First Hawaiian Bank Buys 8,235 Shares of 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 ScanSource, Inc. (NASDAQ:SCSC - Free Report) by 139.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,123 shares of the industrial products company's stock after purchasing an additional 8,235 shares during the period. First Hawaiian Bank owned 0.06% of ScanSource worth $480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SCSC. Ameriprise Financial Inc. increased its holdings in shares of ScanSource by 1.4% in the fourth quarter. Ameriprise Financial Inc. now owns 240,709 shares of the industrial products company's stock valued at $11,422,000 after purchasing an additional 3,399 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of ScanSource by 75.8% in the fourth quarter. Bank of America Corp DE now owns 54,715 shares of the industrial products company's stock valued at $2,596,000 after purchasing an additional 23,587 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of ScanSource by 47.8% in the fourth quarter. Deutsche Bank AG now owns 20,510 shares of the industrial products company's stock valued at $973,000 after purchasing an additional 6,629 shares in the last quarter. Lazard Asset Management LLC boosted its stake in ScanSource by 117.9% in the fourth quarter. Lazard Asset Management LLC now owns 29,380 shares of the industrial products company's stock valued at $1,394,000 after acquiring an additional 15,896 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in ScanSource by 0.5% in the fourth quarter. Millennium Management LLC now owns 239,722 shares of the industrial products company's stock valued at $11,375,000 after acquiring an additional 1,211 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SCSC shares. Wall Street Zen raised shares of ScanSource from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Zacks Research raised 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 given a Buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Strong Buy" and an average price target of $42.00.

Insiders Place Their Bets

In other news, CEO Michael L. Baur sold 102,031 shares of ScanSource stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $44.96, for a total transaction of $4,587,313.76. Following the transaction, the chief executive officer directly owned 227,512 shares of the company's stock, valued at $10,228,939.52. This trade represents a 30.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Rachel Hayden sold 1,080 shares of ScanSource stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $44.69, for a total transaction of $48,265.20. Following the transaction, the executive vice president directly owned 11,688 shares in the company, valued at approximately $522,336.72. This represents a 8.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 153,677 shares of company stock worth $6,876,030. Insiders own 4.20% of the company's stock.

ScanSource Trading Down 1.2%

Shares of NASDAQ SCSC traded down $0.53 during midday trading on Friday, reaching $43.80. 550,527 shares of the stock were exchanged, compared to its average volume of 282,332. The business has a 50-day simple moving average of $42.40 and a two-hundred day simple moving average of $39.13. The company has a market capitalization of $958.78 million, a price-to-earnings ratio of 14.55, a P/E/G ratio of 0.74 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 debt-to-equity ratio of 0.14, a current ratio of 2.01 and a quick ratio of 1.30.

ScanSource (NASDAQ:SCSC - Get Free Report) last announced its quarterly earnings results on Thursday, August 21st. The industrial products company reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.11. The company had revenue of $812.89 million for 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% compared to the same quarter last year. During the same period last year, the firm posted $0.80 earnings per share. ScanSource has set its FY 2026 guidance at EPS. As a group, equities research analysts expect that ScanSource, Inc. will post 3.33 EPS for the current year.

ScanSource 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.