First Hawaiian, Inc. (NASDAQ:FHB) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC increased its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 30.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 513,000 shares of the bank’s stock after acquiring an additional 120,400 shares during the quarter. Renaissance Technologies LLC owned approximately 0.40% of First Hawaiian worth $10,650,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Whittier Trust Co. increased its holdings 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 acquiring an additional 507 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of First Hawaiian by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 56,400 shares of the bank’s stock valued at $1,289,000 after acquiring an additional 550 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of First Hawaiian by 8.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank’s stock valued at $163,000 after acquiring an additional 550 shares during the period. Abich Financial Wealth Management LLC increased its holdings in shares of First Hawaiian by 48.9% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock valued at $44,000 after acquiring an additional 652 shares during the period. Finally, Arizona State Retirement System increased its holdings in shares of First Hawaiian by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 35,729 shares of the bank’s stock valued at $742,000 after acquiring an additional 658 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

First Hawaiian Stock Performance

Shares of NASDAQ FHB opened at $23.74 on Tuesday. The firm has a market capitalization of $3.03 billion, a P/E ratio of 13.64 and a beta of 0.98. First Hawaiian, Inc. has a one year low of $17.18 and a one year high of $26.18. The company’s fifty day moving average is $23.85 and its two-hundred day moving average is $22.06.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, July 26th. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.42 by $0.06. The company had revenue of $204.62 million for the quarter, compared to analyst estimates of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. On average, sell-side analysts forecast that First Hawaiian, Inc. will post 1.79 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were given a $0.26 dividend. The ex-dividend date was Monday, August 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.38%. First Hawaiian’s dividend payout ratio is presently 59.77%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Barclays lifted their target price on shares of First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Piper Sandler boosted their price objective on shares of First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. cut shares of First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price objective on the stock. in a research note on Monday, July 29th. Keefe, Bruyette & Woods boosted their price objective on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Finally, The Goldman Sachs Group boosted their price objective on shares of First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently 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.