Wesbanco Bank Inc. Purchases Shares of 18,797 First Hawaiian, Inc. (NASDAQ:FHB)

Wesbanco Bank Inc. acquired a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the third quarter, Holdings Channel reports. The institutional investor acquired 18,797 shares of the bank’s stock, valued at approximately $435,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in First Hawaiian by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank’s stock valued at $334,927,000 after purchasing an additional 87,304 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of First Hawaiian by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after buying an additional 942,634 shares during the period. Dimensional Fund Advisors LP raised its stake in First Hawaiian by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock worth $108,057,000 after buying an additional 370,722 shares during the last quarter. American Century Companies Inc. lifted its holdings in First Hawaiian by 6.5% in the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock valued at $69,321,000 after buying an additional 203,407 shares during the period. Finally, Reinhart Partners LLC. boosted its position in First Hawaiian by 6.1% during the third quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock valued at $56,980,000 after acquiring an additional 141,327 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

First Hawaiian Stock Up 1.0 %

Shares of NASDAQ:FHB opened at $24.44 on Thursday. The business’s 50 day moving average is $23.39 and its 200 day moving average is $22.25. First Hawaiian, Inc. has a 12-month low of $17.18 and a 12-month high of $26.18. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 14.05 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data 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 the consensus estimate of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. As a group, equities research analysts expect that First Hawaiian, Inc. will post 1.78 earnings per share for the current year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Monday, August 19th. First Hawaiian’s payout ratio is 59.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FHB. Wells Fargo & Company dropped their price objective on First Hawaiian from $22.00 to $20.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price target on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research note on Monday, July 29th. Piper Sandler increased their target price on First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $24.17.

First Hawaiian Company 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.