Reinhart Partners LLC. Has $56.85 Million Stock Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Reinhart Partners LLC. lifted its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 15.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,325,881 shares of the bank’s stock after buying an additional 305,439 shares during the period. First Hawaiian comprises 2.1% of Reinhart Partners LLC.’s holdings, making the stock its 23rd largest position. Reinhart Partners LLC. owned approximately 1.84% of First Hawaiian worth $56,845,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in shares of First Hawaiian during the 4th quarter worth about $36,000. Blue Trust Inc. raised its holdings in shares of First Hawaiian by 49.2% in the 4th quarter. Blue Trust Inc. now owns 2,742 shares of the bank’s stock valued at $71,000 after purchasing an additional 904 shares during the period. Global Retirement Partners LLC raised 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 valued at $74,000 after purchasing an additional 693 shares during the period. Versant Capital Management Inc raised its holdings in shares of First Hawaiian by 65.1% in the 1st quarter. Versant Capital Management Inc now owns 3,128 shares of the bank’s stock valued at $76,000 after purchasing an additional 1,233 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in shares of First Hawaiian by 280.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank’s stock valued at $103,000 after purchasing an additional 2,934 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Up 2.2%

Shares of NASDAQ:FHB opened at $24.14 on Friday. The company’s 50 day moving average price is $23.17 and its two-hundred day moving average price is $25.20. First Hawaiian, Inc. has a 12-month low of $19.48 and a 12-month high of $28.80. The firm has a market cap of $3.03 billion, a PE ratio of 13.49, a PEG ratio of 3.28 and a beta of 0.82.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $211.00 million for the quarter, compared to analyst estimates of $210.24 million. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. On average, research analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.31%. First Hawaiian’s dividend payout ratio is 56.52%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FHB shares. Keefe, Bruyette & Woods dropped their target price on shares of First Hawaiian from $30.00 to $28.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Barclays lowered their price target on shares of First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company decreased their target price on shares of First Hawaiian from $24.00 to $22.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. decreased their target price on shares of First Hawaiian from $26.00 to $25.00 and set an “underweight” rating on the stock in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $27.29.

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.