First Hawaiian, Inc. $FHB Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP increased its stake in First Hawaiian, Inc. by 10.3%, owning 771,295 shares worth approximately $18.85 million after acquiring an additional 72,071 shares in the first quarter.
• First Hawaiian reported $0.58 EPS for the last quarter, exceeding analyst expectations, with a net margin of 21.45% and projected 1.95 EPS for the current year.
• The company announced a quarterly dividend of $0.26 per share, translating to an annualized yield of 4.1%, with the next payment scheduled for August 29th.

Wellington Management Group LLP raised its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 771,295 shares of the bank's stock after purchasing an additional 72,071 shares during the quarter. Wellington Management Group LLP owned about 0.61% of First Hawaiian worth $18,850,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in First Hawaiian by 2.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,786,438 shares of the bank's stock valued at $141,417,000 after purchasing an additional 122,013 shares in the last quarter. Reinhart Partners LLC. increased its stake in First Hawaiian by 15.1% during the 1st quarter. Reinhart Partners LLC. now owns 2,325,881 shares of the bank's stock valued at $56,845,000 after purchasing an additional 305,439 shares in the last quarter. Northern Trust Corp increased its stake in First Hawaiian by 2.1% during the 1st quarter. Northern Trust Corp now owns 2,233,354 shares of the bank's stock valued at $54,583,000 after purchasing an additional 45,349 shares in the last quarter. Raymond James Financial Inc. increased its stake in First Hawaiian by 4.8% during the 1st quarter. Raymond James Financial Inc. now owns 1,295,267 shares of the bank's stock valued at $31,656,000 after purchasing an additional 58,793 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of First Hawaiian in the 1st quarter valued at $16,248,000. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Price Performance

FHB opened at $25.31 on Tuesday. The firm has a fifty day moving average price of $24.89 and a 200 day moving average price of $24.48. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.80. The stock has a market cap of $3.15 billion, a P/E ratio of 13.05, a P/E/G ratio of 6.19 and a beta of 0.84.

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

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, August 18th. First Hawaiian's dividend payout ratio (DPR) is presently 53.61%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FHB. Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. Wells Fargo & Company upped their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Piper Sandler began coverage on shares of First Hawaiian in a report on Thursday, August 21st. They issued a "neutral" rating and a $26.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Three analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Strong Sell" and an average price target of $27.07.

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.

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