First Hawaiian Bank Raises Stock Position in ScanSource, Inc. $SCSC

Key Points

• First Hawaiian Bank significantly increased its stake in ScanSource, Inc. by 139.9% during Q1, owning 14,123 shares valued at approximately $480,000 by the end of the reporting period.
• Several institutional investors have also made substantial adjustments to their holdings, with 97.91% of ScanSource's stock currently owned by hedge funds and other institutional investors.
• ScanSource recently reported quarterly earnings of $1.02 per share, exceeding analyst expectations and showing a revenue increase of 8.9% year-over-year, with a forecasted average EPS of 3.33 for the current year.

First Hawaiian Bank lifted its stake in shares of ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 139.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,123 shares of the industrial products company's stock after acquiring an additional 8,235 shares during the quarter. First Hawaiian Bank owned approximately 0.06% of ScanSource worth $480,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Versant Capital Management Inc boosted its stake in shares of ScanSource by 88.4% during the first quarter. Versant Capital Management Inc now owns 863 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 405 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of ScanSource during the fourth quarter valued at approximately $81,000. GAMMA Investing LLC boosted its stake in shares of ScanSource by 25.5% during the first quarter. GAMMA Investing LLC now owns 1,944 shares of the industrial products company's stock valued at $66,000 after purchasing an additional 395 shares in the last quarter. Quarry LP boosted its stake in shares of ScanSource by 344.3% during the first quarter. Quarry LP now owns 3,541 shares of the industrial products company's stock valued at $120,000 after purchasing an additional 2,744 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of ScanSource during the fourth quarter valued at approximately $256,000. 97.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SCSC has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of ScanSource from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Zacks Research upgraded shares of ScanSource from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy" and an average target price of $42.00.

Insider Transactions at ScanSource

In related news, EVP Rachel Hayden sold 6,738 shares of the business's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $41.27, for a total transaction of $278,077.26. Following the completion of the transaction, the executive vice president directly owned 13,174 shares in the company, valued at $543,690.98. The trade was a 33.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 10,415 shares of company stock worth $439,848 in the last three months. Insiders own 4.20% of the company's stock.

ScanSource Trading Down 2.0%

NASDAQ SCSC opened at $44.50 on Monday. The company has a fifty day simple moving average of $42.17 and a two-hundred day simple moving average of $38.88. The stock has a market cap of $973.88 million, a P/E ratio of 14.78, a P/E/G ratio of 0.75 and a beta of 1.43. ScanSource, Inc. has a 12-month low of $28.75 and a 12-month high of $53.90. The company has a current ratio of 2.01, a quick ratio of 1.30 and a debt-to-equity ratio of 0.14.

ScanSource (NASDAQ:SCSC - Get Free Report) last posted its quarterly earnings results on Thursday, August 21st. The industrial products company reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.11. The business had revenue of $812.89 million during the quarter, compared to analysts' expectations of $776.21 million. ScanSource had a net margin of 2.35% and a return on equity of 9.38%. The business's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the company posted $0.80 earnings per share. ScanSource has set its FY 2026 guidance at EPS. On average, analysts forecast that ScanSource, Inc. will post 3.33 earnings per share for the current year.

ScanSource Company Profile

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.

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