Harbor Capital Advisors Inc. Has $12.82 Million Stock Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Harbor Capital Advisors Inc. boosted its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 15.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 524,555 shares of the bank's stock after purchasing an additional 68,727 shares during the quarter. First Hawaiian comprises approximately 0.6% of Harbor Capital Advisors Inc.'s investment portfolio, making the stock its 29th biggest position. Harbor Capital Advisors Inc. owned about 0.42% of First Hawaiian worth $12,820,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of First Hawaiian during the 4th quarter worth about $36,266,000. Raymond James Financial Inc. bought a new stake in shares of First Hawaiian during the fourth quarter worth approximately $32,086,000. Alliancebernstein L.P. grew its position in shares of First Hawaiian by 19.7% in the fourth quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank's stock valued at $136,087,000 after purchasing an additional 864,420 shares during the last quarter. Balyasny Asset Management L.P. grew its position in shares of First Hawaiian by 427.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 617,717 shares of the bank's stock valued at $16,030,000 after purchasing an additional 500,535 shares during the last quarter. Finally, Reinhart Partners LLC. increased its stake in shares of First Hawaiian by 15.1% during the first quarter. Reinhart Partners LLC. now owns 2,325,881 shares of the bank's stock worth $56,845,000 after purchasing an additional 305,439 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Performance

Shares of NASDAQ FHB traded down $0.06 during trading hours on Wednesday, hitting $24.32. 182,515 shares of the stock were exchanged, compared to its average volume of 732,028. The company's fifty day simple moving average is $23.19 and its two-hundred day simple moving average is $25.15. The company has a market cap of $3.06 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 3.28 and a beta of 0.83. First Hawaiian, Inc. has a 1-year low of $19.49 and a 1-year high of $28.80.

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

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.28%. The ex-dividend date was Monday, May 19th. First Hawaiian's dividend payout ratio (DPR) is presently 56.52%.

Analyst Upgrades and Downgrades

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

About First Hawaiian

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.