First Hawaiian, Inc. (NASDAQ:FHB) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 9.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,502,160 shares of the bank’s stock after acquiring an additional 942,634 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of First Hawaiian worth $218,025,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in First Hawaiian in the fourth quarter valued at $32,689,000. Hotchkis & Wiley Capital Management LLC lifted its position in First Hawaiian by 124.3% in 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 buying an additional 1,408,160 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in First Hawaiian during the fourth quarter worth about $1,880,000. Raymond James & Associates increased 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 acquiring an additional 56,445 shares during the last quarter. Finally, Pinebridge Investments L.P. raised its stake in shares of First Hawaiian by 101.0% in the 4th quarter. Pinebridge Investments L.P. now owns 136,217 shares of the bank’s stock valued at $3,114,000 after acquiring an additional 68,457 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $23.12 on Friday. The stock has a market cap of $2.96 billion, a P/E ratio of 13.29 and a beta of 0.98. First Hawaiian, Inc. has a 1-year low of $17.18 and a 1-year high of $26.18. The firm has a fifty day moving average price of $23.78 and a 200 day moving average price of $22.08.

First Hawaiian (NASDAQ:FHB) last released its quarterly 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. The firm had revenue of $204.62 million for the quarter, compared to analyst estimates of $202.94 million. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. Sell-side analysts expect that First Hawaiian, Inc. will post 1.79 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Monday, August 19th. First Hawaiian’s payout ratio is currently 59.77%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on FHB shares. Piper Sandler lifted their target price on shares of First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $18.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. The Goldman Sachs Group upped their target price on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. cut shares of First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price target for the company. in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods upped their price objective on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target 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.