Public Employees Retirement System of Ohio Makes New Investment in First Hawaiian, Inc. $FHB

Public Employees Retirement System of Ohio bought a new stake in First Hawaiian, Inc. (NASDAQ:FHB) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 36,979 shares of the bank’s stock, valued at approximately $1,083,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of First Hawaiian in the 2nd quarter worth about $483,971,000. Ieq Capital LLC acquired a new position in First Hawaiian during the 2nd quarter valued at about $2,653,000. Quantinno Capital Management LP boosted its stake in First Hawaiian by 60.3% during the 1st quarter. Quantinno Capital Management LP now owns 1,798,815 shares of the bank’s stock valued at $44,323,000 after purchasing an additional 676,433 shares during the period. California State Teachers Retirement System grew its position in First Hawaiian by 37.7% in the 1st quarter. California State Teachers Retirement System now owns 162,320 shares of the bank’s stock worth $4,000,000 after purchasing an additional 44,423 shares during the last quarter. Finally, Bank of America Corp DE grew its position in First Hawaiian by 36.6% in the 1st quarter. Bank of America Corp DE now owns 1,086,157 shares of the bank’s stock worth $26,763,000 after purchasing an additional 291,271 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FHB. Barclays lifted their price target on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Piper Sandler increased their price objective on First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research note on Wednesday, July 1st. Finally, The Goldman Sachs Group boosted their price target on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, First Hawaiian has an average rating of “Reduce” and an average target price of $30.25.

First Hawaiian Trading Down 1.0%

Shares of First Hawaiian stock opened at $25.81 on Wednesday. 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 $3.14 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.64 and a beta of 0.72. The company’s 50-day moving average price is $27.80 and its two-hundred day moving average price is $26.88.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The company had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. During the same quarter in the prior year, the firm earned $0.58 EPS. On average, equities analysts predict that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, August 17th. First Hawaiian’s dividend payout ratio (DPR) is 45.22%.

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.