Norges Bank Purchases New Position in First Hawaiian, Inc. $FHB

Norges Bank purchased a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,592,131 shares of the bank’s stock, valued at approximately $40,281,000. Norges Bank owned approximately 1.29% of First Hawaiian as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in FHB. Eurizon Capital SGR S.p.A. purchased a new stake in shares of First Hawaiian during the fourth quarter valued at $26,000. Northwestern Mutual Wealth Management Co. lifted its stake in First Hawaiian by 2,916.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,050 shares during the period. Global Retirement Partners LLC lifted its stake in First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after acquiring an additional 534 shares during the period. Eagle Bay Advisors LLC bought a new position in First Hawaiian during the 4th quarter valued at about $46,000. Finally, Danske Bank A S bought a new position in First Hawaiian during the 3rd quarter valued at about $47,000. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB opened at $27.54 on Tuesday. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 2.01 and a beta of 0.74. The stock’s 50-day simple moving average is $26.59 and its two-hundred day simple moving average is $26.03. First Hawaiian, Inc. has a 52-week low of $22.65 and a 52-week high of $28.35.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, April 24th. The bank reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. First Hawaiian had a return on equity of 10.39% and a net margin of 24.44%.The business had revenue of $220.35 million for the quarter, compared to analysts’ expectations of $223.59 million. During the same period last year, the firm posted $0.47 earnings per share. As a group, equities analysts forecast that First Hawaiian, Inc. will post 2.33 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.8%. First Hawaiian’s payout ratio is presently 45.61%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings upgraded shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Wells Fargo & Company lifted their target price on shares of First Hawaiian from $24.00 to $26.00 and gave the stock an “underweight” rating in a research report on Monday, March 30th. Stephens set a $28.00 target price on shares of First Hawaiian in a research report on Monday, April 27th. Finally, TD Cowen lifted their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $27.56.

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.