The Manufacturers Life Insurance Company Buys 360,088 Shares of First Hawaiian, Inc. $FHB

Key Points

• The Manufacturers Life Insurance Company increased its stake in First Hawaiian, Inc. by 3.6% in Q1, holding approximately 10.49 million shares valued at $256.46 million.
• First Hawaiian reported an earnings per share (EPS) of $0.58, exceeding the estimated $0.49, with a net margin of 21.45% for the quarter.
• The company declared a quarterly dividend of $0.26 per share, representing a yield of 4.0%, payable on August 29th.

The Manufacturers Life Insurance Company lifted its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,493,396 shares of the bank's stock after purchasing an additional 360,088 shares during the quarter. The Manufacturers Life Insurance Company owned 8.35% of First Hawaiian worth $256,459,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of First Hawaiian by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,786,438 shares of the bank's stock worth $141,417,000 after purchasing an additional 122,013 shares in the last quarter. Reinhart Partners LLC. raised its holdings in shares of 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 period. Northern Trust Corp raised its holdings in shares of First Hawaiian by 2.1% during the first quarter. Northern Trust Corp now owns 2,233,354 shares of the bank's stock worth $54,583,000 after acquiring an additional 45,349 shares during the period. Raymond James Financial Inc. raised its holdings in shares of First Hawaiian by 4.8% during the first quarter. Raymond James Financial Inc. now owns 1,295,267 shares of the bank's stock worth $31,656,000 after acquiring an additional 58,793 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of First Hawaiian by 10.3% during the first quarter. Wellington Management Group LLP now owns 771,295 shares of the bank's stock worth $18,850,000 after acquiring an additional 72,071 shares during the period. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on FHB shares. JPMorgan Chase & Co. raised their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a report on Tuesday, July 1st. Piper Sandler started coverage on shares of First Hawaiian in a report on Thursday, August 21st. They set a "neutral" rating and a $26.00 price objective on the stock. Wall Street Zen upgraded shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Strong Sell" and a consensus target price of $27.07.

First Hawaiian Trading Up 0.0%

Shares of First Hawaiian stock traded up $0.01 during trading on Wednesday, hitting $25.70. 189,923 shares of the stock were exchanged, compared to its average volume of 905,991. The stock has a market capitalization of $3.20 billion, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 6.29 and a beta of 0.89. The company has a fifty day moving average price of $25.17 and a 200-day moving average price of $24.44. First Hawaiian, Inc. has a 1-year low of $20.32 and a 1-year high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.09. The company had revenue of $217.54 million for the quarter, compared to analyst estimates of $214.67 million. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. During the same period in the previous year, the business earned $0.48 EPS. Equities research analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The business 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 annualized dividend and a dividend yield of 4.0%. First Hawaiian's payout ratio is presently 53.61%.

About First Hawaiian

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.