Jupiter Topco LLC Makes New Investment in First Hawaiian, Inc. $FHB

Jupiter Topco LLC purchased a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 54,154 shares of the bank's stock, valued at approximately $1,586,000.

Other institutional investors have also modified their holdings of the company. Elevation Wealth Partners LLC raised its holdings in First Hawaiian by 378.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank's stock worth $27,000 after buying an additional 738 shares during the period. Eurizon Capital SGR S.p.A. bought a new stake in shares of First Hawaiian during the fourth quarter worth $26,000. Northwestern Mutual Wealth Management Co. raised its holdings 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 period. Global Retirement Partners LLC lifted its position in First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank's stock valued at $43,000 after acquiring an additional 534 shares in the last quarter. Finally, Danske Bank A S bought a new stake in First Hawaiian in the 3rd quarter valued at $47,000. Institutional investors own 97.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a "buy (b)" rating on shares of First Hawaiian in a report on Monday, July 6th. Barclays upped their price objective on First Hawaiian from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. TD Cowen decreased their price objective on First Hawaiian from $32.00 to $31.00 and set a "hold" rating for the company in a report on Wednesday, July 29th. Benchmark reissued a "hold" rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Finally, The Goldman Sachs Group boosted their target price on First Hawaiian from $27.00 to $30.00 and gave the company a "sell" rating in a research note on Tuesday, July 7th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus price target of $30.25.

First Hawaiian Trading Up 0.3%

Shares of FHB opened at $26.07 on Friday. The company's fifty day simple moving average is $27.94 and its 200 day simple moving average is $26.88. First Hawaiian, Inc. has a 1-year low of $22.65 and a 1-year high of $30.58. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.64 and a beta of 0.72.

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

First Hawaiian Announces Dividend

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

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