Louisiana State Employees Retirement System Buys Shares of 63,800 First Hawaiian, Inc. (NASDAQ:FHB)

Louisiana State Employees Retirement System bought a new stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 63,800 shares of the bank's stock, valued at approximately $1,458,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Citigroup Inc. increased its stake in First Hawaiian by 8.5% in the first quarter. Citigroup Inc. now owns 140,077 shares of the bank's stock valued at $3,907,000 after purchasing an additional 10,978 shares during the last quarter. Natixis Advisors L.P. increased its stake in First Hawaiian by 47.5% in the first quarter. Natixis Advisors L.P. now owns 19,082 shares of the bank's stock valued at $532,000 after purchasing an additional 6,147 shares during the last quarter. MetLife Investment Management LLC purchased a new position in First Hawaiian in the first quarter valued at approximately $71,000. Rhumbline Advisers grew its position in shares of First Hawaiian by 0.5% during the first quarter. Rhumbline Advisers now owns 313,549 shares of the bank's stock worth $8,745,000 after acquiring an additional 1,501 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its position in shares of First Hawaiian by 1.3% during the first quarter. Great West Life Assurance Co. Can now owns 114,424 shares of the bank's stock worth $3,272,000 after acquiring an additional 1,452 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Stock Up 2.3 %

NASDAQ:FHB traded up $0.47 during midday trading on Friday, reaching $21.00. The stock had a trading volume of 866,053 shares, compared to its average volume of 553,462. The firm has a fifty day simple moving average of $21.25 and a two-hundred day simple moving average of $20.67. First Hawaiian, Inc. has a 12-month low of $15.08 and a 12-month high of $23.22. The stock has a market cap of $2.68 billion, a P/E ratio of 11.41 and a beta of 1.01.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Friday, January 26th. The bank reported $0.37 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by ($0.08). First Hawaiian had a net margin of 20.90% and a return on equity of 9.87%. The firm had revenue of $210.14 million during the quarter, compared to analysts' expectations of $201.09 million. During the same quarter last year, the business earned $0.62 earnings per share. On average, sell-side analysts anticipate that First Hawaiian, Inc. will post 1.69 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.95%. The ex-dividend date was Thursday, February 15th. First Hawaiian's dividend payout ratio (DPR) is currently 56.52%.

Wall Street Analyst Weigh In

FHB has been the topic of a number of research reports. StockNews.com upgraded shares of First Hawaiian to a "sell" rating in a research report on Friday, January 19th. Wells Fargo & Company raised their target price on shares of First Hawaiian from $18.00 to $20.00 and gave the stock an "underweight" rating in a research report on Monday, January 29th. Finally, Barclays started coverage on shares of First Hawaiian in a research report on Friday, March 8th. They issued an "equal weight" rating and a $25.00 price objective on the stock. Three analysts have rated the stock with a sell rating and one has given a hold rating to the company's stock. Based on data from MarketBeat.com, First Hawaiian currently has a consensus rating of "Reduce" and a consensus target price of $21.60.

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.