Rhumbline Advisers Grows Holdings in First Hawaiian Inc (FHB)
Rhumbline Advisers raised its holdings in shares of First Hawaiian Inc (NYSE:FHB) by 146.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,846 shares of the bank’s stock after purchasing an additional 28,393 shares during the quarter. Rhumbline Advisers’ holdings in First Hawaiian were worth $1,465,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Prudential Financial Inc. lifted its position in First Hawaiian by 1,189.4% during the first quarter. Prudential Financial Inc. now owns 102,921 shares of the bank’s stock valued at $3,079,000 after purchasing an additional 94,939 shares during the last quarter. Bank of New York Mellon Corp lifted its position in First Hawaiian by 28.3% during the first quarter. Bank of New York Mellon Corp now owns 241,309 shares of the bank’s stock valued at $7,220,000 after purchasing an additional 53,200 shares during the last quarter. Vanguard Group Inc. lifted its position in First Hawaiian by 149.2% during the first quarter. Vanguard Group Inc. now owns 3,908,897 shares of the bank’s stock valued at $116,954,000 after purchasing an additional 2,340,324 shares during the last quarter. Eventide Asset Management LLC lifted its position in First Hawaiian by 108.7% during the first quarter. Eventide Asset Management LLC now owns 24,000 shares of the bank’s stock valued at $718,000 after purchasing an additional 12,500 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in First Hawaiian during the first quarter valued at $10,068,000.
Several equities analysts have commented on FHB shares. Zacks Investment Research lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. Bank of America Corporation restated a “neutral” rating and issued a $34.00 target price (down previously from $37.00) on shares of First Hawaiian in a report on Thursday, June 22nd. UBS AG restated a “neutral” rating and issued a $29.00 target price (down previously from $30.00) on shares of First Hawaiian in a report on Monday, July 31st. Finally, BidaskClub upgraded shares of First Hawaiian from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $32.83.
Shares of First Hawaiian Inc (NYSE:FHB) opened at 28.91 on Thursday. First Hawaiian Inc has a 12-month low of $25.80 and a 12-month high of $35.47. The company has a market cap of $4.03 billion and a price-to-earnings ratio of 18.07. The stock has a 50 day moving average of $28.21 and a 200 day moving average of $28.21.
First Hawaiian (NYSE:FHB) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.41 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.41. First Hawaiian had a net margin of 31.59% and a return on equity of 9.02%. The firm had revenue of $131.30 million during the quarter, compared to analyst estimates of $134.58 million. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts predict that First Hawaiian Inc will post $1.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Thursday, August 24th.
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About First Hawaiian
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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