VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.78 Million in First Hawaiian, Inc. $FHB

by · The Markets Daily

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in First Hawaiian, Inc. (NASDAQ:FHB – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 60,800 shares of the bank’s stock, valued at approximately $1,781,000.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada raised its position in First Hawaiian by 8.6% in the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock valued at $4,041,000 after buying an additional 13,071 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in First Hawaiian by 9.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock worth $246,000 after acquiring an additional 856 shares during the last quarter. United Services Automobile Association purchased a new position in First Hawaiian during the 1st quarter worth $201,000. Empowered Funds LLC grew its stake in shares of First Hawaiian by 10.4% in the 1st quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after acquiring an additional 1,542 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of First Hawaiian by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock worth $10,389,000 after acquiring an additional 31,686 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on FHB. Weiss Ratings reissued a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. The Goldman Sachs Group increased their price target on First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, July 7th. Piper Sandler boosted their price target on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Zacks Research lowered shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Finally, Barclays raised their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 7th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $30.25.

Check Out Our Latest Report on First Hawaiian

First Hawaiian Trading Up 0.3%

Shares of NASDAQ FHB opened at $25.75 on Friday. The stock has a fifty day simple moving average of $27.54 and a two-hundred day simple moving average of $26.86. First Hawaiian, Inc. has a 1-year low of $22.65 and a 1-year high of $30.58. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB – Get Free Report) last issued its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $231.27 million for the quarter, compared to analyst estimates of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same period in the previous year, the company posted $0.58 earnings per share. Analysts forecast that First Hawaiian, Inc. will post 2.34 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 annualized dividend and a yield of 4.0%. First Hawaiian’s dividend payout ratio is 45.22%.

About First Hawaiian

(Free Report)

First Hawaiian, Inc (NASDAQ: FHB) is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.

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