VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $979,000 Investment in First Hawaiian, Inc. $FHB

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,700 shares of the bank’s stock, valued at approximately $979,000.

Several other hedge funds have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its holdings in First Hawaiian by 2,916.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after acquiring an additional 1,050 shares during the period. Eagle Bay Advisors LLC acquired a new stake in First Hawaiian in the fourth quarter valued at $46,000. Danske Bank A S acquired a new stake in First Hawaiian in the third quarter valued at $47,000. CIBC Private Wealth Group LLC purchased a new stake in shares of First Hawaiian during the 3rd quarter worth $48,000. Finally, Allworth Financial LP boosted its holdings in First Hawaiian by 155.8% during the third quarter. Allworth Financial LP now owns 2,072 shares of the bank’s stock worth $51,000 after buying an additional 1,262 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

First Hawaiian Price Performance

Shares of FHB stock opened at $26.41 on Friday. The firm’s 50-day simple moving average is $25.65 and its 200-day simple moving average is $25.74. First Hawaiian, Inc. has a 1-year low of $22.65 and a 1-year high of $28.35. The firm has a market cap of $3.21 billion, a P/E ratio of 11.58, a PEG ratio of 1.94 and a beta of 0.75.

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

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Monday, May 18th. First Hawaiian’s dividend payout ratio is presently 45.61%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FHB shares. Weiss Ratings upgraded shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Piper Sandler increased their price objective on shares of First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Wells Fargo & Company raised their target price on shares of First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, March 30th. TD Cowen upped their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “hold” rating in a report on Tuesday, April 28th. Finally, Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $27.56.

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.