First Hawaiian, Inc. $FHB Shares Bought by Reinhart Partners LLC.

Key Points

• Reinhart Partners LLC increased its stake in First Hawaiian, Inc. by 0.7%, now owning 2,343,300 shares, which constitutes approximately 2.0% of their portfolio.
• Wells Fargo and other analysts have set a range of target prices for First Hawaiian, with a current consensus price target of $27.07 and an average rating of "Strong Sell".
• First Hawaiian recently announced a quarterly dividend of $0.26 per share, yielding 4.1%, with a dividend payout ratio of 53.61%.

Reinhart Partners LLC. raised its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,343,300 shares of the bank's stock after purchasing an additional 17,419 shares during the quarter. First Hawaiian accounts for approximately 2.0% of Reinhart Partners LLC.'s investment portfolio, making the stock its 26th largest holding. Reinhart Partners LLC. owned approximately 1.86% of First Hawaiian worth $58,489,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of First Hawaiian by 199.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank's stock valued at $26,000 after buying an additional 705 shares during the period. Headlands Technologies LLC purchased a new position in shares of First Hawaiian during the first quarter valued at $44,000. Versant Capital Management Inc increased its stake in shares of First Hawaiian by 65.1% during the first quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock valued at $76,000 after buying an additional 1,233 shares during the period. Parallel Advisors LLC increased its stake in shares of First Hawaiian by 26.0% during the first quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock valued at $109,000 after buying an additional 920 shares during the period. Finally, GAMMA Investing LLC grew its stake in First Hawaiian by 36.4% in the first quarter. GAMMA Investing LLC now owns 4,943 shares of the bank's stock valued at $121,000 after purchasing an additional 1,319 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Trading Down 1.1%

Shares of FHB stock traded down $0.29 during trading hours on Friday, reaching $25.67. 2,070,554 shares of the company's stock were exchanged, compared to its average volume of 908,681. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.80. The stock has a market cap of $3.20 billion, a PE ratio of 13.23, a PEG ratio of 6.22 and a beta of 0.89. The stock's fifty day moving average price is $25.15 and its two-hundred day moving average price is $24.34.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released 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 return on equity of 9.29% and a net margin of 21.45%.The firm had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, equities analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.1%. First Hawaiian's payout ratio is 53.61%.

Analysts Set New Price Targets

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

First Hawaiian 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.