Hsbc Holdings PLC Acquires New Shares in First Hawaiian, Inc. $FHB

Key Points

• HSBC Holdings acquired 55,141 shares of First Hawaiian worth approximately $1.61 million during the second quarter. Institutional investors collectively own 97.63% of the bank’s stock.
• Analyst sentiment remains cautious, with a consensus rating of “Reduce” and an average price target of $30.25. Recent actions included an upgrade to “overweight” from Stephens and downgrades or “hold” ratings from other firms.
• First Hawaiian exceeded quarterly expectations, reporting $0.60 in EPS versus the $0.58 estimate and revenue of $231.27 million. The company also maintains a quarterly dividend of $0.26, equal to a 4.0% annualized yield.

Hsbc Holdings PLC acquired a new position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 55,141 shares of the bank's stock, valued at approximately $1,611,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in shares of First Hawaiian in the 2nd quarter valued at $483,971,000. Ieq Capital LLC acquired a new position in First Hawaiian during the second quarter worth $2,653,000. Quantinno Capital Management LP raised its holdings in First Hawaiian by 60.3% during the first quarter. Quantinno Capital Management LP now owns 1,798,815 shares of the bank's stock valued at $44,323,000 after buying an additional 676,433 shares in the last quarter. Bank of America Corp DE lifted its position in shares of First Hawaiian by 36.6% in the first quarter. Bank of America Corp DE now owns 1,086,157 shares of the bank's stock worth $26,763,000 after buying an additional 291,271 shares during the last quarter. Finally, Entropy Technologies LP lifted its position in shares of First Hawaiian by 637.3% in the first quarter. Entropy Technologies LP now owns 74,426 shares of the bank's stock worth $1,834,000 after buying an additional 64,332 shares during the last quarter. Institutional investors own 97.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays increased their price objective on First Hawaiian from $28.00 to $30.00 and gave the company an "equal weight" rating in a report on Tuesday, July 7th. Benchmark reaffirmed a "hold" rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Zacks Research downgraded First Hawaiian from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 13th. Wells Fargo & Company increased their price target on First Hawaiian from $26.00 to $28.00 and gave the company an "underweight" rating in a report on Monday, July 6th. Finally, Stephens raised shares of First Hawaiian from an "equal weight" rating to an "overweight" rating and set a $33.00 price target on the stock in a research report on Thursday, August 6th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $30.25.

First Hawaiian Stock Performance

NASDAQ FHB opened at $25.79 on Monday. The stock has a 50-day simple moving average of $28.26 and a 200 day simple moving average of $26.91. First Hawaiian, Inc. has a twelve month low of $22.65 and a twelve month high of $30.58. The stock has a market capitalization of $3.14 billion, a PE ratio of 11.21, a P/E/G ratio of 1.63 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The firm had revenue of $231.27 million for the quarter, compared to analyst estimates of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same quarter last year, the firm posted $0.58 EPS. As a group, equities research analysts forecast that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were paid a $0.26 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. First Hawaiian's dividend payout ratio (DPR) is presently 45.22%.

First Hawaiian Profile

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.

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