First Hawaiian, Inc. $FHB Stock Holdings Increased by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. increased its First Hawaiian stake by 41% in the first quarter, adding 67,083 shares to reach 230,841 shares worth about $5.69 million.
• Wall Street sentiment is mixed: the stock’s average analyst rating is “Hold,” with an average price target of $29.25, while recent calls ranged from sell to hold and underweight.
• First Hawaiian reported solid results and a dividend, posting $0.55 EPS for the quarter, topping estimates, and paying a quarterly dividend of $0.26 per share, equal to a 3.6% annualized yield.

Bessemer Group Inc. grew its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 41.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 230,841 shares of the bank's stock after acquiring an additional 67,083 shares during the quarter. Bessemer Group Inc. owned about 0.19% of First Hawaiian worth $5,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of FHB. Oak Thistle LLC bought a new stake in First Hawaiian in the fourth quarter worth about $1,243,000. SG Americas Securities LLC boosted its position in shares of First Hawaiian by 409.2% during the 4th quarter. SG Americas Securities LLC now owns 89,506 shares of the bank's stock valued at $2,265,000 after purchasing an additional 71,927 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of First Hawaiian by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank's stock worth $365,777,000 after purchasing an additional 358,632 shares during the last quarter. Ruffer LLP acquired a new position in shares of First Hawaiian in the 4th quarter worth approximately $3,028,000. Finally, UBS Group AG raised its holdings in shares of First Hawaiian by 176.0% in the 4th quarter. UBS Group AG now owns 1,128,002 shares of the bank's stock worth $28,538,000 after purchasing an additional 719,312 shares in the last quarter. Institutional investors own 97.63% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wall Street Zen lowered shares of First Hawaiian from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Wells Fargo & Company lifted their price target on shares of First Hawaiian from $26.00 to $28.00 and gave the stock an "underweight" rating in a research report on Monday, July 6th. TD Cowen upped their price target on First Hawaiian from $28.00 to $29.00 and gave the company a "hold" rating in a report on Tuesday, April 28th. Benchmark reiterated a "hold" rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group raised their price objective on First Hawaiian from $27.00 to $30.00 and gave the stock a "sell" rating in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $29.25.

First Hawaiian Price Performance

Shares of FHB opened at $28.86 on Tuesday. The company has a 50-day moving average of $28.19 and a two-hundred day moving average of $26.77. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.60 and a beta of 0.72. First Hawaiian, Inc. has a one year low of $22.65 and a one year high of $30.58.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. The business had revenue of $220.35 million during the quarter, compared to the consensus estimate of $223.59 million. During the same quarter in the prior year, the firm earned $0.47 EPS. Analysts anticipate that First Hawaiian, Inc. will post 2.38 earnings per share for the current year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, May 18th. First Hawaiian's payout ratio is 45.61%.

About First Hawaiian

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.

Want to see what other hedge funds are holding FHB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Hawaiian, Inc. (NASDAQ:FHB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.