Wealthfront Advisers LLC Takes $1.51 Million Position in First Hawaiian, Inc. (NASDAQ:FHB)

Wealthfront Advisers LLC acquired a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 58,071 shares of the bank’s stock, valued at approximately $1,507,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in First Hawaiian in the fourth quarter valued at $36,000. Quarry LP grew its position in First Hawaiian by 459.2% in the third quarter. Quarry LP now owns 2,483 shares of the bank’s stock valued at $57,000 after acquiring an additional 2,039 shares during the period. Blue Trust Inc. grew its position in First Hawaiian by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank’s stock valued at $71,000 after acquiring an additional 904 shares during the period. Global Retirement Partners LLC grew its position in First Hawaiian by 32.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock valued at $74,000 after acquiring an additional 693 shares during the period. Finally, GAMMA Investing LLC grew its position in First Hawaiian by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 3,624 shares of the bank’s stock valued at $94,000 after acquiring an additional 461 shares during the period. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Up 2.1 %

Shares of FHB opened at $24.66 on Friday. First Hawaiian, Inc. has a 12-month low of $19.48 and a 12-month high of $28.80. The firm has a market capitalization of $3.12 billion, a PE ratio of 13.78, a price-to-earnings-growth ratio of 3.28 and a beta of 0.94. The stock’s fifty day simple moving average is $26.37 and its 200-day simple moving average is $25.58.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same quarter last year, the firm earned $0.37 EPS. Analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.22%. The ex-dividend date was Friday, February 14th. First Hawaiian’s payout ratio is 58.10%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FHB shares. Piper Sandler upped their price target on First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Barclays increased their target price on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Wells Fargo & Company increased their target price on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. The Goldman Sachs Group increased their target price on First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods increased their target price on First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $29.00.

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.