Envestnet Asset Management Inc. Buys 46,374 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Envestnet Asset Management Inc. raised its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 207,563 shares of the bank's stock after acquiring an additional 46,374 shares during the period. Envestnet Asset Management Inc. owned approximately 0.16% of First Hawaiian worth $5,386,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CKW Financial Group grew its position in First Hawaiian by 1.2% during the 4th quarter. CKW Financial Group now owns 32,600 shares of the bank's stock valued at $846,000 after purchasing an additional 400 shares during the last quarter. M&T Bank Corp grew its holdings in shares of First Hawaiian by 2.5% during the fourth quarter. M&T Bank Corp now owns 16,661 shares of the bank's stock valued at $432,000 after buying an additional 409 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of First Hawaiian by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 3,624 shares of the bank's stock valued at $94,000 after buying an additional 461 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of First Hawaiian by 32.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank's stock valued at $74,000 after acquiring an additional 693 shares in the last quarter. Finally, HighPoint Advisor Group LLC raised its holdings in First Hawaiian by 6.8% in the 4th quarter. HighPoint Advisor Group LLC now owns 12,086 shares of the bank's stock worth $335,000 after acquiring an additional 765 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Down 0.8 %

FHB traded down $0.19 during trading on Friday, hitting $22.85. The company's stock had a trading volume of 889,579 shares, compared to its average volume of 725,437. The business's 50 day simple moving average is $24.20 and its 200-day simple moving average is $25.53. The firm has a market cap of $2.88 billion, a PE ratio of 12.77, a P/E/G ratio of 3.28 and a beta of 0.77. First Hawaiian, Inc. has a one year low of $19.48 and a one year high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. The company had revenue of $211.00 million for the quarter, compared to analysts' expectations of $210.24 million. Equities research 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 will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.55%. The ex-dividend date is Monday, May 19th. First Hawaiian's dividend payout ratio is 58.10%.

Wall Street Analyst Weigh In

Several analysts have commented on FHB shares. Barclays cut their target price on First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their price objective on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a research report on Thursday. The Goldman Sachs Group boosted their target price on First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a research report on Monday, February 3rd. Wells Fargo & Company lowered their target price on shares of First Hawaiian from $24.00 to $22.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Piper Sandler boosted their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $27.29.

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.