Cadinha & Co. LLC Raises Position in First Hawaiian Inc (FHB)
Cadinha & Co. LLC increased its stake in shares of First Hawaiian Inc (NYSE:FHB) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,310 shares of the bank’s stock after buying an additional 600 shares during the period. Cadinha & Co. LLC’s holdings in First Hawaiian were worth $346,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in FHB. Vanguard Group Inc. raised its stake in shares of First Hawaiian by 149.2% in the first quarter. Vanguard Group Inc. now owns 3,908,897 shares of the bank’s stock valued at $116,954,000 after buying an additional 2,340,324 shares during the period. Wellington Management Group LLP raised its stake in shares of First Hawaiian by 459.1% in the first quarter. Wellington Management Group LLP now owns 3,546,109 shares of the bank’s stock valued at $106,100,000 after buying an additional 2,911,800 shares during the period. JPMorgan Chase & Co. raised its stake in shares of First Hawaiian by 49.1% in the first quarter. JPMorgan Chase & Co. now owns 3,050,091 shares of the bank’s stock valued at $91,258,000 after buying an additional 1,004,303 shares during the period. Neuberger Berman Group LLC raised its stake in shares of First Hawaiian by 212.8% in the first quarter. Neuberger Berman Group LLC now owns 2,931,859 shares of the bank’s stock valued at $87,721,000 after buying an additional 1,994,659 shares during the period. Finally, Victory Capital Management Inc. raised its stake in shares of First Hawaiian by 32.5% in the first quarter. Victory Capital Management Inc. now owns 1,943,201 shares of the bank’s stock valued at $58,141,000 after buying an additional 477,092 shares during the period.
Shares of First Hawaiian Inc (NYSE FHB) opened at 28.89 on Thursday. First Hawaiian Inc has a 12-month low of $24.38 and a 12-month high of $35.47. The firm’s 50-day moving average is $29.78 and its 200-day moving average is $30.19. The company has a market capitalization of $4.03 billion and a price-to-earnings ratio of 18.06.
First Hawaiian (NYSE:FHB) last announced its earnings results on Thursday, July 27th. The bank reported $0.41 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.41. First Hawaiian had a net margin of 31.74% and a return on equity of 9.14%. The firm had revenue of $131.30 million for the quarter, compared to analysts’ expectations of $134.58 million. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities analysts predict that First Hawaiian Inc will post $1.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Monday, August 28th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date is Thursday, August 24th.
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FHB has been the topic of several research reports. UBS AG reaffirmed a “neutral” rating and set a $29.00 price target (down from $30.00) on shares of First Hawaiian in a report on Monday, July 31st. Zacks Investment Research lowered shares of First Hawaiian from a “buy” rating to a “hold” rating in a report on Monday, July 17th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $33.00 target price on shares of First Hawaiian in a report on Friday, May 12th. Finally, Bank of America Corporation reissued a “neutral” rating and set a $34.00 target price (down from $37.00) on shares of First Hawaiian in a report on Thursday, June 22nd. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company. First Hawaiian presently has a consensus rating of “Hold” and an average target price of $30.86.
About First Hawaiian
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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