AlphaQuest LLC Increases Stake in First Hawaiian, Inc. $FHB

AlphaQuest LLC lifted its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 7,621.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 168,484 shares of the bank’s stock after purchasing an additional 166,302 shares during the period. AlphaQuest LLC’s holdings in First Hawaiian were worth $4,183,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC purchased a new stake in First Hawaiian during the 2nd quarter valued at $338,000. Capital Fund Management S.A. bought a new position in shares of First Hawaiian during the second quarter valued at about $1,098,000. Nisa Investment Advisors LLC boosted its holdings in shares of First Hawaiian by 840.1% during the third quarter. Nisa Investment Advisors LLC now owns 92,268 shares of the bank’s stock worth $2,291,000 after purchasing an additional 82,453 shares during the period. D.A. Davidson & CO. grew its stake in shares of First Hawaiian by 11.2% in the second quarter. D.A. Davidson & CO. now owns 15,104 shares of the bank’s stock worth $375,000 after purchasing an additional 1,519 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in First Hawaiian by 11.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,325,860 shares of the bank’s stock valued at $33,093,000 after purchasing an additional 135,809 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Insider Transactions at First Hawaiian

In other First Hawaiian news, insider Alan Arizumi sold 6,566 shares of First Hawaiian stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.34, for a total value of $166,382.44. Following the completion of the sale, the insider owned 1,962 shares of the company’s stock, valued at approximately $49,717.08. The trade was a 76.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

First Hawaiian Stock Up 2.1%

Shares of NASDAQ FHB opened at $27.57 on Friday. First Hawaiian, Inc. has a twelve month low of $20.32 and a twelve month high of $28.35. The company has a 50 day moving average of $26.11 and a 200 day moving average of $25.26. The firm has a market cap of $3.41 billion, a P/E ratio of 13.45, a PEG ratio of 1.90 and a beta of 0.73.

Analyst Upgrades and Downgrades

FHB has been the subject of several research analyst reports. The Goldman Sachs Group set a $27.50 price objective on First Hawaiian and gave the stock a “sell” rating in a report on Tuesday, January 6th. Zacks Research cut shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. JPMorgan Chase & Co. upped their price objective on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Hawaiian in a research note on Monday, December 29th. Finally, Barclays raised shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $26.00 to $28.00 in a research note on Tuesday, November 11th. Six investment analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, First Hawaiian currently has an average rating of “Reduce” and an average price target of $27.64.

About First Hawaiian

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.