Principal Financial Group Inc. Has $16.08 Million Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Principal Financial Group Inc. increased its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 619,714 shares of the bank’s stock after purchasing an additional 17,515 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of First Hawaiian worth $16,082,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Creative Planning lifted its stake in First Hawaiian by 6.4% in the third quarter. Creative Planning now owns 23,629 shares of the bank’s stock valued at $547,000 after acquiring an additional 1,424 shares during the last quarter. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 625 shares during the period. International Assets Investment Management LLC raised its position in shares of First Hawaiian by 3,218.7% in the third quarter. International Assets Investment Management LLC now owns 31,229 shares of the bank’s stock valued at $7,230,000 after purchasing an additional 30,288 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of First Hawaiian by 5.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank’s stock valued at $237,000 after purchasing an additional 488 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of First Hawaiian by 58.8% in the third quarter. Nisa Investment Advisors LLC now owns 7,020 shares of the bank’s stock valued at $163,000 after purchasing an additional 2,600 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Up 0.4 %

FHB stock opened at $26.47 on Wednesday. First Hawaiian, Inc. has a 12 month low of $19.48 and a 12 month high of $28.80. The firm has a market cap of $3.39 billion, a P/E ratio of 14.79, a P/E/G ratio of 3.28 and a beta of 0.99. The company’s 50-day moving average price is $26.40 and its two-hundred day moving average price is $25.38.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same period last year, the company posted $0.37 EPS. Equities analysts predict that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Friday, February 14th. First Hawaiian’s dividend payout ratio is currently 58.10%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Barclays increased their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Monday, February 3rd. Piper Sandler raised their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, First Hawaiian presently has an average rating of “Hold” and an average price target of $29.00.

First Hawaiian 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.