Intech Investment Management LLC Purchases New Position in First Hawaiian, Inc. (NASDAQ:FHB)

Intech Investment Management LLC acquired a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,073 shares of the bank’s stock, valued at approximately $209,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Jones Financial Companies Lllp bought a new position in shares of First Hawaiian during the 4th quarter valued at approximately $36,000. Quarry LP increased its position in First Hawaiian by 459.2% during the third quarter. Quarry LP now owns 2,483 shares of the bank’s stock valued at $57,000 after acquiring an additional 2,039 shares during the last quarter. Blue Trust Inc. raised its stake in shares of First Hawaiian by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank’s stock valued at $71,000 after acquiring an additional 904 shares during the period. Global Retirement Partners LLC lifted its holdings in shares of First Hawaiian by 32.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock worth $74,000 after acquiring an additional 693 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of First Hawaiian by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank’s stock worth $94,000 after purchasing an additional 461 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Keefe, Bruyette & Woods raised their price objective on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Piper Sandler boosted their price objective on First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Stephens started coverage on First Hawaiian in a research note on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 target price on the stock. Barclays boosted their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, First Hawaiian presently has an average rating of “Hold” and an average price target of $29.00.

First Hawaiian Price Performance

NASDAQ:FHB opened at $24.87 on Thursday. The firm has a market cap of $3.14 billion, a PE ratio of 13.89, a price-to-earnings-growth ratio of 3.28 and a beta of 0.94. The company has a 50-day moving average of $26.26 and a 200 day moving average of $25.62. First Hawaiian, Inc. has a 1-year low of $19.48 and a 1-year high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same quarter in the prior year, the firm earned $0.37 EPS. Sell-side analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Friday, February 14th. First Hawaiian’s payout ratio is 58.10%.

First Hawaiian 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.