Cibc World Market Inc. Invests $3.60 Million in First Hawaiian, Inc. $FHB

Cibc World Market Inc. bought a new stake in First Hawaiian, Inc. (NASDAQ:FHB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 122,765 shares of the bank’s stock, valued at approximately $3,597,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Illinois Municipal Retirement Fund lifted its position in First Hawaiian by 0.6% in the first quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock valued at $1,602,000 after purchasing an additional 397 shares during the period. Evolve Private Wealth LLC increased its position in First Hawaiian by 1.6% during the 1st quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock worth $643,000 after purchasing an additional 406 shares during the period. Parallel Advisors LLC raised its stake in shares of First Hawaiian by 11.3% during the 1st quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock worth $127,000 after buying an additional 525 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after buying an additional 534 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in shares of First Hawaiian by 0.4% in the 4th quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock valued at $3,540,000 after buying an additional 568 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Up 0.7%

Shares of FHB stock opened at $25.96 on Thursday. First Hawaiian, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $30.58. The stock has a market cap of $3.16 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.62 and a beta of 0.73. The business has a fifty day simple moving average of $28.34 and a 200-day simple moving average of $26.93.

First Hawaiian (NASDAQ:FHB) last released 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 for the quarter, compared to analyst estimates 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 earned $0.58 EPS. On average, sell-side analysts anticipate that First Hawaiian, Inc. will post 2.34 earnings per share for the current year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 17th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, August 17th. First Hawaiian’s dividend payout ratio is 45.22%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FHB. JPMorgan Chase & Co. upped their price objective on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a report on Wednesday, July 1st. Benchmark restated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Wells Fargo & Company upped their price target on shares of First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. Wall Street Zen cut shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Sunday, August 2nd. Finally, TD Cowen dropped their target price on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average 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.