First Hawaiian Inc (NASDAQ:FHB) Position Lifted by Pictet North America Advisors SA
Pictet North America Advisors SA raised its stake in shares of First Hawaiian Inc (NASDAQ:FHB) by 16.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,000 shares of the bank’s stock after acquiring an additional 10,000 shares during the quarter. Pictet North America Advisors SA owned approximately 0.05% of First Hawaiian worth $1,811,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. State Board of Administration of Florida Retirement System raised its holdings in shares of First Hawaiian by 134.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 33,897 shares of the bank’s stock worth $883,000 after purchasing an additional 19,430 shares during the period. BTIM Corp. raised its holdings in shares of First Hawaiian by 21.0% during the second quarter. BTIM Corp. now owns 748,517 shares of the bank’s stock worth $19,364,000 after purchasing an additional 130,146 shares during the period. American Century Companies Inc. raised its holdings in shares of First Hawaiian by 3.9% during the first quarter. American Century Companies Inc. now owns 7,242,712 shares of the bank’s stock worth $188,673,000 after purchasing an additional 269,330 shares during the period. Westwood Holdings Group Inc. increased its holdings in shares of First Hawaiian by 73.2% in the 1st quarter. Westwood Holdings Group Inc. now owns 873,046 shares of the bank’s stock worth $22,743,000 after acquiring an additional 369,087 shares during the period. Finally, Fenimore Asset Management Inc. increased its holdings in shares of First Hawaiian by 330.6% in the 2nd quarter. Fenimore Asset Management Inc. now owns 200,966 shares of the bank’s stock worth $5,199,000 after acquiring an additional 154,295 shares during the period. Hedge funds and other institutional investors own 99.40% of the company’s stock.
FHB has been the topic of a number of analyst reports. ValuEngine cut shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a report on Tuesday, July 30th. BidaskClub raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a report on Friday, July 19th. JPMorgan Chase & Co. cut shares of First Hawaiian from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $26.50 to $26.00 in a report on Monday, July 29th. Finally, TheStreet raised shares of First Hawaiian from a “c” rating to a “b-” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. First Hawaiian currently has a consensus rating of “Hold” and a consensus target price of $27.80.
First Hawaiian (NASDAQ:FHB) last announced its earnings results on Thursday, July 25th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.02. The firm had revenue of $194.39 million during the quarter, compared to analyst estimates of $196.31 million. First Hawaiian had a net margin of 31.56% and a return on equity of 11.48%. During the same quarter in the prior year, the firm posted $0.50 EPS. Research analysts predict that First Hawaiian Inc will post 2.12 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Monday, August 26th will be given a $0.26 dividend. The ex-dividend date is Friday, August 23rd. This represents a $1.04 dividend on an annualized basis and a yield of 4.22%. First Hawaiian’s dividend payout ratio is presently 49.76%.
About First Hawaiian
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 in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, including checking and savings accounts, and time deposit accounts.
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