Man Group plc Makes New Investment in First Hawaiian, Inc. $FHB

Man Group plc acquired a new stake in First Hawaiian, Inc. (NASDAQ:FHB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 231,584 shares of the bank’s stock, valued at approximately $6,785,000.

A number of other hedge funds also recently made changes to their positions in FHB. Royal Bank of Canada lifted its position in shares of First Hawaiian by 8.6% during the first quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock worth $4,041,000 after purchasing an additional 13,071 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in First Hawaiian by 9.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock worth $246,000 after buying an additional 856 shares during the period. United Services Automobile Association purchased a new stake in First Hawaiian during the 1st quarter worth $201,000. Empowered Funds LLC lifted its holdings in First Hawaiian by 10.4% in the 1st quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after buying an additional 1,542 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in First Hawaiian by 8.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock worth $10,389,000 after buying an additional 31,686 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Down 0.1%

Shares of NASDAQ FHB opened at $25.79 on Friday. The stock’s 50 day moving average price is $28.26 and its two-hundred day moving average price is $26.91. First Hawaiian, Inc. has a 52-week low of $22.65 and a 52-week high of $30.58. The stock has a market capitalization of $3.14 billion, a P/E ratio of 11.21, a PEG ratio of 1.63 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $227.77 million. During the same quarter last year, the firm earned $0.58 EPS. On average, analysts anticipate that First Hawaiian, Inc. will post 2.34 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, August 17th. First Hawaiian’s dividend payout ratio is 45.22%.

Wall Street Analysts Forecast Growth

FHB has been the subject of several recent analyst reports. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday. Barclays boosted their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Stephens upgraded First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 price objective for the company in a research note on Thursday, August 6th. Benchmark restated a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Finally, Zacks Research lowered First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, First Hawaiian presently has a consensus rating of “Reduce” and a consensus price target of $30.25.

First Hawaiian Company Profile

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.