Crawford Investment Counsel Inc. Boosts Stock Position in First Hawaiian, Inc. $FHB

Crawford Investment Counsel Inc. boosted its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 129.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 665,047 shares of the bank’s stock after purchasing an additional 375,735 shares during the quarter. Crawford Investment Counsel Inc. owned approximately 0.54% of First Hawaiian worth $16,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in First Hawaiian by 9.4% during the 4th quarter. GAMMA Investing LLC now owns 5,626 shares of the bank’s stock worth $142,000 after purchasing an additional 485 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after acquiring an additional 534 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of First Hawaiian by 5.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,941 shares of the bank’s stock worth $272,000 after acquiring an additional 567 shares in the last quarter. Royal Bank of Canada grew its position in shares of First Hawaiian by 0.4% in the 4th quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock worth $3,540,000 after acquiring an additional 568 shares in the last quarter. Finally, Natixis Advisors LLC grew its position in shares of First Hawaiian by 3.2% in the 3rd quarter. Natixis Advisors LLC now owns 21,339 shares of the bank’s stock worth $530,000 after acquiring an additional 656 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FHB has been the subject of several research reports. JPMorgan Chase & Co. decreased their target price on First Hawaiian from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, April 1st. Weiss Ratings upgraded First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. TD Cowen lifted their target price on First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Tuesday, April 28th. Wells Fargo & Company lifted their target price on First Hawaiian from $24.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, March 30th. Finally, Wall Street Zen lowered First Hawaiian from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One investment 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. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $27.56.

First Hawaiian Price Performance

NASDAQ:FHB opened at $28.33 on Wednesday. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $29.03. The firm has a market capitalization of $3.45 billion, a P/E ratio of 12.43, a P/E/G ratio of 2.08 and a beta of 0.74. The business has a 50 day simple moving average of $27.01 and a 200 day simple moving average of $26.18.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The business had revenue of $220.35 million during the quarter, compared to analyst estimates of $223.59 million. During the same quarter in the previous year, the firm posted $0.47 EPS. Research analysts anticipate that First Hawaiian, Inc. will post 2.33 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were given a dividend of $0.26 per share. The ex-dividend date was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a yield of 3.7%. First Hawaiian’s payout ratio is currently 45.61%.

First Hawaiian Company 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.