Nuveen LLC Takes $16.25 Million Position in First Hawaiian, Inc. $FHB

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 purchased a new stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 664,823 shares of the bank's stock, valued at approximately $16,248,000. Nuveen LLC owned 0.53% of First Hawaiian at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new position in First Hawaiian in the 1st quarter valued at $44,000. Versant Capital Management Inc boosted its position in shares of First Hawaiian by 65.1% during the 1st quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock valued at $76,000 after acquiring an additional 1,233 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of First Hawaiian by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock valued at $109,000 after acquiring an additional 920 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of First Hawaiian by 36.4% during the first quarter. GAMMA Investing LLC now owns 4,943 shares of the bank's stock worth $121,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of First Hawaiian in the first quarter worth approximately $161,000. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on FHB shares. Wall Street Zen upgraded shares of First Hawaiian from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Wells Fargo & Company lifted their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. Barclays reissued an "underweight" rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Piper Sandler began coverage on First Hawaiian in a research report on Thursday. They set a "neutral" rating and a $26.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Three analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and a consensus price target of $27.07.

First Hawaiian Stock Performance

NASDAQ:FHB traded up $0.90 during trading hours on Friday, reaching $25.51. The company's stock had a trading volume of 1,225,328 shares, compared to its average volume of 1,016,081. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 6.21 and a beta of 0.84. The firm has a 50-day simple moving average of $24.85 and a 200-day simple moving average of $24.52. 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 issued its earnings results on Friday, July 25th. The bank reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.09. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. The company had revenue of $217.54 million for the quarter, compared to analysts' expectations of $214.67 million. During the same quarter last year, the company earned $0.48 EPS. Equities 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. Shareholders of record on Monday, August 18th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, August 18th. 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.