SummerHaven Investment Management LLC Purchases 616 Shares of First Hawaiian, Inc. $FHB

SummerHaven Investment Management LLC grew its position in First Hawaiian, Inc. (NASDAQ:FHB) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,109 shares of the bank’s stock after acquiring an additional 616 shares during the period. SummerHaven Investment Management LLC’s holdings in First Hawaiian were worth $926,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of FHB. Caitong International Asset Management Co. Ltd raised its stake in shares of First Hawaiian by 199.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank’s stock valued at $26,000 after acquiring an additional 705 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of First Hawaiian in the first quarter valued at approximately $44,000. Versant Capital Management Inc raised its stake in shares of First Hawaiian by 65.1% in the first quarter. Versant Capital Management Inc now owns 3,128 shares of the bank’s stock valued at $76,000 after acquiring an additional 1,233 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of First Hawaiian by 26.0% in the first quarter. Parallel Advisors LLC now owns 4,462 shares of the bank’s stock valued at $109,000 after purchasing an additional 920 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of First Hawaiian by 36.4% in the first quarter. GAMMA Investing LLC now owns 4,943 shares of the bank’s stock valued at $121,000 after purchasing an additional 1,319 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on FHB shares. Barclays reissued an “underweight” rating on shares of First Hawaiian in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price target on shares of First Hawaiian from $25.00 to $25.50 and gave the company an “underweight” rating in a report on Tuesday, July 1st. Cowen started coverage on shares of First Hawaiian in a report on Wednesday. They issued a “hold” rating for the company. Piper Sandler started coverage on shares of First Hawaiian in a report on Thursday, August 21st. They issued a “neutral” rating and a $26.00 price target for the company. Finally, Wells Fargo & Company raised their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Thursday, July 10th. Five investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $27.06.

First Hawaiian Stock Performance

FHB opened at $25.17 on Monday. The company has a fifty day moving average price of $25.11 and a two-hundred day moving average price of $24.34. First Hawaiian, Inc. has a 52 week low of $20.32 and a 52 week high of $28.80. The firm has a market capitalization of $3.14 billion, a PE ratio of 12.97, a P/E/G ratio of 6.09 and a beta of 0.89.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, July 25th. The bank reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. The firm had revenue of $217.54 million during the quarter, compared to analyst estimates of $214.67 million. During the same quarter in the previous year, the business earned $0.48 EPS. Equities analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.1%. First Hawaiian’s payout ratio is 53.61%.

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.