53,973 Shares in First Hawaiian, Inc. $FHB Acquired by Empowered Funds LLC

Empowered Funds LLC purchased a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 53,973 shares of the bank’s stock, valued at approximately $1,581,000.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of First Hawaiian in the 2nd quarter valued at $483,971,000. Vanguard Group Inc. grew its stake in shares of First Hawaiian by 2.5% during 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 in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of First Hawaiian by 4.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank’s stock worth $164,927,000 after purchasing an additional 313,362 shares in the last quarter. State Street Corp increased its holdings in First Hawaiian by 1.3% in the second quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock valued at $146,845,000 after buying an additional 77,478 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in First Hawaiian by 68.6% in the fourth quarter. AQR Capital Management LLC now owns 3,720,826 shares of the bank’s stock valued at $94,137,000 after buying an additional 1,514,465 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Up 1.0%

Shares of FHB stock opened at $26.00 on Friday. The stock’s 50-day moving average price is $28.01 and its 200 day moving average price is $26.88. The stock has a market capitalization of $3.16 billion, a PE ratio of 11.30, a price-to-earnings-growth ratio of 1.62 and a beta of 0.72. First Hawaiian, Inc. has a 52-week low of $22.65 and a 52-week high of $30.58.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The company had revenue of $231.27 million during the quarter, compared to analysts’ expectations of $227.77 million. During the same period last year, the firm earned $0.58 EPS. Analysts expect that First Hawaiian, Inc. will post 2.34 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Wells Fargo & Company increased their price objective on First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Stephens upgraded First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research note on Thursday, August 6th. Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. Barclays upped their price target on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Tuesday, July 7th. Finally, Piper Sandler raised their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $30.25.

About First Hawaiian

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.