Quantbot Technologies LP Purchases New Position in First Hawaiian, Inc. $FHB

Key Points

• Quantbot Technologies LP acquired 62,969 shares of First Hawaiian, valued at approximately $1.85 million, while institutional investors collectively own 97.63% of the company.
• First Hawaiian exceeded quarterly earnings expectations, reporting $0.60 in EPS versus the $0.58 consensus estimate and revenue of $231.27 million versus $227.77 million expected.
• The bank declared a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a 4.0% yield. Analysts maintain a generally cautious outlook, with an average “Reduce” rating and a $30.25 price target.

Quantbot Technologies LP purchased a new stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,969 shares of the bank's stock, valued at approximately $1,845,000. Quantbot Technologies LP owned about 0.05% of First Hawaiian as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. acquired a new position in shares of First Hawaiian in the 4th quarter valued at $26,000. Elevation Wealth Partners LLC raised its stake in First Hawaiian by 378.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank's stock worth $27,000 after acquiring an additional 738 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in First Hawaiian by 2,916.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank's stock worth $27,000 after acquiring an additional 1,050 shares in the last quarter. Global Retirement Partners LLC lifted its position in First Hawaiian by 45.7% in the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank's stock valued at $43,000 after acquiring an additional 534 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in First Hawaiian in the third quarter valued at $47,000. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Stock Down 1.1%

Shares of First Hawaiian stock opened at $26.04 on Tuesday. The firm has a market cap of $3.17 billion, a price-to-earnings ratio of 11.32, a price-to-earnings-growth ratio of 1.66 and a beta of 0.73. First Hawaiian, Inc. has a 52-week low of $22.65 and a 52-week high of $30.58. The company's 50-day simple moving average is $28.43 and its 200-day simple moving average is $26.94.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The firm had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same quarter last year, the firm earned $0.58 earnings per share. Equities research analysts anticipate that First Hawaiian, Inc. will post 2.34 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. First Hawaiian's dividend payout ratio (DPR) is 45.22%.

Analyst Ratings Changes

Several research firms have recently weighed in on FHB. Piper Sandler boosted their target price on First Hawaiian from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, July 27th. JPMorgan Chase & Co. lifted their price target on First Hawaiian from $27.00 to $31.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 1st. The Goldman Sachs Group increased their price objective on First Hawaiian from $27.00 to $30.00 and gave the company a "sell" rating in a report on Tuesday, July 7th. Wells Fargo & Company lifted their target price on shares of First Hawaiian from $26.00 to $28.00 and gave the company an "underweight" rating in a report on Monday, July 6th. Finally, Stephens upgraded shares of First Hawaiian from an "equal weight" rating to an "overweight" rating and set a $33.00 price target for the company in a research report on Thursday, August 6th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, First Hawaiian has an average rating of "Reduce" and an average price target of $30.25.

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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