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

Edgestream Partners L.P. bought a new stake in First Hawaiian, Inc. (NASDAQ:FHB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 70,867 shares of the bank’s stock, valued at approximately $1,641,000. Edgestream Partners L.P. owned about 0.06% of First Hawaiian as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Whittier Trust Co. lifted its stake in shares of First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after purchasing an additional 507 shares during the period. Blue Trust Inc. increased its holdings in First Hawaiian by 51.5% in the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after buying an additional 625 shares in the last quarter. GAMMA Investing LLC raised its position in shares of First Hawaiian by 50.3% in the second quarter. GAMMA Investing LLC now owns 2,122 shares of the bank’s stock worth $44,000 after acquiring an additional 710 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of First Hawaiian during the 3rd quarter worth about $51,000. Finally, Abich Financial Wealth Management LLC grew its position in shares of First Hawaiian by 32.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock valued at $55,000 after acquiring an additional 644 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Price Performance

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

First Hawaiian Announces Dividend

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

Wall Street Analysts Forecast Growth

FHB has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price target on First Hawaiian from $21.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday. JPMorgan Chase & Co. dropped their price target 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. Stephens initiated coverage on shares of First Hawaiian in a report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on shares of First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research note on Tuesday, November 26th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.57.

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 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.