Norges Bank Takes Position in First Hawaiian, Inc. $FHB

Norges Bank acquired a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the fourth quarter, HoldingsChannel reports. The fund acquired 1,592,131 shares of the bank’s stock, valued at approximately $40,281,000.

A number of other large investors have also recently made changes to their positions in FHB. SG Americas Securities LLC increased its stake in shares of First Hawaiian by 409.2% in the fourth quarter. SG Americas Securities LLC now owns 89,506 shares of the bank’s stock worth $2,265,000 after purchasing an additional 71,927 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its stake in shares of First Hawaiian by 94.2% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 51,139 shares of the bank’s stock valued at $1,270,000 after buying an additional 24,805 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of First Hawaiian during the 4th quarter valued at $1,243,000. Vanguard Group Inc. lifted 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 buying an additional 358,632 shares in the last quarter. Finally, Ruffer LLP purchased a new position in shares of First Hawaiian during the 4th quarter valued at $3,028,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on FHB. Wells Fargo & Company raised their price target on First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, March 30th. Stephens set a $28.00 price target on First Hawaiian in a report on Monday, April 27th. Wall Street Zen cut First Hawaiian from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings raised First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Finally, JPMorgan Chase & Co. lowered their price target on First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a report on Wednesday, April 1st. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $27.56.

First Hawaiian Stock Up 0.7%

Shares of FHB stock opened at $27.54 on Tuesday. The stock has a market cap of $3.35 billion, a P/E ratio of 12.08, a PEG ratio of 2.01 and a beta of 0.74. First Hawaiian, Inc. has a 52 week low of $22.65 and a 52 week high of $28.35. The company’s fifty day simple moving average is $26.59 and its two-hundred day simple moving average is $26.03.

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

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend 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.