Dimensional Fund Advisors LP Increases Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Posted by Defense World Staff on May 25th, 2023

Dimensional Fund Advisors LP increased its position in First Hawaiian, Inc. (NASDAQ:FHB – Get Rating) by 1.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,978,237 shares of the bank’s stock after acquiring an additional 55,639 shares during the quarter. Dimensional Fund Advisors LP owned about 2.33% of First Hawaiian worth $77,552,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. grew its holdings in First Hawaiian by 53.8% during the 4th quarter. Ronald Blue Trust Inc. now owns 1,280 shares of the bank’s stock valued at $32,000 after buying an additional 448 shares in the last quarter. Parallel Advisors LLC grew its holdings in First Hawaiian by 40.5% during the 4th quarter. Parallel Advisors LLC now owns 1,405 shares of the bank’s stock valued at $37,000 after buying an additional 405 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in First Hawaiian by 847.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 2,008 shares of the bank’s stock valued at $49,000 after buying an additional 1,796 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in First Hawaiian during the 2nd quarter valued at about $50,000. Finally, FourThought Financial LLC boosted its position in shares of First Hawaiian by 31.3% during the 3rd quarter. FourThought Financial LLC now owns 2,406 shares of the bank’s stock valued at $59,000 after acquiring an additional 574 shares during the last quarter. Hedge funds and other institutional investors own 97.77% of the company’s stock.

Analysts Set New Price Targets

FHB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods dropped their price target on First Hawaiian from $32.00 to $26.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. Piper Sandler dropped their price target on First Hawaiian from $22.00 to $21.00 in a research report on Monday, May 1st. StockNews.com initiated coverage on First Hawaiian in a research report on Thursday, May 18th. They set a “sell” rating for the company. The Goldman Sachs Group dropped their price target on First Hawaiian from $27.00 to $22.00 and set a “sell” rating for the company in a research report on Thursday, March 30th. Finally, JPMorgan Chase & Co. dropped their target price on First Hawaiian from $27.00 to $21.00 in a research report on Thursday, April 6th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat.com, First Hawaiian currently has a consensus rating of “Hold” and an average target price of $23.67.

First Hawaiian Stock Performance

NASDAQ:FHB opened at $17.12 on Thursday. The business has a 50 day moving average of $19.11 and a 200 day moving average of $23.59. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 0.27 and a beta of 1.02. First Hawaiian, Inc. has a 1-year low of $15.08 and a 1-year high of $28.28. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.70 and a quick ratio of 0.70.

First Hawaiian (NASDAQ:FHB – Get Rating) last released its quarterly earnings data on Friday, April 28th. The bank reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). First Hawaiian had a net margin of 29.63% and a return on equity of 12.14%. The company had revenue of $216.27 million for the quarter, compared to analysts’ expectations of $190.28 million. During the same period last year, the company posted $0.45 EPS. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. On average, sell-side analysts predict that First Hawaiian, Inc. will post 2.03 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Monday, May 22nd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date of this dividend is Friday, May 19th. First Hawaiian’s payout ratio is 48.60%.

Insider Activity

In other First Hawaiian news, CEO Robert S. Harrison acquired 23,500 shares of the business’s stock in a transaction dated Thursday, March 16th. The shares were purchased at an average cost of $21.61 per share, for a total transaction of $507,835.00. Following the transaction, the chief executive officer now owns 350,449 shares in the company, valued at $7,573,202.89. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.52% of the company’s stock.

First Hawaiian Company Profile

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First Hawaiian, Inc is a bank holding company engaged in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary, First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other.