Evergreen Capital Management LLC Purchases 2,318 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Evergreen Capital Management LLC lifted its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 6.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 35,717 shares of the bank’s stock after purchasing an additional 2,318 shares during the period. Evergreen Capital Management LLC’s holdings in First Hawaiian were worth $741,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of First Hawaiian during the fourth quarter valued at about $32,689,000. Hotchkis & Wiley Capital Management LLC lifted its position in shares of First Hawaiian by 124.3% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock valued at $58,079,000 after purchasing an additional 1,408,160 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of First Hawaiian during the fourth quarter valued at about $1,880,000. Raymond James & Associates lifted its position in shares of First Hawaiian by 5.5% during the second quarter. Raymond James & Associates now owns 1,079,969 shares of the bank’s stock valued at $22,420,000 after purchasing an additional 56,445 shares in the last quarter. Finally, Pinebridge Investments L.P. lifted its position in shares of First Hawaiian by 101.0% during the fourth quarter. Pinebridge Investments L.P. now owns 136,217 shares of the bank’s stock valued at $3,114,000 after purchasing an additional 68,457 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on FHB. Piper Sandler lifted their price objective on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. lowered shares of First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price objective on the stock. in a research report on Monday, July 29th. The Goldman Sachs Group lifted their price objective on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research report on Monday, July 29th. Barclays lifted their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company lifted their price objective on shares of First Hawaiian from $18.00 to $22.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $24.67.

First Hawaiian Stock Down 3.4 %

FHB opened at $22.93 on Wednesday. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 13.18 and a beta of 0.98. The firm has a 50-day moving average price of $23.82 and a 200-day moving average price of $22.07. First Hawaiian, Inc. has a twelve month low of $17.18 and a twelve month high of $26.18.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, July 26th. The bank reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.06. The firm had revenue of $204.62 million during the quarter, compared to the consensus estimate of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. On average, sell-side analysts expect that First Hawaiian, Inc. will post 1.79 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.26 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.54%. First Hawaiian’s payout ratio is 59.77%.

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.