Legal & General Group Plc Takes Position in First Hawaiian, Inc. $FHB

Legal & General Group Plc purchased a new stake in First Hawaiian, Inc. (NASDAQ:FHB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 284,907 shares of the bank’s stock, valued at approximately $8,348,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund grew its position in First Hawaiian by 0.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock worth $1,602,000 after purchasing an additional 397 shares in the last quarter. Evolve Private Wealth LLC boosted its position in shares of First Hawaiian by 1.6% in the first quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock worth $643,000 after buying an additional 406 shares during the period. Parallel Advisors LLC boosted its position in shares of First Hawaiian by 11.3% in the first quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock worth $127,000 after buying an additional 525 shares during the period. Global Retirement Partners LLC grew its holdings 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 valued at $43,000 after buying an additional 534 shares in the last quarter. Finally, Royal Bank of Canada grew its holdings in shares of First Hawaiian by 0.4% during the fourth quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock valued at $3,540,000 after buying an additional 568 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

FHB has been the subject of several research analyst reports. Barclays increased their price objective on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research note on Wednesday, July 1st. Zacks Research downgraded First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Wells Fargo & Company increased their price target on shares of First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research report on Monday, July 6th. Finally, Benchmark restated a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued 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 Trading Down 1.4%

NASDAQ FHB opened at $25.25 on Wednesday. First Hawaiian, Inc. has a 1-year low of $22.65 and a 1-year high of $30.58. The firm’s fifty day simple moving average is $28.14 and its 200-day simple moving average is $26.89. The company has a market capitalization of $3.07 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.61 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data 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. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The firm had revenue of $231.27 million during the quarter, compared to analysts’ expectations of $227.77 million. During the same quarter last year, the firm earned $0.58 earnings per share. As a group, analysts predict that First Hawaiian, Inc. will post 2.34 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Monday, August 17th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.1%. First Hawaiian’s dividend payout ratio (DPR) is 45.22%.

About First Hawaiian

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.