BlueMountain Capital Management LLC raised its stake in First Hawaiian Inc (NASDAQ:FHB) by 20.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 34,627 shares of the bank’s stock after purchasing an additional 5,956 shares during the quarter. BlueMountain Capital Management LLC’s holdings in First Hawaiian were worth $1,005,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in FHB. San Francisco Sentry Investment Group CA lifted its position in First Hawaiian by 106.4% in the second quarter. San Francisco Sentry Investment Group CA now owns 3,570 shares of the bank’s stock valued at $104,000 after purchasing an additional 1,840 shares during the last quarter. Quantbot Technologies LP bought a new stake in First Hawaiian in the first quarter valued at approximately $120,000. SG Americas Securities LLC bought a new stake in First Hawaiian in the second quarter valued at approximately $175,000. Xact Kapitalforvaltning AB bought a new stake in First Hawaiian in the first quarter valued at approximately $215,000. Finally, State of Alaska Department of Revenue lifted its position in First Hawaiian by 60.2% in the second quarter. State of Alaska Department of Revenue now owns 7,530 shares of the bank’s stock valued at $218,000 after purchasing an additional 2,830 shares during the last quarter. Hedge funds and other institutional investors own 50.03% of the company’s stock.
Several research firms have recently issued reports on FHB. Zacks Investment Research raised First Hawaiian from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Tuesday, June 26th. BidaskClub raised First Hawaiian from a “hold” rating to a “buy” rating in a research note on Tuesday, June 5th. Finally, Bank of America raised First Hawaiian from a “neutral” rating to a “buy” rating and boosted their target price for the company from $34.00 to $35.00 in a research note on Thursday, May 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. First Hawaiian presently has a consensus rating of “Hold” and a consensus target price of $32.88.
In other news, Director Paribas Bnp sold 20,000,000 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $28.70, for a total transaction of $574,000,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.10% of the stock is currently owned by insiders.
FHB opened at $27.54 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.78 and a current ratio of 0.78. First Hawaiian Inc has a 52-week low of $26.92 and a 52-week high of $32.36. The company has a market cap of $3.83 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.45 and a beta of 0.44.
First Hawaiian (NASDAQ:FHB) last posted its earnings results on Thursday, July 26th. The bank reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. First Hawaiian had a return on equity of 10.13% and a net margin of 25.59%. The firm had revenue of $141.40 million for the quarter, compared to analysts’ expectations of $140.18 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year. equities analysts anticipate that First Hawaiian Inc will post 2.04 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Monday, August 27th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, August 24th. This represents a $0.96 annualized dividend and a dividend yield of 3.49%. First Hawaiian’s dividend payout ratio (DPR) is presently 58.18%.
First Hawaiian Profile
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.
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