Insider Buying: First Hawaiian, Inc. (NASDAQ:FHB) CEO Buys 23,500 Shares of Stock

First Hawaiian, Inc. (NASDAQ:FHB – Get Rating) CEO Robert S. Harrison purchased 23,500 shares of First Hawaiian stock in a transaction that occurred on Thursday, March 16th. The shares were bought at an average price of $21.61 per share, for a total transaction of $507,835.00. Following the transaction, the chief executive officer now directly owns 350,449 shares of the company’s stock, valued at $7,573,202.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

First Hawaiian Stock Performance

Shares of First Hawaiian stock traded down $0.53 during midday trading on Friday, hitting $21.14. The company had a trading volume of 2,978,183 shares, compared to its average volume of 721,215. The company has a 50 day moving average of $26.04 and a 200 day moving average of $25.81. First Hawaiian, Inc. has a 52-week low of $19.68 and a 52-week high of $29.53. The stock has a market capitalization of $2.70 billion, a P/E ratio of 10.21, a P/E/G ratio of 2.01 and a beta of 1.06.

First Hawaiian (NASDAQ:FHB – Get Rating) last issued its earnings results on Friday, January 27th. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. First Hawaiian had a return on equity of 11.80% and a net margin of 31.53%. The business had revenue of $219.95 million for the quarter, compared to the consensus estimate of $216.39 million. Equities research analysts forecast that First Hawaiian, Inc. will post 2.24 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 3rd. Shareholders of record on Friday, February 17th were paid a dividend of $0.26 per share. The ex-dividend date was Thursday, February 16th. This represents a $1.04 annualized dividend and a yield of 4.92%. First Hawaiian’s dividend payout ratio is 50.24%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on FHB shares. Wells Fargo & Company boosted their price target on shares of First Hawaiian from $26.00 to $28.00 and gave the company an “equal weight” rating in a research report on Monday, January 30th. JPMorgan Chase & Co. raised shares of First Hawaiian from an “underweight” rating to a “neutral” rating and set a $26.00 target price for the company in a research note on Tuesday, December 13th. Finally, StockNews.com initiated coverage on First Hawaiian in a research report on Thursday. They issued a “sell” rating on the stock.

Institutional Trading of First Hawaiian

Several institutional investors have recently added to or reduced their stakes in FHB. CWM LLC lifted its holdings in shares of First Hawaiian by 355.2% during the 3rd quarter. CWM LLC now owns 1,006 shares of the bank’s stock valued at $25,000 after buying an additional 785 shares during the period. Ronald Blue Trust Inc. lifted its holdings in shares of First Hawaiian by 53.8% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,280 shares of the bank’s stock valued at $32,000 after buying an additional 448 shares during the period. Parallel Advisors LLC lifted its holdings in shares of First Hawaiian by 40.5% during the 4th quarter. Parallel Advisors LLC now owns 1,405 shares of the bank’s stock valued at $37,000 after buying an additional 405 shares during the period. Eagle Bay Advisors LLC bought a new position in shares of First Hawaiian during the 2nd quarter valued at $36,000. Finally, Wipfli Financial Advisors LLC bought a new position in shares of First Hawaiian during the 3rd quarter valued at $47,000. 97.77% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Company Profile

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First Hawaiian, Inc is a bank holding company engaged in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary, First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other.