Crossmark Global Holdings Inc. Grows Position in First Hawaiian, Inc. $FHB

Crossmark Global Holdings Inc. raised its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 117.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 56,310 shares of the bank’s stock after acquiring an additional 30,400 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in First Hawaiian were worth $1,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FHB. Farther Finance Advisors LLC lifted its holdings in First Hawaiian by 74.9% during the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock valued at $25,000 after purchasing an additional 438 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in First Hawaiian by 2,916.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after purchasing an additional 1,050 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in First Hawaiian during the fourth quarter valued at about $46,000. Danske Bank A S purchased a new stake in First Hawaiian during the third quarter valued at about $47,000. Finally, CIBC Private Wealth Group LLC purchased a new stake in First Hawaiian during the third quarter valued at about $48,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings raised shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. TD Cowen upped their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “hold” rating in a report on Tuesday, April 28th. Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Saturday. JPMorgan Chase & Co. decreased their price target on First Hawaiian from $29.00 to $25.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 1st. Finally, Piper Sandler upped their price target on First Hawaiian from $25.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $27.56.

First Hawaiian Stock Down 1.3%

Shares of FHB opened at $26.42 on Wednesday. The business’s 50-day moving average price is $25.58 and its 200-day moving average price is $25.70. First Hawaiian, Inc. has a twelve month low of $22.65 and a twelve month high of $28.35. The stock has a market cap of $3.21 billion, a PE ratio of 11.59, a P/E/G ratio of 1.97 and a beta of 0.75.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, April 24th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The firm had revenue of $220.35 million for the quarter, compared to analysts’ expectations of $223.59 million. During the same period in the prior year, the business posted $0.47 earnings per share. Analysts expect that First Hawaiian, Inc. will post 2.33 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Monday, May 18th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, May 18th. This represents a $1.04 annualized dividend and a dividend yield of 3.9%. First Hawaiian’s dividend payout ratio is currently 45.61%.

First Hawaiian Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.