664,823 Shares in First Hawaiian, Inc. $FHB Bought by Nuveen LLC

Key Points

• Nuveen LLC has invested approximately $16.25 million in First Hawaiian, acquiring 664,823 shares and holding about 0.53% of the company's stock as of the latest SEC disclosure.
• First Hawaiian's stock has seen a 52-week range from $20.32 to $28.80, with a current market capitalization of $3.07 billion and a PE ratio of 12.69.
• The bank recently reported earnings of $0.58 EPS, exceeding analyst expectations, and announced a quarterly dividend of $0.26 per share, reflecting a 4.2% yield.

Nuveen LLC bought a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 664,823 shares of the bank's stock, valued at approximately $16,248,000. Nuveen LLC owned about 0.53% of First Hawaiian as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. SummerHaven Investment Management LLC boosted its position in First Hawaiian by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 36,493 shares of the bank's stock worth $892,000 after acquiring an additional 521 shares during the last quarter. CWM LLC boosted its holdings in shares of First Hawaiian by 7.5% in the 1st quarter. CWM LLC now owns 12,769 shares of the bank's stock valued at $312,000 after purchasing an additional 894 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of First Hawaiian by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock valued at $109,000 after purchasing an additional 920 shares during the last quarter. Retirement Planning Group LLC boosted its holdings in shares of First Hawaiian by 2.8% in the 4th quarter. Retirement Planning Group LLC now owns 34,634 shares of the bank's stock valued at $899,000 after purchasing an additional 938 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of First Hawaiian by 12.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,511 shares of the bank's stock valued at $208,000 after purchasing an additional 946 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

Wall Street Analysts Forecast Growth

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

First Hawaiian Stock Up 1.1%

Shares of FHB stock traded up $0.28 during mid-day trading on Tuesday, reaching $25.59. The company's stock had a trading volume of 1,001,795 shares, compared to its average volume of 1,000,066. The company's 50 day simple moving average is $24.94 and its 200-day simple moving average is $24.49. First Hawaiian, Inc. has a 12-month low of $20.32 and a 12-month high of $28.80. The firm has a market capitalization of $3.19 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 6.14 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly 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 firm had revenue of $217.54 million for the quarter, compared to the consensus estimate of $214.67 million. During the same quarter in the previous year, the firm posted $0.48 EPS. As a group, research analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.04 annualized dividend and a yield of 4.1%. First Hawaiian's payout ratio is 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.