Evolve Private Wealth LLC Makes New Investment in First Hawaiian, Inc. $FHB

Evolve Private Wealth LLC acquired a new stake in First Hawaiian, Inc. (NASDAQ:FHB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm acquired 28,189 shares of the bank’s stock, valued at approximately $826,000.

Other hedge funds have also recently modified their holdings of the company. Elevation Wealth Partners LLC boosted its stake in shares of First Hawaiian by 378.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after buying an additional 738 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new position in shares of First Hawaiian in the fourth quarter valued at approximately $26,000. Northwestern Mutual Wealth Management Co. increased its position in shares of 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 acquiring an additional 1,050 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after acquiring an additional 534 shares during the period. Finally, Danske Bank A S bought a new stake in First Hawaiian during the third quarter worth $47,000. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Price Performance

FHB opened at $26.32 on Monday. The company has a market capitalization of $3.20 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 1.66 and a beta of 0.73. The firm has a 50-day moving average price of $28.47 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 released its quarterly earnings data on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The business had revenue of $231.27 million during the quarter, compared to analyst estimates of $227.77 million. During the same period in the previous year, the business earned $0.58 EPS. On average, sell-side analysts expect that First Hawaiian, Inc. will post 2.34 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, August 28th. Stockholders of record on Monday, August 17th will be given a $0.26 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. First Hawaiian’s payout ratio is 45.22%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FHB shares. Stephens raised First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective on the stock in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. TD Cowen decreased their price objective on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday, July 29th. Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Finally, Wells Fargo & Company increased their target price on shares of First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, First Hawaiian presently 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.