Utah Retirement Systems Acquires 7,300 Shares of First Hawaiian Inc (FHB)
Utah Retirement Systems boosted its holdings in shares of First Hawaiian Inc (NASDAQ:FHB) by 57.9% in the third quarter, HoldingsChannel.com reports. The fund owned 19,900 shares of the bank’s stock after acquiring an additional 7,300 shares during the period. Utah Retirement Systems’ holdings in First Hawaiian were worth $540,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of FHB. EJF Capital LLC bought a new stake in shares of First Hawaiian in the third quarter worth approximately $8,187,000. Citadel Advisors LLC grew its stake in shares of First Hawaiian by 82.1% in the third quarter. Citadel Advisors LLC now owns 3,118,412 shares of the bank’s stock worth $84,696,000 after acquiring an additional 1,406,156 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of First Hawaiian by 39.2% in the third quarter. Loomis Sayles & Co. L P now owns 10,343 shares of the bank’s stock worth $281,000 after acquiring an additional 2,915 shares during the period. Tower Research Capital LLC TRC bought a new stake in shares of First Hawaiian in the third quarter worth approximately $258,000. Finally, Allianz Asset Management GmbH grew its stake in shares of First Hawaiian by 27.6% in the third quarter. Allianz Asset Management GmbH now owns 657,500 shares of the bank’s stock worth $17,858,000 after acquiring an additional 142,200 shares during the period. 78.57% of the stock is owned by institutional investors.
FHB opened at $24.55 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $3.27 billion, a P/E ratio of 12.57, a price-to-earnings-growth ratio of 1.73 and a beta of 0.77. First Hawaiian Inc has a 12-month low of $22.91 and a 12-month high of $32.36.
The company also recently declared a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Monday, November 26th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.91%. The ex-dividend date was Friday, November 23rd. First Hawaiian’s dividend payout ratio is currently 58.18%.
In other First Hawaiian news, Director Paribas Bnp sold 20,000,000 shares of First Hawaiian stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $28.70, for a total transaction of $574,000,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.10% of the stock is owned by insiders.
FHB has been the topic of a number of research reports. BidaskClub raised shares of First Hawaiian from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Zacks Investment Research raised shares of First Hawaiian from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Wednesday, September 26th. Citigroup dropped their price objective on shares of First Hawaiian from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Monday, October 29th. ValuEngine downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Finally, Wells Fargo & Co set a $29.00 price objective on shares of First Hawaiian and gave the stock a “hold” rating in a report on Tuesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $31.44.
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First Hawaiian Company Profile
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.
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