Ieq Capital LLC Purchases New Position in First Hawaiian, Inc. $FHB

Key Points

• Ieq Capital LLC acquired 90,552 shares of First Hawaiian in the second quarter, valued at approximately $2.65 million and representing 0.07% of the company. Institutional investors and hedge funds collectively own 97.63% of FHB.
• Analyst sentiment remains cautious: the stock has an average rating of “Reduce” and an average price target of $30.25, despite Stephens upgrading the shares to “overweight.”
• First Hawaiian beat quarterly expectations with EPS of $0.60 versus $0.58 expected and revenue of $231.27 million. The company declared a $0.26 quarterly dividend, equivalent to a 4.0% annualized yield.

Ieq Capital LLC bought a new position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 90,552 shares of the bank's stock, valued at approximately $2,653,000. Ieq Capital LLC owned 0.07% of First Hawaiian at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of FHB. Eurizon Capital SGR S.p.A. purchased a new position in First Hawaiian in the 4th quarter valued at about $26,000. Elevation Wealth Partners LLC increased its position in shares of First Hawaiian by 378.5% during the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank's stock worth $27,000 after acquiring an additional 738 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of First Hawaiian by 2,916.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank's stock worth $27,000 after acquiring an additional 1,050 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of First Hawaiian by 45.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank's stock worth $43,000 after acquiring an additional 534 shares in the last quarter. Finally, Danske Bank A S purchased a new position in First Hawaiian in the third quarter valued at about $47,000. Institutional investors and hedge funds own 97.63% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on FHB shares. Wells Fargo & Company increased 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. Wall Street Zen lowered First Hawaiian from a "hold" rating to a "sell" rating in a report on Sunday, August 2nd. Stephens upgraded First Hawaiian from an "equal weight" rating to an "overweight" rating and set a $33.00 price objective on the stock in a research note on Thursday, August 6th. TD Cowen reduced their target price on First Hawaiian from $32.00 to $31.00 and set a "hold" rating on the stock in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. lifted their target price on First Hawaiian from $27.00 to $31.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 1st. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $30.25.

First Hawaiian Price Performance

FHB opened at $26.04 on Tuesday. First Hawaiian, Inc. has a 12 month low of $22.65 and a 12 month high of $30.58. The stock has a market cap of $3.17 billion, a P/E ratio of 11.32, a P/E/G ratio of 1.66 and a beta of 0.73. The stock's 50 day moving average price is $28.43 and its 200 day moving average price is $26.94.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $231.27 million during the quarter, compared to analysts' expectations of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same period last year, the firm posted $0.58 earnings per share. Equities analysts anticipate that First Hawaiian, Inc. will post 2.34 EPS for the current year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be issued a $0.26 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. First Hawaiian's dividend payout ratio is 45.22%.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source