Harbor Capital Advisors Inc. Boosts Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Harbor Capital Advisors Inc. grew its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 15.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 524,555 shares of the bank's stock after purchasing an additional 68,727 shares during the period. First Hawaiian makes up approximately 0.6% of Harbor Capital Advisors Inc.'s investment portfolio, making the stock its 29th largest holding. Harbor Capital Advisors Inc. owned 0.42% of First Hawaiian worth $12,820,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of FHB. Steward Partners Investment Advisory LLC increased its holdings in shares of First Hawaiian by 88.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,530 shares of the bank's stock worth $351,000 after purchasing an additional 6,366 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in First Hawaiian in the fourth quarter valued at about $215,000. Norges Bank acquired a new position in First Hawaiian in the 4th quarter worth $36,266,000. Sterling Capital Management LLC lifted its position in shares of First Hawaiian by 51.0% in the fourth quarter. Sterling Capital Management LLC now owns 7,636 shares of the bank's stock worth $198,000 after purchasing an additional 2,580 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of First Hawaiian by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 619,714 shares of the bank's stock worth $16,082,000 after buying an additional 17,515 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on First Hawaiian from $26.00 to $25.00 and set an "underweight" rating for the company in a research report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their target price on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Barclays decreased their price objective on shares of First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Finally, Wells Fargo & Company lowered their target price on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating for the company in a research note on Wednesday, April 9th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $27.29.

First Hawaiian Trading Down 3.1%

Shares of NASDAQ:FHB traded down $0.74 on Friday, reaching $23.41. 1,370,472 shares of the company traded hands, compared to its average volume of 740,462. First Hawaiian, Inc. has a 52 week low of $19.54 and a 52 week high of $28.80. The business's 50-day simple moving average is $23.29 and its 200 day simple moving average is $25.11. The stock has a market capitalization of $2.94 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 3.28 and a beta of 0.83.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $211.00 million during the quarter, compared to analyst estimates of $210.24 million. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. The company's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.42 earnings per share. Sell-side analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.44%. First Hawaiian's payout ratio is 56.52%.

First Hawaiian 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.