Reinhart Partners LLC. Acquires 231,018 Shares of First Hawaiian, Inc. $FHB

Reinhart Partners LLC. raised its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 9.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,591,559 shares of the bank’s stock after acquiring an additional 231,018 shares during the quarter. First Hawaiian makes up 2.0% of Reinhart Partners LLC.’s holdings, making the stock its 25th largest holding. Reinhart Partners LLC. owned about 2.09% of First Hawaiian worth $65,567,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Eurizon Capital SGR S.p.A. bought a new position in shares of First Hawaiian during the 4th quarter worth $26,000. Northwestern Mutual Wealth Management Co. grew its position in shares of First Hawaiian by 2,916.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after buying an additional 1,050 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after buying an additional 534 shares in the last quarter. Eagle Bay Advisors LLC bought a new position in shares of First Hawaiian during the 4th quarter worth $46,000. Finally, Danske Bank A S bought a new position in shares of First Hawaiian during the 3rd quarter worth $47,000. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FHB. Wells Fargo & Company increased their price target on First Hawaiian from $24.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, March 30th. TD Cowen increased their price target on First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Tuesday, April 28th. Stephens set a $28.00 price target on First Hawaiian in a research report on Monday, April 27th. Wall Street Zen downgraded First Hawaiian from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings raised First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $27.56.

First Hawaiian Price Performance

Shares of FHB stock opened at $27.01 on Wednesday. First Hawaiian, Inc. has a 1-year low of $22.65 and a 1-year high of $28.35. The stock’s 50-day moving average is $26.31 and its 200 day moving average is $25.93. The company has a market cap of $3.29 billion, a P/E ratio of 11.85, a PEG ratio of 1.96 and a beta of 0.74.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, April 24th. The bank reported $0.55 earnings per share 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 company had revenue of $220.35 million for the quarter, compared to the consensus estimate of $223.59 million. During the same quarter last year, the company earned $0.47 earnings per share. On average, analysts anticipate that First Hawaiian, Inc. will post 2.33 EPS for the current 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 of this dividend was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a yield of 3.9%. First Hawaiian’s dividend payout ratio (DPR) is presently 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.