Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 7.0% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 144,232 shares of the bank’s stock after purchasing an additional 9,377 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in First Hawaiian were worth $2,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Yacktman Asset Management LP raised its stake in shares of First Hawaiian by 0.7% during the 2nd quarter. Yacktman Asset Management LP now owns 1,924,107 shares of the bank’s stock worth $34,653,000 after buying an additional 13,815 shares in the last quarter. Commerce Bank raised its stake in shares of First Hawaiian by 81.9% during the 2nd quarter. Commerce Bank now owns 25,383 shares of the bank’s stock worth $457,000 after buying an additional 11,428 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of First Hawaiian by 27.6% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 14,210 shares of the bank’s stock worth $256,000 after buying an additional 3,076 shares in the last quarter. Connable Office Inc. purchased a new position in shares of First Hawaiian during the 2nd quarter worth approximately $184,000. Finally, Parallel Advisors LLC increased its stake in First Hawaiian by 203.4% in the 2nd quarter. Parallel Advisors LLC now owns 2,333 shares of the bank’s stock valued at $42,000 after purchasing an additional 1,564 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Performance

First Hawaiian stock opened at $19.49 on Tuesday. The stock has a fifty day moving average of $18.20 and a two-hundred day moving average of $18.56. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 9.33 and a beta of 1.04. First Hawaiian, Inc. has a fifty-two week low of $15.08 and a fifty-two week high of $28.28.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, October 27th. The bank reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. First Hawaiian had a return on equity of 11.48% and a net margin of 24.88%. The business had revenue of $285.90 million for the quarter, compared to analysts’ expectations of $199.36 million. During the same quarter last year, the firm earned $0.54 earnings per share. On average, analysts forecast that First Hawaiian, Inc. will post 1.93 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 20th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.34%. The ex-dividend date is Friday, November 17th. First Hawaiian’s dividend payout ratio (DPR) is 49.76%.

Analyst Ratings Changes

Several research firms recently weighed in on FHB. StockNews.com began coverage on First Hawaiian in a research note on Thursday, October 5th. They issued a “sell” rating for the company. The Goldman Sachs Group raised their price objective on First Hawaiian from $18.00 to $20.00 and gave the company a “sell” rating in a research note on Monday, July 31st. Finally, Wells Fargo & Company dropped their price objective on First Hawaiian from $20.00 to $17.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 4th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, First Hawaiian currently has an average rating of “Hold” and an average price target of $21.20.

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 through three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, include checking and savings accounts, and other deposit accounts.