Y Intercept Hong Kong Ltd Makes New Investment in First Hawaiian, Inc. $FHB

Y Intercept Hong Kong Ltd bought a new stake in First Hawaiian, Inc. (NASDAQ:FHB) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,523 shares of the bank’s stock, valued at approximately $263,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Caitong International Asset Management Co. Ltd increased its position in First Hawaiian by 199.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank’s stock worth $26,000 after acquiring an additional 705 shares during the period. Headlands Technologies LLC bought a new stake in First Hawaiian in the 1st quarter valued at about $44,000. Kestra Investment Management LLC bought a new stake in First Hawaiian in the 1st quarter valued at about $134,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in shares of First Hawaiian during the 2nd quarter worth approximately $154,000. Finally, Zions Bancorporation National Association UT bought a new position in shares of First Hawaiian during the first quarter worth approximately $161,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Performance

First Hawaiian stock opened at $24.79 on Friday. First Hawaiian, Inc. has a 52 week low of $20.32 and a 52 week high of $28.80. The stock has a market capitalization of $3.07 billion, a P/E ratio of 12.09, a price-to-earnings-growth ratio of 3.53 and a beta of 0.91. The stock has a fifty day moving average of $24.82 and a 200-day moving average of $24.57.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Monday, August 9th. The bank reported $0.44 earnings per share (EPS) for the quarter. The firm had revenue of $129.16 million for the quarter. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%. On average, research analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, November 17th. First Hawaiian’s dividend payout ratio is currently 50.73%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FHB. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings cut First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Piper Sandler upped their target price on First Hawaiian from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. TD Cowen began coverage on First Hawaiian in a research report on Thursday, September 25th. They issued a “hold” rating and a $27.00 price target on the stock. Finally, Barclays boosted their price target on First Hawaiian from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $27.50.

First Hawaiian Company Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.