MQS Management LLC Acquires New Position in First Hawaiian, Inc. (NASDAQ:FHB)

MQS Management LLC acquired a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 9,505 shares of the bank’s stock, valued at approximately $209,000.

A number of other hedge funds also recently made changes to their positions in the stock. Norges Bank bought a new position in First Hawaiian in the 4th quarter worth approximately $32,689,000. Hotchkis & Wiley Capital Management LLC boosted its stake in First Hawaiian by 124.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock worth $58,079,000 after purchasing an additional 1,408,160 shares during the period. Dimensional Fund Advisors LP boosted its stake in First Hawaiian by 17.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock worth $103,082,000 after purchasing an additional 668,871 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in First Hawaiian by 8.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,540,275 shares of the bank’s stock worth $35,211,000 after purchasing an additional 115,109 shares during the period. Finally, Rafferty Asset Management LLC boosted its stake in First Hawaiian by 87.4% in the 4th quarter. Rafferty Asset Management LLC now owns 240,628 shares of the bank’s stock worth $5,501,000 after purchasing an additional 112,250 shares during the period. 97.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on FHB shares. Barclays decreased their price objective on First Hawaiian from $25.00 to $24.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. JPMorgan Chase & Co. decreased their price objective on First Hawaiian from $25.50 to $24.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Finally, Wells Fargo & Company decreased their price objective on First Hawaiian from $20.00 to $18.00 and set an “underweight” rating on the stock in a report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $21.50.

First Hawaiian Stock Performance

Shares of FHB traded up $0.81 during mid-day trading on Thursday, hitting $25.12. 1,076,300 shares of the stock were exchanged, compared to its average volume of 695,703. The firm has a 50-day moving average of $21.23 and a two-hundred day moving average of $21.39. First Hawaiian, Inc. has a 52-week low of $17.18 and a 52-week high of $25.37. The company has a market cap of $3.21 billion, a PE ratio of 14.44 and a beta of 0.99.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. First Hawaiian had a return on equity of 9.16% and a net margin of 19.20%. The company had revenue of $205.80 million for the quarter, compared to analyst estimates of $202.41 million. On average, sell-side analysts predict that First Hawaiian, Inc. will post 1.71 EPS for the current year.

First Hawaiian Company Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.