Y Intercept Hong Kong Ltd purchased a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,288 shares of the bank's stock, valued at approximately $632,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Whittier Trust Co. increased its stake in shares of First Hawaiian by 68.7% during the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank's stock worth $26,000 after buying an additional 507 shares during the period. Blue Trust Inc. increased its stake in shares of First Hawaiian by 51.5% during the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank's stock worth $43,000 after buying an additional 625 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of First Hawaiian during the third quarter worth approximately $51,000. Abich Financial Wealth Management LLC increased its stake in shares of First Hawaiian by 32.5% during the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank's stock worth $55,000 after buying an additional 644 shares during the period. Finally, Quarry LP increased its stake in shares of First Hawaiian by 459.2% during the third quarter. Quarry LP now owns 2,483 shares of the bank's stock worth $57,000 after buying an additional 2,039 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.
FHB has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of First Hawaiian from $24.00 to $23.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 9th. Stephens started coverage on shares of First Hawaiian in a research note on Wednesday, November 27th. They set an "equal weight" rating and a $30.00 target price on the stock. Wells Fargo & Company upped their price target on First Hawaiian from $21.00 to $22.00 and gave the company an "underweight" rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their price target on First Hawaiian from $25.00 to $28.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Finally, Barclays upped their price target on First Hawaiian from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $26.14.
Check Out Our Latest Report on First Hawaiian
Shares of FHB opened at $27.06 on Friday. The stock has a 50 day moving average price of $25.95 and a 200 day moving average price of $23.69. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 15.46 and a beta of 0.98. First Hawaiian, Inc. has a 52-week low of $19.48 and a 52-week high of $28.80.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Monday, November 18th. First Hawaiian's payout ratio is currently 59.43%.
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.
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