Callan Family Office LLC Purchases Shares of 156,694 First Hawaiian, Inc. $FHB

Callan Family Office LLC purchased a new stake in First Hawaiian, Inc. (NASDAQ:FHB) in the 2nd quarter, HoldingsChannel reports. The fund purchased 156,694 shares of the bank’s stock, valued at approximately $4,591,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Elevation Wealth Partners LLC lifted its stake in shares of First Hawaiian by 378.5% in the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after acquiring an additional 738 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in First Hawaiian during the 4th quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. increased its position in First Hawaiian by 2,916.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,050 shares during the period. Global Retirement Partners LLC raised its holdings in First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares during the last quarter. Finally, Danske Bank A S bought a new position in First Hawaiian during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FHB. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Hawaiian in a research note on Monday, July 6th. Piper Sandler increased their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Benchmark reissued a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. Wells Fargo & Company boosted their target price on shares of First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, Zacks Research cut shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. 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 stock. Based on data from MarketBeat.com, First Hawaiian presently has an average rating of “Reduce” and an average price target of $30.25.

First Hawaiian Stock Performance

Shares of FHB stock opened at $26.32 on Friday. The company has a market cap of $3.20 billion, a P/E ratio of 11.44, a PEG ratio of 1.68 and a beta of 0.73. The stock has a 50 day simple moving average of $28.47 and a two-hundred day simple moving average of $26.94. First Hawaiian, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $30.58.

First Hawaiian (NASDAQ:FHB) last issued its quarterly 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 firm earned $0.58 earnings per share. On average, research analysts predict that First Hawaiian, Inc. will post 2.34 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be paid a $0.26 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. First Hawaiian’s payout ratio is currently 45.22%.

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.