First Hawaiian, Inc. $FHB Stock Position Lifted by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP increased its stake in First Hawaiian, Inc. by 2.2% during the first quarter, now owning 5,786,438 shares valued at $141.4 million.
• First Hawaiian recently reported earnings of $0.58 per share, exceeding analysts' expectations, with a revenue of $217.54 million for the quarter.
• The company announced a quarterly dividend of $0.26 per share, representing an annualized yield of 4.2%, with a payout ratio of 53.61%.

Dimensional Fund Advisors LP boosted its holdings in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,786,438 shares of the bank's stock after purchasing an additional 122,013 shares during the period. Dimensional Fund Advisors LP owned about 4.60% of First Hawaiian worth $141,417,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vestmark Advisory Solutions Inc. boosted its holdings in First Hawaiian by 92.4% in the first quarter. Vestmark Advisory Solutions Inc. now owns 192,788 shares of the bank's stock valued at $4,712,000 after purchasing an additional 92,561 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in First Hawaiian by 199.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank's stock worth $26,000 after buying an additional 705 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in First Hawaiian by 17.5% during the 1st quarter. Russell Investments Group Ltd. now owns 13,965 shares of the bank's stock worth $341,000 after buying an additional 2,077 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in First Hawaiian by 25.2% during the 1st quarter. Public Sector Pension Investment Board now owns 400,957 shares of the bank's stock worth $9,799,000 after buying an additional 80,694 shares during the last quarter. Finally, Nuveen LLC bought a new position in First Hawaiian during the 1st quarter worth approximately $16,248,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on FHB. Wall Street Zen raised First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. Wells Fargo & Company increased their target price on First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. JPMorgan Chase & Co. increased their target price on First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Finally, Piper Sandler began coverage on First Hawaiian in a report on Thursday. They set a "neutral" rating and a $26.00 target price on the stock. Three analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, First Hawaiian has an average rating of "Strong Sell" and an average price target of $27.07.

First Hawaiian Price Performance

Shares of NASDAQ FHB traded up $0.90 during mid-day trading on Friday, hitting $25.51. The company had a trading volume of 1,225,328 shares, compared to its average volume of 1,016,081. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 6.21 and a beta of 0.84. First Hawaiian, Inc. has a 12 month low of $20.32 and a 12 month high of $28.80. The firm's 50 day simple moving average is $24.85 and its two-hundred day simple moving average is $24.52.

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

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued 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 53.61%.

First Hawaiian Company 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.