M&T Bank Corp raised its position in First Hawaiian Inc (NASDAQ:FHB) by 1.4% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 472,577 shares of the bank’s stock after purchasing an additional 6,646 shares during the period. M&T Bank Corp owned 0.36% of First Hawaiian worth $8,149,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Twin Tree Management LP acquired a new stake in shares of First Hawaiian in the first quarter valued at about $40,000. Metropolitan Life Insurance Co NY lifted its stake in First Hawaiian by 21.5% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 3,192 shares of the bank’s stock worth $83,000 after purchasing an additional 564 shares in the last quarter. FinTrust Capital Advisors LLC acquired a new position in shares of First Hawaiian during the 1st quarter worth approximately $61,000. Advisor Group Holdings Inc. acquired a new position in shares of First Hawaiian during the 1st quarter worth approximately $80,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of First Hawaiian by 3,436.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 7,072 shares of the bank’s stock valued at $204,000 after purchasing an additional 6,872 shares in the last quarter. 98.93% of the stock is currently owned by institutional investors.
In other First Hawaiian news, CFO Ravi Mallela purchased 3,290 shares of First Hawaiian stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $14.87 per share, with a total value of $48,922.30. Company insiders own 0.57% of the company’s stock.
First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, July 24th. The bank reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). First Hawaiian had a net margin of 24.42% and a return on equity of 7.77%. The firm had revenue of $173.48 million during the quarter, compared to analysts’ expectations of $179.45 million. During the same period in the previous year, the firm earned $0.54 EPS. As a group, research analysts predict that First Hawaiian Inc will post 1.12 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 4th. Investors of record on Monday, August 24th will be issued a $0.26 dividend. The ex-dividend date is Friday, August 21st. This represents a $1.04 annualized dividend and a dividend yield of 5.98%. First Hawaiian’s dividend payout ratio is presently 47.49%.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded First Hawaiian from a “sell” rating to a “hold” rating in a report on Wednesday. UBS Group lowered shares of First Hawaiian from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $15.00 to $13.00 in a report on Monday, June 29th. Bank of America raised shares of First Hawaiian from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $19.00 to $23.00 in a research note on Monday, June 8th. Wells Fargo & Co cut shares of First Hawaiian from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $16.00 to $13.00 in a research note on Tuesday, July 7th. Finally, Compass Point raised shares of First Hawaiian from a “neutral” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Monday, April 27th. Three analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. First Hawaiian has a consensus rating of “Hold” and a consensus target price of $20.43.
About First Hawaiian
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking 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 accepts various deposit products, including checking and savings accounts, and time deposit accounts.
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