iSAM Funds UK Ltd Buys Shares of 39,900 First Hawaiian, Inc. $FHB

iSAM Funds UK Ltd bought a new position in First Hawaiian, Inc. (NASDAQ:FHB) in the second quarter, Holdings Channel.com reports. The institutional investor bought 39,900 shares of the bank’s stock, valued at approximately $1,169,000. First Hawaiian accounts for approximately 0.8% of iSAM Funds UK Ltd’s portfolio, making the stock its 26th largest holding.

Several other hedge funds have also modified their holdings of FHB. BlackRock Inc. bought a new position in shares of First Hawaiian during the 2nd quarter worth approximately $483,971,000. Ieq Capital LLC acquired a new stake in First Hawaiian in the second quarter valued at approximately $2,653,000. Quantinno Capital Management LP boosted its stake in First Hawaiian by 60.3% in the first quarter. Quantinno Capital Management LP now owns 1,798,815 shares of the bank’s stock valued at $44,323,000 after acquiring an additional 676,433 shares in the last quarter. Bank of America Corp DE grew its holdings in First Hawaiian by 36.6% in the first quarter. Bank of America Corp DE now owns 1,086,157 shares of the bank’s stock worth $26,763,000 after purchasing an additional 291,271 shares during the last quarter. Finally, Entropy Technologies LP grew its holdings in First Hawaiian by 637.3% in the first quarter. Entropy Technologies LP now owns 74,426 shares of the bank’s stock worth $1,834,000 after purchasing an additional 64,332 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Trading Up 2.0%

Shares of First Hawaiian stock opened at $25.75 on Thursday. The firm’s 50 day simple moving average is $28.07 and its two-hundred day simple moving average is $26.89. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 11.20, a PEG ratio of 1.59 and a beta of 0.72. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $30.58.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, sell-side analysts predict that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. First Hawaiian’s payout ratio is currently 45.22%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. The Goldman Sachs Group boosted their target price on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research note on Tuesday, July 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. Stephens upgraded First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price target for the company in a research note on Thursday, August 6th. Finally, TD Cowen lowered their price target on First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $30.25.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.