Hsbc Holdings PLC Takes $1.61 Million Position in First Hawaiian, Inc. $FHB

Hsbc Holdings PLC bought a new stake in First Hawaiian, Inc. (NASDAQ:FHB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 55,141 shares of the bank’s stock, valued at approximately $1,611,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund raised its holdings in First Hawaiian by 0.6% in the 1st quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock valued at $1,602,000 after acquiring an additional 397 shares in the last quarter. Evolve Private Wealth LLC lifted its position in shares of First Hawaiian by 1.6% in the 1st quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock worth $643,000 after acquiring an additional 406 shares during the period. Parallel Advisors LLC grew its holdings in shares of First Hawaiian by 11.3% during the 1st quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock worth $127,000 after purchasing an additional 525 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after purchasing an additional 534 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of First Hawaiian by 0.4% during the fourth quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock valued at $3,540,000 after purchasing an additional 568 shares during the period. 97.63% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on FHB shares. Wells Fargo & Company upped their target price on First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. boosted their price target on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. TD Cowen dropped their price objective on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday, July 29th. Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Benchmark reiterated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $30.25.

First Hawaiian Stock Performance

Shares of FHB opened at $25.79 on Monday. The stock has a market cap of $3.14 billion, a PE ratio of 11.21, a PEG ratio of 1.63 and a beta of 0.73. First Hawaiian, Inc. has a 1 year low of $22.65 and a 1 year high of $30.58. The stock has a 50 day simple moving average of $28.26 and a 200-day simple moving average of $26.91.

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

First Hawaiian Announces Dividend

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

First Hawaiian Company 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.