Oak Thistle LLC Invests $1.24 Million in First Hawaiian, Inc. $FHB

Key Points

• Oak Thistle LLC opened a new position in First Hawaiian (NASDAQ:FHB), buying 49,138 shares valued at approximately $1.24 million during Q4.
• First Hawaiian reported $0.56 EPS (beating by $0.01) on ~$225.9M revenue and pays a quarterly dividend of $0.26 (annualized $1.04, yield 3.9%); the bank has a market cap of ~$3.28B and a P/E of 12.15.
• Institutional investors own about 97.63% of the stock, while Wall Street sentiment is mixed with a MarketBeat consensus of "Reduce" and a consensus price target of $26.93.

Oak Thistle LLC bought a new position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 49,138 shares of the bank's stock, valued at approximately $1,243,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FHB. American Century Companies Inc. grew its position in shares of First Hawaiian by 131.9% in the 3rd quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank's stock worth $71,800,000 after buying an additional 1,644,752 shares during the period. AQR Capital Management LLC grew its position in shares of First Hawaiian by 230.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank's stock worth $54,784,000 after buying an additional 1,539,415 shares during the period. Two Sigma Investments LP grew its position in shares of First Hawaiian by 162.4% in the 3rd quarter. Two Sigma Investments LP now owns 536,855 shares of the bank's stock worth $13,330,000 after buying an additional 332,258 shares during the period. First Trust Advisors LP grew its position in shares of First Hawaiian by 24.2% in the 3rd quarter. First Trust Advisors LP now owns 905,949 shares of the bank's stock worth $22,495,000 after buying an additional 176,666 shares during the period. Finally, Quantinno Capital Management LP grew its position in shares of First Hawaiian by 117.6% in the 2nd quarter. Quantinno Capital Management LP now owns 312,038 shares of the bank's stock worth $7,788,000 after buying an additional 168,649 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Performance

Shares of FHB stock opened at $26.73 on Friday. First Hawaiian, Inc. has a one year low of $20.54 and a one year high of $28.35. The company's 50-day moving average is $25.32 and its 200 day moving average is $25.32. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 2.76 and a beta of 0.71.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data on Friday, January 30th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $225.85 million during the quarter, compared to the consensus estimate of $225.33 million. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.During the same period last year, the company earned $0.41 EPS. As a group, research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, February 13th. First Hawaiian's payout ratio is presently 47.27%.

Insider Buying and Selling at First Hawaiian

In other news, Director Craig Scott Wo sold 1,500 shares of the business's stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

FHB has been the topic of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of First Hawaiian from $24.00 to $26.00 and gave the company an "underweight" rating in a research report on Monday, March 30th. TD Cowen reissued a "hold" rating on shares of First Hawaiian in a research report on Monday, February 2nd. The Goldman Sachs Group set a $27.50 price objective on shares of First Hawaiian and gave the company a "sell" rating in a research report on Tuesday, January 6th. Weiss Ratings raised shares of First Hawaiian from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 9th. Finally, JPMorgan Chase & Co. cut their price objective on shares of First Hawaiian from $29.00 to $25.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 1st. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, First Hawaiian presently has a consensus rating of "Reduce" and a consensus price target of $26.93.

First Hawaiian Company Profile

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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