a 1 year low of $22.65 and a 1 year high of $30.58. The firm has a fifty day moving average price of $27.11 and a 200-day moving average price of $26.89.

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

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. First Hawaiian's dividend payout ratio (DPR) is currently 45.22%.

First Hawaiian Profile

First Hawaiian, Inc NASDAQ: FHB is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.

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