Sanctuary Advisors LLC Makes New Investment in First Hawaiian, Inc. (NASDAQ:FHB)

Sanctuary Advisors LLC acquired a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 21,093 shares of the bank's stock, valued at approximately $462,000.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake in First Hawaiian by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank's stock valued at $334,927,000 after acquiring an additional 87,304 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in First Hawaiian by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank's stock worth $218,025,000 after buying an additional 942,634 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in First Hawaiian by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank's stock worth $108,057,000 after buying an additional 370,722 shares during the last quarter. American Century Companies Inc. increased its position in First Hawaiian by 6.5% during the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank's stock worth $69,321,000 after buying an additional 203,407 shares during the period. Finally, Reinhart Partners LLC. lifted its stake in First Hawaiian by 0.9% in the second quarter. Reinhart Partners LLC. now owns 2,319,992 shares of the bank's stock valued at $48,163,000 after buying an additional 20,770 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of First Hawaiian from $22.00 to $20.00 and set an "underweight" rating on the stock in a research report on Tuesday, October 1st. Piper Sandler raised their price objective on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a "neutral" rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their target price on shares of First Hawaiian from $21.00 to $24.00 and gave the company a "sell" rating in a report on Monday, July 29th. Keefe, Bruyette & Woods raised their price target on First Hawaiian from $25.00 to $26.00 and gave the stock a "market perform" rating in a report on Monday, July 29th. Finally, Barclays upped their price objective on First Hawaiian from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $24.17.

First Hawaiian Trading Up 0.9 %

Shares of NASDAQ:FHB traded up $0.23 during midday trading on Thursday, hitting $24.67. 489,448 shares of the stock were exchanged, compared to its average volume of 653,824. First Hawaiian, Inc. has a twelve month low of $17.18 and a twelve month high of $26.18. The company has a 50 day moving average price of $23.39 and a 200-day moving average price of $22.25. The stock has a market cap of $3.15 billion, a P/E ratio of 14.05 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its earnings results on Friday, July 26th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.06. The company had revenue of $204.62 million during the quarter, compared to analysts' expectations of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. On average, equities research analysts expect that First Hawaiian, Inc. will post 1.78 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend was Monday, August 19th. First Hawaiian's dividend payout ratio (DPR) is presently 59.77%.

About First Hawaiian

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.