Wealthfront Advisers LLC Takes Position in First Hawaiian, Inc. (NASDAQ:FHB)

Wealthfront Advisers LLC purchased a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 58,071 shares of the bank's stock, valued at approximately $1,507,000.

Other hedge funds also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in First Hawaiian during the 4th quarter worth $32,086,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of First Hawaiian during the third quarter worth about $3,736,000. FMR LLC lifted its stake in shares of First Hawaiian by 20.3% in the third quarter. FMR LLC now owns 913,400 shares of the bank's stock worth $21,145,000 after acquiring an additional 154,136 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in First Hawaiian by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank's stock valued at $245,963,000 after acquiring an additional 122,599 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in First Hawaiian by 91.4% in the third quarter. Jane Street Group LLC now owns 176,121 shares of the bank's stock valued at $4,077,000 after acquiring an additional 84,120 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

Wall Street Analysts Forecast Growth

FHB has been the subject of several analyst reports. The Goldman Sachs Group raised their price target on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price on shares of First Hawaiian from $28.00 to $31.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Barclays increased their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Stephens began coverage on First Hawaiian in a research note on Wednesday, November 27th. They issued an "equal weight" rating and a $30.00 price objective on the stock. Finally, Piper Sandler raised their target price on First Hawaiian from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $29.00.

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First Hawaiian Price Performance

Shares of FHB stock traded up $0.20 on Wednesday, reaching $24.66. 966,939 shares of the company were exchanged, compared to its average volume of 654,205. The company has a 50-day moving average of $26.34 and a 200-day moving average of $25.60. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 3.28 and a beta of 0.94. First Hawaiian, Inc. has a one year low of $19.48 and a one year high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same quarter in the prior year, the business earned $0.37 EPS. As a group, sell-side analysts predict that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a yield of 4.22%. First Hawaiian's dividend payout ratio (DPR) is currently 58.10%.

First Hawaiian Company Profile

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.