Retirement Planning Group LLC Grows Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

Retirement Planning Group LLC raised its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 2.5% during the third quarter, HoldingsChannel reports. The fund owned 33,696 shares of the bank’s stock after acquiring an additional 808 shares during the quarter. Retirement Planning Group LLC’s holdings in First Hawaiian were worth $780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in FHB. Raymond James & Associates lifted its stake in shares of First Hawaiian by 5.5% during the 2nd quarter. Raymond James & Associates now owns 1,079,969 shares of the bank’s stock worth $22,420,000 after acquiring an additional 56,445 shares during the last quarter. Reinhart Partners LLC. lifted its position in shares of First Hawaiian by 2.1% during the first quarter. Reinhart Partners LLC. now owns 2,299,222 shares of the bank’s stock worth $50,491,000 after purchasing an additional 48,213 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake 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 valued at $218,025,000 after purchasing an additional 942,634 shares during the period. Vanguard Group Inc. grew its holdings in shares of First Hawaiian by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank’s stock worth $334,927,000 after purchasing an additional 87,304 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in First Hawaiian by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after buying an additional 203,407 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler raised their price objective on First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Barclays lifted their target price on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. The Goldman Sachs Group increased their price target on First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company decreased their price objective on First Hawaiian from $22.00 to $20.00 and set an “underweight” rating for the company in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, First Hawaiian currently has an average rating of “Reduce” and a consensus target price of $24.17.

First Hawaiian Trading Up 2.8 %

Shares of NASDAQ:FHB opened at $23.54 on Monday. The company has a market capitalization of $3.01 billion, a PE ratio of 13.53 and a beta of 0.98. First Hawaiian, Inc. has a 12-month low of $17.18 and a 12-month high of $26.18. The business’s fifty day simple moving average is $23.32 and its 200-day simple moving average is $22.21.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, July 26th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. The company 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%. Research analysts predict that First Hawaiian, Inc. will post 1.78 EPS for the current year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, August 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.42%. First Hawaiian’s dividend payout ratio (DPR) is presently 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.