BlueMountain Capital Management LLC raised its stake in First Hawaiian Inc (NASDAQ:FHB) by 20.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,627 shares of the bank’s stock after purchasing an additional 5,956 shares during the period. BlueMountain Capital Management LLC’s holdings in First Hawaiian were worth $1,005,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. San Francisco Sentry Investment Group CA lifted its holdings in shares of First Hawaiian by 106.4% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 3,570 shares of the bank’s stock worth $104,000 after acquiring an additional 1,840 shares during the period. Quantbot Technologies LP bought a new position in shares of First Hawaiian during the 1st quarter worth about $120,000. SG Americas Securities LLC bought a new position in shares of First Hawaiian during the 2nd quarter worth about $175,000. Xact Kapitalforvaltning AB bought a new position in shares of First Hawaiian during the 1st quarter worth about $215,000. Finally, State of Alaska Department of Revenue lifted its holdings in shares of First Hawaiian by 60.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,530 shares of the bank’s stock worth $218,000 after acquiring an additional 2,830 shares during the period. 50.68% of the stock is owned by hedge funds and other institutional investors.
First Hawaiian stock traded down $0.30 during midday trading on Friday, hitting $26.95. 899,389 shares of the stock were exchanged, compared to its average volume of 878,433. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.78 and a quick ratio of 0.78. First Hawaiian Inc has a 52 week low of $26.56 and a 52 week high of $32.36. The firm has a market capitalization of $3.66 billion, a price-to-earnings ratio of 16.33, a PEG ratio of 1.39 and a beta of 0.50.
First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Thursday, July 26th. The bank reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.01. First Hawaiian had a net margin of 25.59% and a return on equity of 10.13%. The firm had revenue of $141.40 million for the quarter, compared to analyst estimates of $140.18 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The business’s revenue was up 7.7% on a year-over-year basis. As a group, analysts predict that First Hawaiian Inc will post 2.04 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Monday, August 27th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Friday, August 24th. First Hawaiian’s payout ratio is currently 58.18%.
FHB has been the subject of several analyst reports. BidaskClub downgraded shares of First Hawaiian from a “buy” rating to a “hold” rating in a report on Friday, August 31st. Wells Fargo & Co set a $29.00 price target on shares of First Hawaiian and gave the company a “hold” rating in a report on Tuesday. Zacks Investment Research downgraded shares of First Hawaiian from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, ValuEngine cut shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Friday, September 28th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $32.11.
In other First Hawaiian news, Director Paribas Bnp sold 20,000,000 shares of First Hawaiian stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $27.75, for a total value of $555,000,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.10% of the company’s stock.
First Hawaiian Company Profile
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.
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