The Manufacturers Life Insurance Company Buys Shares of 2,135,411 First Hawaiian, Inc. $FHB

The Manufacturers Life Insurance Company purchased a new position in First Hawaiian, Inc. (NASDAQ:FHB) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,135,411 shares of the bank’s stock, valued at approximately $62,568,000. The Manufacturers Life Insurance Company owned approximately 1.75% of First Hawaiian at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in FHB. Cibc World Market Inc. acquired a new stake in shares of First Hawaiian in the second quarter worth about $3,597,000. Sanctuary Advisors LLC bought a new position in First Hawaiian during the 2nd quarter valued at about $502,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of First Hawaiian in the second quarter valued at about $3,263,000. Commerce Bank acquired a new stake in shares of First Hawaiian in the 2nd quarter valued at $722,000. Finally, Quantbot Technologies LP bought a new stake in shares of First Hawaiian during the second quarter worth approximately $1,845,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB opened at $25.78 on Wednesday. First Hawaiian, Inc. has a 52-week low of $22.65 and a 52-week high of $30.58. The company has a market capitalization of $3.14 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.64 and a beta of 0.73. The company has a fifty day moving average of $28.38 and a 200-day moving average of $26.94.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.The company had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. During the same quarter last year, the business posted $0.58 EPS. On average, equities analysts forecast that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Monday, August 17th. First Hawaiian’s payout ratio is 45.22%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on FHB shares. Benchmark restated a “hold” rating on shares of First Hawaiian in a research report on Tuesday, July 14th. Weiss Ratings reissued a “buy (b)” rating on shares of First Hawaiian in a research note on Monday, July 6th. Piper Sandler increased their target price on First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Barclays increased their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $30.25.

About First Hawaiian

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.