Alliancebernstein L.P. Boosts Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Alliancebernstein L.P. grew its position in First Hawaiian, Inc. (NASDAQ:FHB) by 19.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,244,211 shares of the bank’s stock after purchasing an additional 864,420 shares during the quarter. Alliancebernstein L.P.’s holdings in First Hawaiian were worth $136,087,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its stake in First Hawaiian by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,670,929 shares of the bank’s stock valued at $43,361,000 after purchasing an additional 9,775 shares during the last quarter. Norges Bank purchased a new stake in First Hawaiian in the fourth quarter valued at approximately $36,266,000. Raymond James Financial Inc. acquired a new position in First Hawaiian in the 4th quarter worth approximately $32,086,000. FMR LLC lifted its stake in First Hawaiian by 20.3% during the 3rd quarter. FMR LLC now owns 913,400 shares of the bank’s stock valued at $21,145,000 after acquiring an additional 154,136 shares during the period. Finally, Wellington Management Group LLP lifted its stake in First Hawaiian by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 699,224 shares of the bank’s stock valued at $18,145,000 after acquiring an additional 12,523 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

First Hawaiian Trading Down 0.9 %

Shares of FHB stock opened at $24.23 on Wednesday. The company has a market capitalization of $3.06 billion, a P/E ratio of 13.54, a P/E/G ratio of 3.28 and a beta of 0.94. First Hawaiian, Inc. has a 12-month low of $19.48 and a 12-month high of $28.80. The business’s 50 day moving average is $26.13 and its two-hundred day moving average is $25.68.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company posted $0.37 EPS. On average, research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.04 annualized dividend and a dividend yield of 4.29%. First Hawaiian’s dividend payout ratio (DPR) is presently 58.10%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on FHB shares. 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 research report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Piper Sandler raised their target price on First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Wells Fargo & Company lifted their price target on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Finally, Barclays raised their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $29.00.

First Hawaiian 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.