Mackenzie Financial Corp Invests $448,000 in First Hawaiian, Inc. (NASDAQ:FHB)

Mackenzie Financial Corp bought a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,347 shares of the bank's stock, valued at approximately $448,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of First Hawaiian during the 4th quarter worth approximately $32,086,000. Balyasny Asset Management L.P. grew its position in First Hawaiian by 427.1% during 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. grew its position in First Hawaiian by 15.1% during 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. First Trust Advisors LP increased its holdings in First Hawaiian by 40.7% in the fourth quarter. First Trust Advisors LP now owns 927,586 shares of the bank's stock valued at $24,071,000 after buying an additional 268,191 shares in the last quarter. Finally, Northern Trust Corp raised its position 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 worth $56,779,000 after acquiring an additional 211,399 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Price Performance

Shares of NASDAQ FHB opened at $23.66 on Friday. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 12.20, a price-to-earnings-growth ratio of 5.81 and a beta of 0.84. The stock's 50-day moving average is $24.69 and its two-hundred day moving average is $24.71. First Hawaiian, Inc. has a 1-year low of $20.32 and a 1-year high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.09. The business had revenue of $217.54 million for the quarter, compared to analyst estimates of $214.67 million. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. During the same period last year, the business earned $0.48 EPS. Equities research analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.4%. First Hawaiian's payout ratio is 53.61%.

Analyst Upgrades and Downgrades

FHB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective 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. 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 decreased their price target on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company boosted their price objective on First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Thursday, July 10th. Finally, Barclays reissued an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $27.64.

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.

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