LPL Financial LLC Purchases 28,134 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Key Points

• LPL Financial LLC has increased its stake in First Hawaiian, Inc. by 16.4%, acquiring an additional 28,134 shares to hold a total of 199,821 shares.
• Analyst ratings reflect mixed sentiment, with four analysts giving First Hawaiian a sell rating while the consensus price target is $27.64.
• First Hawaiian declared a quarterly dividend of $0.26 per share, to be paid on August 29th, representing an annual yield of 4.2%.

LPL Financial LLC lifted its position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 16.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 199,821 shares of the bank's stock after buying an additional 28,134 shares during the period. LPL Financial LLC owned about 0.16% of First Hawaiian worth $4,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FHB. Franklin Resources Inc. increased its holdings in First Hawaiian by 13.1% during the fourth quarter. Franklin Resources Inc. now owns 42,248 shares of the bank's stock valued at $1,096,000 after buying an additional 4,877 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of First Hawaiian by 28.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 207,563 shares of the bank's stock worth $5,386,000 after purchasing an additional 46,374 shares during the period. Cerity Partners LLC boosted its position in shares of First Hawaiian by 30.7% in the fourth quarter. Cerity Partners LLC now owns 35,080 shares of the bank's stock worth $858,000 after purchasing an additional 8,244 shares during the period. Bank of Montreal Can boosted its position in shares of First Hawaiian by 11.9% in the fourth quarter. Bank of Montreal Can now owns 20,028 shares of the bank's stock worth $520,000 after purchasing an additional 2,126 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of First Hawaiian in the fourth quarter worth approximately $32,086,000. Institutional investors own 97.63% of the company's stock.

Analyst Ratings Changes

FHB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Wall Street Zen upgraded shares of First Hawaiian from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Keefe, Bruyette & Woods dropped their price target on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. Finally, Wells Fargo & Company upped their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research report on Thursday, July 10th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $27.64.

First Hawaiian Trading Up 1.9%

Shares of FHB opened at $25.03 on Thursday. First Hawaiian, Inc. has a twelve month low of $20.32 and a twelve month high of $28.80. The company has a market cap of $3.12 billion, a P/E ratio of 12.90, a P/E/G ratio of 5.98 and a beta of 0.84. The company's fifty day simple moving average is $24.74 and its 200-day simple moving average is $24.66.

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

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.2%. First Hawaiian's dividend payout ratio (DPR) is presently 53.61%.

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.

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