48,137 Shares in First Hawaiian, Inc. $FHB Bought by AXQ Capital LP

AXQ Capital LP acquired a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 48,137 shares of the bank’s stock, valued at approximately $1,218,000.

Several other hedge funds and other institutional investors have also modified their holdings of FHB. Royal Bank of Canada raised its holdings in shares of First Hawaiian by 8.6% during the first quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock worth $4,041,000 after acquiring an additional 13,071 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of First Hawaiian by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock worth $246,000 after acquiring an additional 856 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of First Hawaiian during the first quarter worth $201,000. Empowered Funds LLC raised its holdings in shares of First Hawaiian by 10.4% during the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after acquiring an additional 1,542 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of First Hawaiian by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock worth $10,389,000 after acquiring an additional 31,686 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FHB has been the topic of several analyst reports. JPMorgan Chase & Co. lowered their target price on shares of First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. Weiss Ratings raised 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 target price on shares of First Hawaiian from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, TD Cowen increased their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, First Hawaiian presently has an average rating of “Reduce” and an average price target of $27.56.

First Hawaiian Stock Performance

NASDAQ FHB opened at $26.59 on Tuesday. First Hawaiian, Inc. has a twelve month low of $22.65 and a twelve month high of $28.35. The stock has a market capitalization of $3.23 billion, a PE ratio of 11.66, a P/E/G ratio of 1.99 and a beta of 0.75. The stock has a 50-day simple moving average of $26.31 and a 200 day simple moving average of $25.93.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The business had revenue of $220.35 million during the quarter, compared to analysts’ expectations of $223.59 million. During the same quarter in the previous year, the firm earned $0.47 EPS. As a group, equities research analysts forecast that First Hawaiian, Inc. will post 2.33 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a yield of 3.9%. First Hawaiian’s dividend payout ratio (DPR) is 45.61%.

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.