Caprock Group LLC Makes New $579,000 Investment in First Hawaiian, Inc. $FHB

Caprock Group LLC bought a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 22,324 shares of the bank’s stock, valued at approximately $579,000.

A number of other large investors have also recently made changes to their positions in FHB. Rhumbline Advisers raised its holdings in shares of First Hawaiian by 0.3% during the third quarter. Rhumbline Advisers now owns 294,179 shares of the bank’s stock valued at $7,304,000 after purchasing an additional 984 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in First Hawaiian by 101.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 22,540 shares of the bank’s stock worth $560,000 after purchasing an additional 11,370 shares during the period. Smartleaf Asset Management LLC raised its stake in First Hawaiian by 26.7% during the 3rd quarter. Smartleaf Asset Management LLC now owns 4,000 shares of the bank’s stock valued at $100,000 after buying an additional 842 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of First Hawaiian by 5.4% during the 3rd quarter. Savant Capital LLC now owns 27,740 shares of the bank’s stock valued at $689,000 after buying an additional 1,420 shares during the period. Finally, Hantz Financial Services Inc. boosted its stake in shares of First Hawaiian by 230.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 4,537 shares of the bank’s stock worth $113,000 after buying an additional 3,166 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB opened at $26.40 on Wednesday. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 2.08 and a beta of 0.73. The firm has a fifty day moving average price of $26.51 and a 200 day moving average price of $25.40. First Hawaiian, Inc. has a fifty-two week low of $20.32 and a fifty-two week high of $28.35.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, January 30th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The business had revenue of $199.68 million for the quarter, compared to analysts’ expectations of $225.33 million. During the same quarter in the previous year, the company earned $0.41 EPS. As a group, research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 3.9%. First Hawaiian’s dividend payout ratio is presently 47.27%.

Insider Activity at First Hawaiian

In other news, insider Alan Arizumi sold 36,460 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.35, for a total value of $924,261.00. Following the sale, the insider directly owned 37,508 shares in the company, valued at $950,827.80. The trade was a 49.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Craig Scott Wo sold 1,500 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 45,026 shares of company stock valued at $1,144,928 in the last 90 days. 0.61% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on First Hawaiian from $28.00 to $29.00 and gave the company an “underweight” rating in a research report on Monday, February 2nd. Zacks Research lowered shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. TD Cowen reiterated a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. Weiss Ratings restated a “hold (c+)” rating on shares of First Hawaiian in a research report on Monday, December 29th. Finally, Barclays raised shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $26.00 to $28.00 in a report on Tuesday, November 11th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $27.50.

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.