Fmr LLC Buys 4,916,096 Shares of First Hawaiian Inc (FHB)

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Fmr LLC boosted its stake in shares of First Hawaiian Inc (NASDAQ:FHB) by 117.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,109,111 shares of the bank’s stock after purchasing an additional 4,916,096 shares during the quarter. Fmr LLC owned approximately 0.07% of First Hawaiian worth $264,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Strs Ohio purchased a new position in shares of First Hawaiian in the 2nd quarter valued at about $276,000. CIBC Asset Management Inc increased its holdings in shares of First Hawaiian by 43.7% in the 2nd quarter. CIBC Asset Management Inc now owns 55,893 shares of the bank’s stock valued at $1,622,000 after acquiring an additional 16,995 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of First Hawaiian in the 2nd quarter valued at about $175,000. Yorktown Management & Research Co Inc purchased a new position in shares of First Hawaiian in the 2nd quarter valued at about $1,596,000. Finally, BlackRock Inc. increased its holdings in shares of First Hawaiian by 97.4% in the 2nd quarter. BlackRock Inc. now owns 4,679,481 shares of the bank’s stock valued at $135,798,000 after acquiring an additional 2,309,230 shares during the last quarter. Institutional investors own 51.00% of the company’s stock.

In related news, Director Paribas Bnp sold 20,000,000 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $28.70, for a total transaction of $574,000,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.10% of the company’s stock.

NASDAQ:FHB opened at $24.78 on Thursday. The company has a market cap of $3.17 billion, a P/E ratio of 15.02, a PEG ratio of 1.70 and a beta of 0.50. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.08. First Hawaiian Inc has a 52-week low of $22.91 and a 52-week high of $32.36.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Monday, November 26th will be paid a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $0.96 dividend on an annualized basis and a yield of 3.87%. First Hawaiian’s dividend payout ratio is presently 58.18%.

A number of research firms recently issued reports on FHB. BidaskClub upgraded First Hawaiian from a “hold” rating to a “buy” rating in a research note on Thursday, August 23rd. Zacks Investment Research downgraded First Hawaiian from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. ValuEngine downgraded First Hawaiian from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Wells Fargo & Co set a $29.00 price target on First Hawaiian and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Finally, Citigroup dropped their price target on First Hawaiian from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $31.44.

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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Institutional Ownership by Quarter for First Hawaiian (NASDAQ:FHB)

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