Police & Firemen s Retirement System of New Jersey Purchases 2,406 Shares of First Hawaiian, Inc. $FHB

Police & Firemen s Retirement System of New Jersey grew its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 5.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,777 shares of the bank’s stock after acquiring an additional 2,406 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in First Hawaiian were worth $1,217,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of Montreal Can lifted its position in shares of First Hawaiian by 1.7% in the second quarter. Bank of Montreal Can now owns 25,258 shares of the bank’s stock worth $630,000 after purchasing an additional 422 shares in the last quarter. Voya Investment Management LLC increased its stake in First Hawaiian by 2.9% in the 1st quarter. Voya Investment Management LLC now owns 15,918 shares of the bank’s stock valued at $389,000 after buying an additional 448 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in First Hawaiian by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 37,109 shares of the bank’s stock worth $926,000 after buying an additional 616 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in First Hawaiian by 5.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,340 shares of the bank’s stock worth $308,000 after buying an additional 672 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of First Hawaiian by 199.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank’s stock worth $26,000 after buying an additional 705 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on FHB shares. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $26.00 to $27.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. TD Cowen initiated coverage on First Hawaiian in a research note on Thursday, September 25th. They issued a “hold” rating and a $27.00 price target for the company. Barclays upgraded First Hawaiian from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $26.00 to $28.00 in a research note on Tuesday, November 11th. Cowen reissued a “hold” rating on shares of First Hawaiian in a research note on Tuesday, October 28th. Finally, Zacks Research raised shares of First Hawaiian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, November 12th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, First Hawaiian presently has a consensus rating of “Reduce” and an average target price of $27.75.

First Hawaiian Trading Up 2.2%

Shares of NASDAQ FHB opened at $24.60 on Friday. The company has a market capitalization of $3.04 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.54 and a beta of 0.91. First Hawaiian, Inc. has a 12 month low of $20.32 and a 12 month high of $28.80. The stock has a 50 day moving average of $24.53 and a 200-day moving average of $24.64.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Monday, August 9th. The bank reported $0.44 earnings per share for the quarter. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%.The business had revenue of $129.16 million for the quarter. Analysts predict that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 17th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, November 17th. First Hawaiian’s dividend payout ratio (DPR) is currently 50.73%.

First Hawaiian Company 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.