Reinhart Partners LLC. Increases Position in First Hawaiian, Inc. $FHB

Reinhart Partners LLC. grew its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 0.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,660,876 shares of the bank’s stock after buying an additional 18,977 shares during the quarter. Reinhart Partners LLC.’s holdings in First Hawaiian were worth $77,964,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FHB. Norges Bank bought a new stake in shares of First Hawaiian during the 4th quarter worth approximately $40,281,000. AQR Capital Management LLC increased its stake in First Hawaiian by 230.8% in the third quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank’s stock worth $54,784,000 after purchasing an additional 1,539,415 shares during the period. UBS Group AG increased its stake in First Hawaiian by 176.0% in the fourth quarter. UBS Group AG now owns 1,128,002 shares of the bank’s stock worth $28,538,000 after purchasing an additional 719,312 shares during the period. Quantinno Capital Management LP lifted its position in shares of First Hawaiian by 60.3% during the first quarter. Quantinno Capital Management LP now owns 1,798,815 shares of the bank’s stock worth $44,323,000 after purchasing an additional 676,433 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of First Hawaiian by 96.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,096,002 shares of the bank’s stock worth $27,729,000 after purchasing an additional 537,841 shares during the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a report on Tuesday, July 7th. Zacks Research raised shares of First Hawaiian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Sunday, August 2nd. TD Cowen reduced their target price on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Wednesday, July 29th. Finally, Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, First Hawaiian has a consensus rating of “Hold” and an average price target of $30.25.

First Hawaiian Price Performance

FHB stock opened at $27.49 on Friday. The business has a 50-day moving average price of $28.53 and a 200 day moving average price of $26.94. The company has a market capitalization of $3.34 billion, a P/E ratio of 11.95, a PEG ratio of 1.74 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.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $231.27 million for the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same period in the prior year, the business earned $0.58 EPS. On average, analysts anticipate that First Hawaiian, Inc. will post 2.34 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.8%. First Hawaiian’s dividend payout ratio (DPR) is currently 45.22%.

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.