State of Wyoming Buys New Shares in First Hawaiian, Inc. $FHB

State of Wyoming bought a new position in First Hawaiian, Inc. (NASDAQ:FHB) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 24,041 shares of the bank’s stock, valued at approximately $704,000.

A number of other institutional investors have also bought and sold shares of FHB. Oppenheimer Asset Management Inc. bought a new stake in First Hawaiian during the second quarter valued at about $552,000. Hennion & Walsh Asset Management Inc. purchased a new position in shares of First Hawaiian in the second quarter valued at about $220,000. Reinhart Partners LLC. boosted its stake in shares of First Hawaiian by 0.7% in the second quarter. Reinhart Partners LLC. now owns 2,660,876 shares of the bank’s stock worth $77,964,000 after acquiring an additional 18,977 shares during the period. Elevation Wealth Partners LLC boosted its stake in shares of First Hawaiian by 378.5% in the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after acquiring an additional 738 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of First Hawaiian by 14.6% during the second quarter. GAMMA Investing LLC now owns 7,021 shares of the bank’s stock worth $206,000 after purchasing an additional 897 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Price Performance

Shares of First Hawaiian stock opened at $27.66 on Monday. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.74 and a beta of 0.73. The business has a 50-day moving average price of $28.59 and a 200-day moving average price of $26.95. First Hawaiian, Inc. has a twelve month low of $22.65 and a twelve month high of $30.58.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $231.27 million for the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same period in the previous year, the firm posted $0.58 earnings per share. On average, equities analysts expect that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 17th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 3.8%. First Hawaiian’s payout ratio is presently 45.22%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of First Hawaiian in a research note on Monday, July 6th. Wall Street Zen downgraded First Hawaiian from a “hold” rating to a “sell” rating in a research note on Sunday, August 2nd. Barclays increased their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. Finally, TD Cowen lowered their target price on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Wednesday, July 29th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $30.25.

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.