Northern Trust Corp Acquires 211,399 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Northern Trust Corp increased its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,188,005 shares of the bank's stock after purchasing an additional 211,399 shares during the quarter. Northern Trust Corp owned approximately 1.71% of First Hawaiian worth $56,779,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FHB. Jones Financial Companies Lllp purchased a new position in shares of First Hawaiian during the 4th quarter valued at $36,000. Blue Trust Inc. lifted its position in shares of First Hawaiian by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank's stock valued at $71,000 after acquiring an additional 904 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of First Hawaiian by 32.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank's stock worth $74,000 after acquiring an additional 693 shares during the period. GAMMA Investing LLC grew its position 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 worth $94,000 after purchasing an additional 461 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in First Hawaiian by 280.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank's stock valued at $103,000 after purchasing an additional 2,934 shares during the period. Institutional investors own 97.63% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FHB shares. Keefe, Bruyette & Woods cut their price objective on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Barclays reduced their price target on shares of First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. dropped their price objective on shares of First Hawaiian from $26.00 to $25.00 and set an "underweight" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group raised their price target on First Hawaiian from $26.00 to $29.00 and gave the company a "sell" rating in a report on Monday, February 3rd. Finally, Piper Sandler raised their price target on First Hawaiian from $28.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $27.29.

First Hawaiian Stock Down 0.4 %

Shares of First Hawaiian stock opened at $22.94 on Thursday. First Hawaiian, Inc. has a 52 week low of $19.48 and a 52 week high of $28.80. The company has a market capitalization of $2.89 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82. The stock's fifty day moving average is $23.61 and its two-hundred day moving average is $25.49.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $211.00 million for the quarter, compared to the consensus estimate of $210.24 million. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. The firm's revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. As a group, research analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.04 annualized dividend and a yield of 4.53%. First Hawaiian's dividend payout ratio (DPR) is currently 56.52%.

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.

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