Hsbc Holdings PLC Makes New $4.02 Million Investment in First Hawaiian, Inc. $FHB

Key Points

• HSBC Holdings PLC invested approximately $4.02 million in First Hawaiian, Inc., acquiring 165,254 shares, which represents 0.13% ownership of the bank as of their latest SEC filing.
• Several institutional investors, including Nuveen LLC and Balyasny Asset Management, have also increased their stakes in First Hawaiian, highlighting strong interest in the bank, which is predominantly owned by institutional investors at 97.63%.
• First Hawaiian declared a dividend of $0.26 per share with a payout ratio of 53.61%, set to be paid to stockholders of record on August 18th, indicating a strong dividend yield of 4.1%.

Hsbc Holdings PLC purchased a new position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 165,254 shares of the bank's stock, valued at approximately $4,020,000. Hsbc Holdings PLC owned 0.13% of First Hawaiian at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of FHB. Nuveen LLC purchased a new position in First Hawaiian in the first quarter valued at approximately $16,248,000. Balyasny Asset Management L.P. raised its stake 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 buying an additional 500,535 shares during the period. Reinhart Partners LLC. raised its stake in shares of First Hawaiian by 15.1% in the first quarter. Reinhart Partners LLC. now owns 2,325,881 shares of the bank's stock valued at $56,845,000 after buying an additional 305,439 shares during the period. Northern Trust Corp raised its stake in shares of First Hawaiian by 10.7% in the fourth quarter. Northern Trust Corp now owns 2,188,005 shares of the bank's stock valued at $56,779,000 after buying an additional 211,399 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of First Hawaiian by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,786,438 shares of the bank's stock valued at $141,417,000 after buying an additional 122,013 shares during the period. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Stock Performance

NASDAQ FHB traded up $0.04 on Monday, hitting $25.95. The stock had a trading volume of 1,703,554 shares, compared to its average volume of 1,051,855. First Hawaiian, Inc. has a 52-week low of $20.32 and a 52-week high of $28.80. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 6.29 and a beta of 0.89. The firm has a 50-day moving average of $25.14 and a 200-day moving average of $24.43.

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

First Hawaiian Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 4.0%. First Hawaiian's dividend payout ratio is currently 53.61%.

Analysts Set New Price Targets

Several analysts have issued reports on FHB shares. JPMorgan Chase & Co. boosted their target price on First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Piper Sandler began coverage on First Hawaiian in a research note on Thursday, August 21st. They issued a "neutral" rating and a $26.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Finally, Wall Street Zen upgraded shares of First Hawaiian from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Three investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, First Hawaiian currently has an average rating of "Strong Sell" and an average price target of $27.07.

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.