Wellington Management Group LLP Increases Holdings in First Hawaiian, Inc. $FHB

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 grew its position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 10.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 771,295 shares of the bank's stock after buying an additional 72,071 shares during the quarter. Wellington Management Group LLP owned 0.61% of First Hawaiian worth $18,850,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FHB. Stifel Financial Corp lifted its holdings in shares of First Hawaiian by 0.6% in the 4th quarter. Stifel Financial Corp now owns 234,424 shares of the bank's stock worth $6,083,000 after buying an additional 1,288 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of First Hawaiian by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 78,156 shares of the bank's stock worth $2,029,000 after purchasing an additional 6,439 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of First Hawaiian during the 4th quarter worth $239,000. Northern Trust Corp lifted its stake in shares of First Hawaiian by 10.7% during the 4th quarter. Northern Trust Corp now owns 2,188,005 shares of the bank's stock worth $56,779,000 after purchasing an additional 211,399 shares during the last quarter. Finally, Balyasny Asset Management L.P. lifted its stake in shares of First Hawaiian by 427.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 617,717 shares of the bank's stock worth $16,030,000 after purchasing an additional 500,535 shares during the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Thursday, July 10th. Barclays restated an "underweight" rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Piper Sandler assumed coverage on First Hawaiian in a research note on Thursday, August 21st. They set a "neutral" rating and a $26.00 price objective for the company. Wall Street Zen upgraded First Hawaiian from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, JPMorgan Chase & Co. upped their price objective on First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Three investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Strong Sell" and an average price target of $27.07.

First Hawaiian Price Performance

First Hawaiian stock traded up $0.04 during midday trading on Friday, reaching $25.95. The company's stock had a trading volume of 1,703,554 shares, compared to its average volume of 1,051,855. The stock's 50-day simple moving average is $25.10 and its 200-day simple moving average is $24.44. First Hawaiian, Inc. has a 52-week low of $20.32 and a 52-week high of $28.80. The stock has a market capitalization of $3.23 billion, a P/E ratio of 13.38, a PEG ratio of 6.29 and a beta of 0.89.

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

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a $0.26 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. First Hawaiian's dividend payout ratio (DPR) is 53.61%.

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.