First Hawaiian, Inc. $FHB Stake Raised by Bessemer Group Inc.

Bessemer Group Inc. boosted its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 41.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 230,841 shares of the bank’s stock after acquiring an additional 67,083 shares during the quarter. Bessemer Group Inc.’s holdings in First Hawaiian were worth $5,688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of FHB. Eurizon Capital SGR S.p.A. acquired a new position in shares of First Hawaiian in the 4th quarter valued at about $26,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of First Hawaiian by 2,916.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after purchasing an additional 1,050 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in shares of First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares during the period. Eagle Bay Advisors LLC acquired a new stake in shares of First Hawaiian during the fourth quarter worth approximately $46,000. Finally, Danske Bank A S purchased a new position in First Hawaiian during the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

Shares of NASDAQ FHB opened at $28.86 on Tuesday. The business has a 50 day simple moving average of $28.19 and a 200 day simple moving average of $26.77. First Hawaiian, Inc. has a 52 week low of $22.65 and a 52 week high of $30.58. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.60 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. The firm had revenue of $220.35 million for 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 last year, the firm earned $0.47 earnings per share. On average, analysts predict that First Hawaiian, Inc. will post 2.38 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, May 18th. This represents a $1.04 annualized dividend and a dividend yield of 3.6%. First Hawaiian’s dividend payout ratio is 45.61%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of First Hawaiian in a research note on Monday, July 6th. TD Cowen lifted their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “hold” rating in a research note on Tuesday, April 28th. Benchmark restated a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Piper Sandler upped their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Wall Street Zen lowered First Hawaiian from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, First Hawaiian presently has an average rating of “Hold” and an average price target of $29.25.

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.