Renaissance Technologies LLC Grows Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Renaissance Technologies LLC raised its position in First Hawaiian, Inc. (NASDAQ:FHB) by 30.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 513,000 shares of the bank’s stock after purchasing an additional 120,400 shares during the period. Renaissance Technologies LLC’s holdings in First Hawaiian were worth $10,650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Whittier Trust Co. lifted its holdings in First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after purchasing an additional 507 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of First Hawaiian by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 56,400 shares of the bank’s stock valued at $1,289,000 after acquiring an additional 550 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of First Hawaiian by 8.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank’s stock valued at $163,000 after acquiring an additional 550 shares during the last quarter. Abich Financial Wealth Management LLC increased its stake in shares of First Hawaiian by 48.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock valued at $44,000 after acquiring an additional 652 shares during the last quarter. Finally, Arizona State Retirement System increased its stake in shares of First Hawaiian by 1.9% during the 2nd quarter. Arizona State Retirement System now owns 35,729 shares of the bank’s stock valued at $742,000 after acquiring an additional 658 shares during the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company upped their price objective on shares of First Hawaiian from $18.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods upped their price objective on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. downgraded shares of First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price objective for the company. in a research note on Monday, July 29th. Finally, Barclays upped their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $24.67.

First Hawaiian Stock Performance

FHB opened at $23.74 on Tuesday. The firm has a 50 day moving average price of $23.85 and a 200 day moving average price of $22.06. The company has a market cap of $3.03 billion, a PE ratio of 13.64 and a beta of 0.98. First Hawaiian, Inc. has a 1 year low of $17.18 and a 1 year high of $26.18.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, July 26th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The firm had revenue of $204.62 million during the quarter, compared to the consensus estimate of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. On average, sell-side analysts predict that First Hawaiian, Inc. will post 1.79 earnings per share for the current year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date was Monday, August 19th. First Hawaiian’s dividend payout ratio is presently 59.77%.

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.