Louisiana State Employees Retirement System Makes New $1.34 Million Investment in First Hawaiian, Inc. $FHB

Louisiana State Employees Retirement System bought a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 54,400 shares of the bank’s stock, valued at approximately $1,340,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in First Hawaiian by 8.6% during the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock worth $4,041,000 after acquiring an additional 13,071 shares during the last quarter. Integrated Wealth Concepts LLC increased its stake in First Hawaiian by 9.3% in the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock valued at $246,000 after purchasing an additional 856 shares in the last quarter. United Services Automobile Association bought a new stake in First Hawaiian in the first quarter valued at approximately $201,000. Empowered Funds LLC raised its holdings in First Hawaiian by 10.4% in the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after purchasing an additional 1,542 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in First Hawaiian by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock worth $10,389,000 after purchasing an additional 31,686 shares during the period. 97.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FHB. JPMorgan Chase & Co. boosted their price target on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a report on Wednesday. Piper Sandler raised their price objective on First Hawaiian from $25.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. TD Cowen lifted their target price on First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Tuesday, April 28th. Wells Fargo & Company boosted their target price on First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday, March 30th. Finally, Wall Street Zen downgraded First Hawaiian from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $28.31.

First Hawaiian Stock Down 0.8%

First Hawaiian stock opened at $29.97 on Friday. The stock has a market capitalization of $3.65 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 2.22 and a beta of 0.72. First Hawaiian, Inc. has a twelve month low of $22.65 and a twelve month high of $30.56. The company has a 50 day moving average of $27.61 and a 200-day moving average of $26.48.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, April 24th. The bank reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $220.35 million for the quarter, compared to analyst estimates of $223.59 million. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. During the same period last year, the business posted $0.47 earnings per share. Equities analysts anticipate that First Hawaiian, Inc. will post 2.33 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Monday, May 18th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, May 18th. First Hawaiian’s dividend payout ratio is 45.61%.

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.