Empowered Funds LLC Takes Position in First Hawaiian, Inc. $FHB

Key Points

• Empowered Funds LLC initiated a First Hawaiian position worth approximately $1.58 million, while institutional investors collectively own 97.63% of the bank’s shares.
• First Hawaiian exceeded quarterly expectations, reporting $0.60 in EPS versus a $0.58 consensus estimate and revenue of $231.27 million. The bank also maintains a quarterly dividend of $0.26, equivalent to a 4.0% annual yield.
• Analyst sentiment remains cautious, with two Buy, six Hold, and three Sell ratings; the consensus rating is “Reduce,” with an average price target of $30.25.

Empowered Funds LLC purchased a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 53,973 shares of the bank's stock, valued at approximately $1,581,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of FHB. Eurizon Capital SGR S.p.A. purchased a new position in First Hawaiian during the fourth quarter worth about $26,000. Elevation Wealth Partners LLC raised its stake in shares of First Hawaiian by 378.5% in the 2nd 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 period. Northwestern Mutual Wealth Management Co. raised its stake in shares of First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank's stock valued at $27,000 after acquiring an additional 1,050 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank's stock worth $43,000 after acquiring an additional 534 shares during the last quarter. Finally, Danske Bank A S acquired a new position in shares of First Hawaiian in the 3rd quarter worth approximately $47,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Stock Performance

Shares of FHB opened at $26.00 on Friday. The company's 50-day simple moving average is $28.01 and its 200-day simple moving average is $26.88. First Hawaiian, Inc. has a 1 year low of $22.65 and a 1 year high of $30.58. The stock has a market capitalization of $3.16 billion, a PE ratio of 11.30, a P/E/G ratio of 1.62 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $231.27 million for the quarter, compared to analyst estimates of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same period in the prior year, the business earned $0.58 EPS. On average, sell-side 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 was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, August 17th. First Hawaiian's dividend payout ratio (DPR) is presently 45.22%.

Wall Street Analyst Weigh In

FHB has been the subject of several research reports. Benchmark reiterated a "hold" rating on shares of First Hawaiian in a report on Tuesday, July 14th. 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 note on Thursday, August 6th. Zacks Research cut First Hawaiian from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. TD Cowen lowered their price target on First Hawaiian from $32.00 to $31.00 and set a "hold" rating for the company in a research report on Wednesday, July 29th. Finally, Wells Fargo & Company lifted their price objective on First Hawaiian from $26.00 to $28.00 and gave the company an "underweight" rating in a research note on Monday, July 6th. Two research 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. According to MarketBeat, the stock has an average rating of "Reduce" and an average target price 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.

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