Corient Private Wealth LP Invests $2.70 Million in First Hawaiian, Inc. $FHB

Corient Private Wealth LP acquired a new position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 92,168 shares of the bank's stock, valued at approximately $2,701,000. Corient Private Wealth LP owned 0.08% of First Hawaiian at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FHB. BlackRock Inc. bought a new stake in shares of First Hawaiian in the 2nd quarter valued at $483,971,000. Ieq Capital LLC bought a new position in First Hawaiian during the second quarter worth $2,653,000. Quantinno Capital Management LP raised its stake in First Hawaiian by 60.3% during the first quarter. Quantinno Capital Management LP now owns 1,798,815 shares of the bank's stock worth $44,323,000 after buying an additional 676,433 shares during the last quarter. Bank of America Corp DE lifted its holdings in First Hawaiian by 36.6% in the first quarter. Bank of America Corp DE now owns 1,086,157 shares of the bank's stock valued at $26,763,000 after buying an additional 291,271 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in First Hawaiian in the first quarter valued at $1,829,000. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Trading Down 1.4%

Shares of NASDAQ FHB opened at $25.25 on Wednesday. The firm has a market capitalization of $3.07 billion, a P/E ratio of 10.98, a P/E/G ratio of 1.61 and a beta of 0.73. The firm's 50-day moving average price is $28.14 and its 200-day moving average price is $26.89. First Hawaiian, Inc. has a 1-year low of $22.65 and a 1-year high of $30.58.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its 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 company had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. During the same period last year, the business posted $0.58 EPS. Equities research analysts forecast that First Hawaiian, Inc. will post 2.34 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 17th. First Hawaiian's dividend payout ratio (DPR) is 45.22%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FHB. The Goldman Sachs Group increased 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. Zacks Research lowered First Hawaiian from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. TD Cowen decreased their target price 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. Weiss Ratings reissued a "buy (b)" rating on shares of First Hawaiian in a research note on Monday, July 6th. Finally, Piper Sandler increased their price target on First Hawaiian from $29.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, July 27th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and an average price target of $30.25.

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.

Want to see what other hedge funds are holding FHB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Hawaiian, Inc. (NASDAQ:FHB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source