Empowered Funds LLC Makes New $386,000 Investment in First Hawaiian, Inc. (NASDAQ:FHB)

Empowered Funds LLC acquired a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,865 shares of the bank’s stock, valued at approximately $386,000.

Several other hedge funds have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in First Hawaiian by 1.2% during the third quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock worth $245,963,000 after acquiring an additional 122,599 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in First Hawaiian by 0.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,661,154 shares of the bank’s stock worth $38,456,000 after acquiring an additional 11,543 shares during the last quarter. Raymond James & Associates lifted its position in First Hawaiian by 6.7% during the third quarter. Raymond James & Associates now owns 1,152,785 shares of the bank’s stock worth $26,687,000 after acquiring an additional 72,816 shares during the last quarter. FMR LLC lifted its position in First Hawaiian by 20.3% during 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 last quarter. Finally, Wellington Management Group LLP lifted its position in First Hawaiian by 1.2% during the third quarter. Wellington Management Group LLP now owns 686,701 shares of the bank’s stock worth $15,897,000 after acquiring an additional 7,926 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FHB has been the subject of several research reports. 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 report on Monday, February 3rd. The Goldman Sachs Group raised their target price 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. Wells Fargo & Company raised their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their target price on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Finally, Stephens assumed coverage on shares of First Hawaiian in a report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, First Hawaiian has a consensus rating of “Hold” and a consensus price target of $29.00.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $27.49 on Thursday. The company’s 50 day simple moving average is $26.43 and its 200 day simple moving average is $25.29. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 15.36, a price-to-earnings-growth ratio of 3.26 and a beta of 0.99. First Hawaiian, Inc. has a 1 year low of $19.48 and a 1 year high of $28.80.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data 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 business earned $0.37 EPS. As a group, analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.78%. First Hawaiian’s payout ratio is presently 58.10%.

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.