Arizona State Retirement System Purchases 658 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Arizona State Retirement System increased its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,729 shares of the bank’s stock after buying an additional 658 shares during the quarter. Arizona State Retirement System’s holdings in First Hawaiian were worth $742,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. grew its stake in shares of First Hawaiian by 68.7% during the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after acquiring an additional 507 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in First Hawaiian by 35,620.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,786 shares of the bank’s stock worth $41,000 after purchasing an additional 1,781 shares during the last quarter. Versant Capital Management Inc grew its position in First Hawaiian by 55.7% in the second quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after purchasing an additional 678 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in First Hawaiian in the 1st quarter valued at $42,000. Finally, Abich Financial Wealth Management LLC lifted its position in First Hawaiian by 48.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after buying an additional 652 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Up 2.7 %

Shares of NASDAQ:FHB opened at $23.27 on Friday. First Hawaiian, Inc. has a 12-month low of $17.18 and a 12-month high of $26.18. The business has a 50 day moving average of $23.62 and a 200-day moving average of $21.94. The stock has a market cap of $2.97 billion, a PE ratio of 13.37 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, July 26th. The bank reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.06. The business had revenue of $204.62 million during the quarter, compared to the consensus estimate of $202.94 million. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. Equities research analysts expect that First Hawaiian, Inc. will post 1.79 earnings per share for the current year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.47%. First Hawaiian’s dividend payout ratio (DPR) is presently 59.77%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group raised their price objective on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods upped their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Wells Fargo & Company lifted their price target on First Hawaiian from $18.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. Barclays upped their price objective on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Piper Sandler raised their price objective on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $24.67.

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.