Strs Ohio Makes New Investment in First Hawaiian, Inc. $FHB

Key Points

• Strs Ohio invested $1.74 million in First Hawaiian, Inc., acquiring 71,058 shares, which represents 0.06% of the company's stock.
• First Hawaiian reported earnings of $0.58 per share for the quarter, exceeding estimates, and announced a quarterly dividend of $0.26, yielding 4.1% annually.
• Institutional investors own 97.63% of First Hawaiian's stock, with several firms adjusting their positions in the bank during the first quarter.

Strs Ohio bought a new stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 71,058 shares of the bank's stock, valued at approximately $1,737,000. Strs Ohio owned approximately 0.06% of First Hawaiian at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. SummerHaven Investment Management LLC increased its position in shares of First Hawaiian by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 36,493 shares of the bank's stock worth $892,000 after acquiring an additional 521 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of First Hawaiian by 199.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank's stock valued at $26,000 after purchasing an additional 705 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of First Hawaiian by 9.3% in the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank's stock valued at $246,000 after purchasing an additional 856 shares in the last quarter. CWM LLC raised its position in First Hawaiian by 7.5% in the 1st quarter. CWM LLC now owns 12,769 shares of the bank's stock valued at $312,000 after buying an additional 894 shares during the last quarter. Finally, Parallel Advisors LLC raised its position in First Hawaiian by 26.0% in the 1st 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 last quarter. 97.63% of the stock is owned by institutional investors.

First Hawaiian Stock Down 1.1%

Shares of NASDAQ:FHB traded down $0.29 during midday trading on Friday, reaching $25.67. 2,070,554 shares of the company traded hands, compared to its average volume of 908,681. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 13.23, a price-to-earnings-growth ratio of 6.29 and a beta of 0.89. First Hawaiian, Inc. has a 12 month low of $20.32 and a 12 month high of $28.80. The firm's fifty day moving average price is $25.15 and its two-hundred day moving average price is $24.35.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, beating 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 business had revenue of $217.54 million during the quarter, compared to analyst estimates of $214.67 million. During the same quarter in the previous year, the firm earned $0.48 EPS. Analysts forecast 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 was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.1%. First Hawaiian's dividend payout ratio is presently 53.61%.

Analysts Set New Price Targets

Several analysts have recently issued reports on FHB shares. JPMorgan Chase & Co. upped their target price on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Barclays restated an "underweight" rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Piper Sandler assumed coverage on shares of First Hawaiian in a research note on Thursday, August 21st. They set a "neutral" rating and a $26.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Thursday, July 10th. Three research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Strong Sell" and a consensus target price of $27.07.

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.