Public Sector Pension Investment Board Boosts Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Key Points

• The Public Sector Pension Investment Board has increased its stake in First Hawaiian, Inc. by 25.2%, acquiring an additional 80,694 shares to total approximately 400,957 shares valued at about $9.8 million.
• First Hawaiian recently reported a quarterly earnings of $0.58 per share, surpassing analysts' expectations of $0.49, with a revenue of $217.54 million.
• The company declared a quarterly dividend of $0.26 per share, representing an annualized dividend of $1.04 and a yield of 4.2%, with a payout ratio of 53.61%.

Public Sector Pension Investment Board lifted its position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 25.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 400,957 shares of the bank's stock after purchasing an additional 80,694 shares during the quarter. Public Sector Pension Investment Board owned about 0.32% of First Hawaiian worth $9,799,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in First Hawaiian during the fourth quarter worth approximately $32,086,000. Nuveen LLC bought a new stake in First Hawaiian during the first quarter worth approximately $16,248,000. Balyasny Asset Management L.P. increased its stake 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 worth $16,030,000 after acquiring an additional 500,535 shares during the last quarter. Reinhart Partners LLC. increased its stake in First Hawaiian by 15.1% during the first quarter. Reinhart Partners LLC. now owns 2,325,881 shares of the bank's stock worth $56,845,000 after acquiring an additional 305,439 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in First Hawaiian by 40.7% during the fourth quarter. First Trust Advisors LP now owns 927,586 shares of the bank's stock worth $24,071,000 after acquiring an additional 268,191 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

First Hawaiian Price Performance

Shares of NASDAQ:FHB traded down $0.57 during trading hours on Friday, hitting $24.50. 1,160,078 shares of the company's stock traded hands, compared to its average volume of 977,086. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.80. The business has a fifty day moving average price of $24.77 and a 200-day moving average price of $24.62. The firm has a market capitalization of $3.05 billion, a P/E ratio of 12.63, a price-to-earnings-growth ratio of 5.97 and a beta of 0.84.

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

First Hawaiian Dividend Announcement

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 issued a $0.26 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. First Hawaiian's payout ratio is presently 53.61%.

Analyst Upgrades and Downgrades

FHB has been the topic of several analyst reports. Barclays reissued an "underweight" rating on shares of First Hawaiian in a research note on Tuesday, July 8th. JPMorgan Chase & Co. boosted their price objective on First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Keefe, Bruyette & Woods reduced their price objective on 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. Wall Street Zen upgraded First Hawaiian from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Finally, Wells Fargo & Company boosted their target price on First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research report on Thursday, July 10th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to MarketBeat, the company presently has an average 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.