Sei Investments Co. Acquires 14,464 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Sei Investments Co. lifted its position in First Hawaiian, Inc. (NASDAQ:FHB) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 560,732 shares of the bank’s stock after acquiring an additional 14,464 shares during the period. Sei Investments Co.’s holdings in First Hawaiian were worth $11,641,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. lifted its holdings in shares of First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after acquiring an additional 507 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in shares of First Hawaiian by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 56,400 shares of the bank’s stock worth $1,289,000 after acquiring an additional 550 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of First Hawaiian by 8.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank’s stock worth $163,000 after acquiring an additional 550 shares during the last quarter. Abich Financial Wealth Management LLC lifted its holdings in shares of First Hawaiian by 48.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after acquiring an additional 652 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of First Hawaiian by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 35,729 shares of the bank’s stock worth $742,000 after acquiring an additional 658 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

NASDAQ FHB opened at $22.80 on Friday. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 13.10 and a beta of 0.98. The company’s 50-day simple moving average is $23.76 and its two-hundred day simple moving average is $22.08. First Hawaiian, Inc. has a one year low of $17.18 and a one year high of $26.18.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, July 26th. The bank reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. The business had revenue of $204.62 million for 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%. Equities 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. Shareholders of record on Monday, August 19th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Monday, August 19th. First Hawaiian’s dividend payout ratio (DPR) is 59.77%.

Wall Street Analysts Forecast Growth

FHB has been the subject of several analyst reports. JPMorgan Chase & Co. lowered shares of First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 target price for the company. in a report on Monday, July 29th. The Goldman Sachs Group raised their price target 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. Piper Sandler raised their price target on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price target on shares of First Hawaiian from $18.00 to $22.00 and gave the stock an “underweight” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of 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 investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and an average 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.