Y Intercept Hong Kong Ltd Buys 226,747 Shares of First Hawaiian, Inc. $FHB

Y Intercept Hong Kong Ltd increased its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 122.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 411,419 shares of the bank’s stock after purchasing an additional 226,747 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in First Hawaiian were worth $10,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FHB. Vanguard Group Inc. raised its stake in shares of First Hawaiian by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock valued at $365,777,000 after purchasing an additional 358,632 shares during the period. Dimensional Fund Advisors LP boosted its stake in First Hawaiian by 3.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,380,268 shares of the bank’s stock worth $161,423,000 after purchasing an additional 221,492 shares during the period. State Street Corp boosted its stake in First Hawaiian by 1.3% in the 2nd quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock worth $146,845,000 after purchasing an additional 77,478 shares during the period. AQR Capital Management LLC grew its holdings in First Hawaiian by 68.6% during the 4th quarter. AQR Capital Management LLC now owns 3,720,826 shares of the bank’s stock valued at $94,137,000 after buying an additional 1,514,465 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in First Hawaiian by 131.9% during the 3rd quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock valued at $71,800,000 after buying an additional 1,644,752 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FHB shares. JPMorgan Chase & Co. upped their price target on First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research report on Wednesday. Weiss Ratings raised shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Piper Sandler upped their target price on shares of First Hawaiian from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. TD Cowen upped their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen cut shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, First Hawaiian presently has an average rating of “Reduce” and an average target price of $28.31.

First Hawaiian Stock Down 0.8%

First Hawaiian stock opened at $29.97 on Friday. First Hawaiian, Inc. has a 52 week low of $22.65 and a 52 week high of $30.56. The business has a 50-day simple moving average of $27.61 and a 200 day simple moving average of $26.48. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 2.22 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The business had revenue of $220.35 million for the quarter, compared to analyst estimates of $223.59 million. During the same period in the prior year, the company earned $0.47 EPS. On average, research analysts anticipate that First Hawaiian, Inc. will post 2.33 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, May 18th. First Hawaiian’s dividend payout ratio is 45.61%.

First Hawaiian 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.