Oppenheimer Asset Management Inc. Makes New Investment in First Hawaiian, Inc. $FHB

Oppenheimer Asset Management Inc. bought a new stake in First Hawaiian, Inc. (NASDAQ:FHB) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 18,849 shares of the bank’s stock, valued at approximately $552,000.

Other institutional investors have also modified their holdings of the company. Elevation Wealth Partners LLC raised its stake in shares of First Hawaiian by 378.5% during the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after purchasing an additional 738 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new position in First Hawaiian in the 4th quarter valued at $26,000. Northwestern Mutual Wealth Management Co. grew its position in First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after buying an additional 1,050 shares during the last quarter. Global Retirement Partners LLC increased its stake in First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after buying an additional 534 shares during the period. Finally, Danske Bank A S purchased a new position in First Hawaiian during the 3rd quarter worth $47,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on FHB shares. Weiss Ratings reissued a “buy (b)” rating on shares of First Hawaiian in a report on Monday, July 6th. Wells Fargo & Company increased their target price on First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. TD Cowen decreased their price target on First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Wednesday, July 29th. Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Finally, JPMorgan Chase & Co. increased their price objective on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, First Hawaiian presently has a consensus rating of “Reduce” and a consensus target price of $30.25.

First Hawaiian Stock Performance

First Hawaiian stock opened at $27.52 on Tuesday. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 11.97, a price-to-earnings-growth ratio of 1.74 and a beta of 0.73. First Hawaiian, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $30.58. The stock’s fifty day moving average is $28.59 and its two-hundred day moving average is $26.95.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $231.27 million during the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same quarter last year, the business posted $0.58 earnings per share. As a group, sell-side analysts forecast that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Shareholders 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 yield of 3.8%. The ex-dividend date is Monday, August 17th. First Hawaiian’s dividend payout ratio (DPR) is 45.22%.

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.