First Hawaiian, Inc. (NASDAQ:FHB) Stock Holdings Increased by Public Sector Pension Investment Board

Public Sector Pension Investment Board grew its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 281,232 shares of the bank’s stock after buying an additional 19,645 shares during the period. Public Sector Pension Investment Board owned about 0.22% of First Hawaiian worth $5,838,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in FHB. Whittier Trust Co. grew its position in shares of First Hawaiian by 68.7% during the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after buying an additional 507 shares during the last quarter. Treasurer of the State of North Carolina boosted its stake in First Hawaiian by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 56,400 shares of the bank’s stock valued at $1,289,000 after acquiring an additional 550 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of First Hawaiian by 8.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank’s stock valued at $163,000 after purchasing an additional 550 shares during the last quarter. Abich Financial Wealth Management LLC raised its position in shares of First Hawaiian by 48.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after purchasing an additional 652 shares during the period. Finally, Arizona State Retirement System raised its position in shares of First Hawaiian by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 35,729 shares of the bank’s stock worth $742,000 after purchasing an additional 658 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Performance

Shares of NASDAQ FHB opened at $22.70 on Thursday. First Hawaiian, Inc. has a 1 year low of $17.18 and a 1 year high of $26.18. The firm has a market cap of $2.90 billion, a P/E ratio of 13.05 and a beta of 0.98. The stock has a fifty day moving average price of $23.78 and a two-hundred day moving average price of $22.08.

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

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.58%. First Hawaiian’s payout ratio is currently 59.77%.

Analyst Ratings Changes

A number of research analysts recently commented on FHB shares. Wells Fargo & Company upped their price objective on First Hawaiian from $18.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, July 29th. Piper Sandler upped their price target 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. Barclays upped their target price 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. The Goldman Sachs Group lifted their target price on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods increased their price target on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, First Hawaiian presently has a consensus rating of “Reduce” and an average target price of $24.67.

About First Hawaiian

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.