Verition Fund Management LLC Purchases 12,254 Shares of First Hawaiian Inc (FHB)
Verition Fund Management LLC increased its position in shares of First Hawaiian Inc (NASDAQ:FHB) by 113.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,026 shares of the bank’s stock after buying an additional 12,254 shares during the period. Verition Fund Management LLC’s holdings in First Hawaiian were worth $668,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in FHB. Prudential Financial Inc. boosted its holdings in First Hawaiian by 1,107.9% in the first quarter. Prudential Financial Inc. now owns 83,950 shares of the bank’s stock valued at $2,336,000 after purchasing an additional 77,000 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in First Hawaiian by 35.1% in the first quarter. State Board of Administration of Florida Retirement System now owns 10,579 shares of the bank’s stock valued at $294,000 after purchasing an additional 2,749 shares in the last quarter. Swiss National Bank boosted its holdings in First Hawaiian by 3.5% in the first quarter. Swiss National Bank now owns 97,167 shares of the bank’s stock valued at $2,704,000 after purchasing an additional 3,300 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in First Hawaiian by 9.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 262,380 shares of the bank’s stock valued at $7,303,000 after purchasing an additional 23,645 shares in the last quarter. Finally, Aperio Group LLC boosted its holdings in First Hawaiian by 153.5% in the first quarter. Aperio Group LLC now owns 20,985 shares of the bank’s stock valued at $584,000 after purchasing an additional 12,708 shares in the last quarter. Hedge funds and other institutional investors own 50.68% of the company’s stock.
A number of equities analysts recently issued reports on FHB shares. BidaskClub raised First Hawaiian from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Bank of America raised First Hawaiian from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $35.00 in a report on Thursday, May 31st. Finally, Zacks Investment Research raised First Hawaiian from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Tuesday, June 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $32.50.
FHB stock opened at $27.55 on Thursday. The company has a market capitalization of $3.76 billion, a PE ratio of 15.23, a PEG ratio of 1.43 and a beta of 0.44. First Hawaiian Inc has a twelve month low of $26.92 and a twelve month high of $32.36. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78.
First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Thursday, July 26th. The bank reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The business had revenue of $141.40 million during the quarter, compared to the consensus estimate of $140.18 million. First Hawaiian had a return on equity of 10.13% and a net margin of 25.59%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 earnings per share. sell-side analysts predict that First Hawaiian Inc will post 2.04 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 7th. Stockholders of record on Monday, August 27th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend was Friday, August 24th. First Hawaiian’s payout ratio is currently 58.18%.
About First Hawaiian
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.
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