NewEdge Wealth LLC Purchases Shares of 83,192 First Hawaiian, Inc. $FHB

NewEdge Wealth LLC purchased a new position in First Hawaiian, Inc. (NASDAQ:FHB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 83,192 shares of the bank’s stock, valued at approximately $2,438,000.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of First Hawaiian in the second quarter worth $483,971,000. Norges Bank bought a new position in First Hawaiian in the 4th quarter worth about $40,281,000. AQR Capital Management LLC increased its stake in First Hawaiian by 230.8% in the 3rd quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank’s stock worth $54,784,000 after acquiring an additional 1,539,415 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of First Hawaiian in the 2nd quarter valued at about $32,977,000. Finally, UBS Group AG raised its holdings in shares of First Hawaiian by 176.0% in the 4th quarter. UBS Group AG now owns 1,128,002 shares of the bank’s stock valued at $28,538,000 after acquiring an additional 719,312 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Trading Down 0.6%

Shares of First Hawaiian stock opened at $26.61 on Friday. The firm has a market capitalization of $3.24 billion, a PE ratio of 11.57, a price-to-earnings-growth ratio of 1.69 and a beta of 0.73. First Hawaiian, Inc. has a 12 month low of $22.65 and a 12 month high of $30.58. The business’s 50-day moving average price is $28.52 and its 200-day moving average price is $26.95.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same quarter in the previous year, the company posted $0.58 EPS. As a group, analysts predict that First Hawaiian, Inc. will post 2.34 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, August 17th. First Hawaiian’s payout ratio is presently 45.22%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FHB. Barclays lifted their price target on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Sunday, August 2nd. JPMorgan Chase & Co. boosted their price target on shares of First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Stephens raised shares of First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target on the stock in a report on Thursday, August 6th. Finally, TD Cowen lowered their price objective on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, First Hawaiian presently has an average rating of “Reduce” and an average target price of $30.25.

First Hawaiian Company 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.