Vanguard Group Inc. Grows Position in First Hawaiian, Inc. $FHB

Key Points

• Vanguard Group boosted its Q4 stake in First Hawaiian by 2.5% to 14,457,575 shares, representing a 11.69% ownership worth about $365.8 million.
• Dividend announced: First Hawaiian declared a quarterly dividend of $0.26 (annualized $1.04) for a 3.8% yield
• Analyst consensus is a "Reduce" rating with a $27.56 consensus price target; the mix is 1 Buy, 5 Hold and 3 Sell, with recent target cuts and underweight calls from major banks.

Vanguard Group Inc. boosted its position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,457,575 shares of the bank's stock after acquiring an additional 358,632 shares during the quarter. Vanguard Group Inc. owned 11.69% of First Hawaiian worth $365,777,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FHB. Farther Finance Advisors LLC raised its holdings in shares of First Hawaiian by 74.9% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank's stock valued at $25,000 after purchasing an additional 438 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of First Hawaiian by 9.4% during the fourth quarter. GAMMA Investing LLC now owns 5,626 shares of the bank's stock worth $142,000 after purchasing an additional 485 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of First Hawaiian by 5.5% during the third quarter. PNC Financial Services Group Inc. now owns 10,941 shares of the bank's stock worth $272,000 after purchasing an additional 567 shares in the last quarter. Natixis Advisors LLC increased its holdings in First Hawaiian by 3.2% in the third quarter. Natixis Advisors LLC now owns 21,339 shares of the bank's stock valued at $530,000 after buying an additional 656 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in First Hawaiian by 26.7% in the third quarter. Smartleaf Asset Management LLC now owns 4,000 shares of the bank's stock valued at $100,000 after buying an additional 842 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on FHB shares. Weiss Ratings raised First Hawaiian from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 9th. Stephens set a $28.00 target price on First Hawaiian in a research report on Monday, April 27th. Wells Fargo & Company boosted their target price on First Hawaiian from $24.00 to $26.00 and gave the stock an "underweight" rating in a research note on Monday, March 30th. Wall Street Zen upgraded shares of First Hawaiian from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, JPMorgan Chase & Co. cut their price objective on shares of First Hawaiian from $29.00 to $25.00 and set an "underweight" rating on the stock in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $27.56.

Insider Transactions at First Hawaiian

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of First Hawaiian stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.66% of the company's stock.

First Hawaiian Stock Up 0.4%

FHB opened at $27.62 on Thursday. First Hawaiian, Inc. has a 52 week low of $22.65 and a 52 week high of $28.35. The business's 50 day moving average is $25.44 and its two-hundred day moving average is $25.61. The firm has a market cap of $3.36 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 2.03 and a beta of 0.75.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $220.35 million during the quarter, compared to the consensus estimate of $223.59 million. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.During the same period in the prior year, the company earned $0.47 earnings per share. Equities analysts expect that First Hawaiian, Inc. will post 2.33 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Monday, May 18th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Monday, May 18th. First Hawaiian's dividend payout ratio (DPR) is presently 45.61%.

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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