Geode Capital Management LLC raised its stake in First Hawaiian Inc (NYSE:FHB) by 85.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 436,794 shares of the bank’s stock after buying an additional 200,718 shares during the period. Geode Capital Management LLC’s holdings in First Hawaiian were worth $13,068,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP raised its stake in shares of First Hawaiian by 459.1% in the first quarter. Wellington Management Group LLP now owns 3,546,109 shares of the bank’s stock valued at $106,100,000 after buying an additional 2,911,800 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of First Hawaiian by 149.2% in the first quarter. Vanguard Group Inc. now owns 3,908,897 shares of the bank’s stock valued at $116,954,000 after buying an additional 2,340,324 shares in the last quarter. Neuberger Berman Group LLC raised its stake in shares of First Hawaiian by 212.8% in the first quarter. Neuberger Berman Group LLC now owns 2,931,859 shares of the bank’s stock valued at $87,721,000 after buying an additional 1,994,659 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of First Hawaiian by 49.1% in the first quarter. JPMorgan Chase & Co. now owns 3,050,091 shares of the bank’s stock valued at $91,258,000 after buying an additional 1,004,303 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of First Hawaiian by 32.5% in the first quarter. Victory Capital Management Inc. now owns 1,943,201 shares of the bank’s stock valued at $58,141,000 after buying an additional 477,092 shares in the last quarter.
Shares of First Hawaiian Inc (FHB) opened at 29.50 on Monday. The stock has a market capitalization of $4.12 billion and a PE ratio of 18.59. The company’s 50 day moving average price is $29.67 and its 200 day moving average price is $30.56. First Hawaiian Inc has a 52-week low of $23.00 and a 52-week high of $35.47.
First Hawaiian (NYSE:FHB) last announced its earnings results on Thursday, April 27th. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. First Hawaiian had a return on equity of 9.14% and a net margin of 31.74%. The company had revenue of $129.30 million for the quarter, compared to analyst estimates of $138.54 million. During the same period in the prior year, the company posted $0.47 EPS. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that First Hawaiian Inc will post $1.66 EPS for the current year.
FHB has been the subject of several research reports. Barclays PLC set a $35.00 target price on First Hawaiian and gave the stock a “buy” rating in a research note on Sunday, April 9th. Zacks Investment Research upgraded First Hawaiian from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Thursday, April 6th. Citigroup Inc. decreased their target price on First Hawaiian from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, April 11th. Keefe, Bruyette & Woods restated a “hold” rating and set a $33.00 target price on shares of First Hawaiian in a report on Friday, May 12th. Finally, Bank of America Corporation restated a “neutral” rating and set a $34.00 target price (down previously from $37.00) on shares of First Hawaiian in a report on Thursday, June 22nd. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $30.95.
First Hawaiian Company Profile
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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