Edgestream Partners L.P. Makes New $1.64 Million Investment in First Hawaiian, Inc. (NASDAQ:FHB)

Edgestream Partners L.P. purchased a new stake in First Hawaiian, Inc. (NASDAQ:FHB) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 70,867 shares of the bank’s stock, valued at approximately $1,641,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates raised its holdings in First Hawaiian by 5.5% in the 2nd quarter. Raymond James & Associates now owns 1,079,969 shares of the bank’s stock valued at $22,420,000 after buying an additional 56,445 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of First Hawaiian by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after acquiring an additional 942,634 shares during the period. American Century Companies Inc. lifted its holdings in shares of 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 acquiring an additional 203,407 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of First Hawaiian by 100.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the bank’s stock worth $80,000 after acquiring an additional 1,943 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of First Hawaiian during the 2nd quarter worth approximately $462,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Price Performance

FHB stock opened at $27.06 on Wednesday. The business’s 50-day moving average is $25.22 and its two-hundred day moving average is $23.37. The firm has a market capitalization of $3.46 billion, a P/E ratio of 15.46 and a beta of 0.98. First Hawaiian, Inc. has a 1 year low of $19.48 and a 1 year high of $28.80.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a yield of 3.84%. First Hawaiian’s dividend payout ratio is currently 59.43%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on FHB. JPMorgan Chase & Co. cut their target price on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on First Hawaiian from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Tuesday. The Goldman Sachs Group raised their target price on First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a report on Tuesday, November 26th. Finally, Stephens started coverage on shares of First Hawaiian in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price target on the stock. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.57.

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.