24,635 Shares in First Hawaiian, Inc. $FHB Acquired by Commerce Bank

Commerce Bank acquired a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 24,635 shares of the bank’s stock, valued at approximately $722,000.

A number of other institutional investors have also recently added to or reduced their stakes in FHB. Eurizon Capital SGR S.p.A. bought a new stake in First Hawaiian in the fourth quarter valued at $26,000. Elevation Wealth Partners LLC grew its position in shares of First Hawaiian by 378.5% during 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 last quarter. Northwestern Mutual Wealth Management Co. grew 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 worth $27,000 after acquiring an additional 1,050 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of 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 last quarter. Finally, Danske Bank A S acquired a new stake in shares of First Hawaiian in the 3rd quarter worth about $47,000. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Performance

Shares of FHB opened at $25.96 on Thursday. First Hawaiian, Inc. has a one year low of $22.65 and a one year high of $30.58. The stock’s fifty day moving average is $28.34 and its 200-day moving average is $26.93. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $231.27 million during the quarter, compared to analyst estimates of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same quarter in the prior year, the firm posted $0.58 EPS. Analysts forecast that First Hawaiian, Inc. will post 2.34 EPS 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 paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, August 17th. First Hawaiian’s dividend payout ratio is currently 45.22%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. JPMorgan Chase & Co. upped their target price on shares of First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. TD Cowen dropped their price target on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Wednesday, July 29th. Wells Fargo & Company lifted their price target on First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Finally, Piper Sandler boosted their price objective on First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the company 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.