Y Intercept Hong Kong Ltd Increases Position in First Hawaiian, Inc. $FHB

Y Intercept Hong Kong Ltd increased its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 122.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 411,419 shares of the bank’s stock after acquiring an additional 226,747 shares during the period. Y Intercept Hong Kong Ltd owned about 0.33% of First Hawaiian worth $10,137,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in First Hawaiian by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank’s stock worth $365,777,000 after purchasing an additional 358,632 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of First Hawaiian by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,380,268 shares of the bank’s stock valued at $161,423,000 after purchasing an additional 221,492 shares during the last quarter. State Street Corp increased its position in shares of First Hawaiian by 1.3% during the 2nd quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock valued at $146,845,000 after purchasing an additional 77,478 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of First Hawaiian by 68.6% during the 4th quarter. AQR Capital Management LLC now owns 3,720,826 shares of the bank’s stock worth $94,137,000 after purchasing an additional 1,514,465 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of First Hawaiian by 131.9% during the 3rd quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock worth $71,800,000 after purchasing an additional 1,644,752 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FHB shares. Weiss Ratings upgraded shares of First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Piper Sandler lifted their price objective on shares of First Hawaiian from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Stephens set a $28.00 target price on shares of First Hawaiian in a research note on Monday, April 27th. Wells Fargo & Company increased their target price on shares of First Hawaiian from $24.00 to $26.00 and gave the company an “underweight” rating in a research report on Monday, March 30th. Finally, Wall Street Zen lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $28.31.

First Hawaiian Stock Performance

Shares of FHB opened at $29.97 on Friday. The business has a 50-day moving average of $27.61 and a 200 day moving average of $26.48. First Hawaiian, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $30.56. The firm has a market cap of $3.65 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 2.22 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, April 24th. The bank reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $220.35 million for the quarter, compared to the consensus estimate of $223.59 million. First Hawaiian had a net margin of 24.44% and a return on equity of 10.39%. During the same period in the prior year, the firm earned $0.47 earnings per share. As a group, research analysts predict that First Hawaiian, Inc. will post 2.33 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Monday, May 18th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Monday, May 18th. First Hawaiian’s dividend payout ratio is presently 45.61%.

First Hawaiian 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.