Y Intercept Hong Kong Ltd Makes New $632,000 Investment in First Hawaiian, Inc. (NASDAQ:FHB)

Y Intercept Hong Kong Ltd purchased a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,288 shares of the bank’s stock, valued at approximately $632,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Whittier Trust Co. increased its stake in shares of First Hawaiian by 68.7% during the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after buying an additional 507 shares during the period. Blue Trust Inc. increased its stake in shares of First Hawaiian by 51.5% during the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after buying an additional 625 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of First Hawaiian during the third quarter worth approximately $51,000. Abich Financial Wealth Management LLC increased its stake in shares of First Hawaiian by 32.5% during the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock worth $55,000 after buying an additional 644 shares during the period. Finally, Quarry LP increased its stake in shares of First Hawaiian by 459.2% during the third quarter. Quarry LP now owns 2,483 shares of the bank’s stock worth $57,000 after buying an additional 2,039 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FHB has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 9th. Stephens started coverage on shares of First Hawaiian in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 target price on the stock. Wells Fargo & Company upped their price target on First Hawaiian from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. Keefe, Bruyette & Woods upped their price target on First Hawaiian from $25.00 to $28.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Barclays upped their price target on First Hawaiian from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.14.

First Hawaiian Stock Down 0.7 %

Shares of FHB opened at $27.06 on Friday. The stock has a 50 day moving average price of $25.95 and a 200 day moving average price of $23.69. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 15.46 and a beta of 0.98. First Hawaiian, Inc. has a 52-week low of $19.48 and a 52-week high of $28.80.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Monday, November 18th. First Hawaiian’s payout ratio is currently 59.43%.

First Hawaiian 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.