First Hawaiian Bank Has $480,000 Stock Holdings in ScanSource, Inc. (NASDAQ:SCSC)

First Hawaiian Bank increased its position in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 139.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,123 shares of the industrial products company's stock after acquiring an additional 8,235 shares during the period. First Hawaiian Bank owned about 0.06% of ScanSource worth $480,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of SCSC. Barclays PLC raised its holdings in shares of ScanSource by 97.9% during the third quarter. Barclays PLC now owns 54,346 shares of the industrial products company's stock worth $2,610,000 after acquiring an additional 26,881 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of ScanSource by 5.1% during the fourth quarter. Empowered Funds LLC now owns 136,305 shares of the industrial products company's stock worth $6,468,000 after acquiring an additional 6,592 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of ScanSource during the fourth quarter worth $807,000. Sanctuary Advisors LLC increased its position in ScanSource by 3.5% during the fourth quarter. Sanctuary Advisors LLC now owns 10,103 shares of the industrial products company's stock worth $479,000 after buying an additional 338 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in ScanSource by 11.5% during the fourth quarter. New York State Common Retirement Fund now owns 8,596 shares of the industrial products company's stock worth $408,000 after buying an additional 887 shares during the last quarter. 97.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Stephen Jones sold 2,000 shares of ScanSource stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $36.14, for a total transaction of $72,280.00. Following the sale, the chief financial officer now directly owns 69,816 shares of the company's stock, valued at $2,523,150.24. This trade represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SCSC has been the topic of several analyst reports. Wall Street Zen raised shares of ScanSource from a "hold" rating to a "buy" rating in a research report on Monday, May 12th. Northcoast Research raised ScanSource from a "neutral" rating to a "buy" rating and set a $42.00 price target on the stock in a research report on Tuesday, May 6th.

ScanSource Stock Performance

Shares of NASDAQ:SCSC traded up $0.34 during midday trading on Thursday, hitting $41.43. The company's stock had a trading volume of 170,839 shares, compared to its average volume of 232,686. The stock has a market capitalization of $936.15 million, a price-to-earnings ratio of 16.38, a PEG ratio of 1.14 and a beta of 1.30. The stock's 50 day simple moving average is $35.70 and its 200 day simple moving average is $41.24. ScanSource, Inc. has a fifty-two week low of $28.75 and a fifty-two week high of $53.90. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.30 and a current ratio of 2.11.

ScanSource (NASDAQ:SCSC - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The industrial products company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.09. The company had revenue of $704.23 million for the quarter, compared to the consensus estimate of $809.17 million. ScanSource had a return on equity of 8.55% and a net margin of 2.08%. The firm's revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. As a group, research analysts anticipate that ScanSource, Inc. will post 3.33 earnings per share for the current year.

About ScanSource

ScanSource, Inc engages in the distribution of technology products and solutions in the United States, Canada, and Brazil. It operates through two segments, Specialty Technology Solutions and Modern Communications & Cloud. The Specialty Technology Solutions segment provides a portfolio of solutions primarily for enterprise mobile computing, data capture, barcode printing, point of sale (POS), payments, networking, electronic physical security, cyber security, and other technologies.