Los Angeles Capital Management LLC Purchases 76,710 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Los Angeles Capital Management LLC raised its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 398.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 95,944 shares of the bank’s stock after acquiring an additional 76,710 shares during the quarter. Los Angeles Capital Management LLC owned about 0.08% of First Hawaiian worth $2,221,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of FHB. Raymond James & Associates increased its stake in shares of First Hawaiian by 5.5% in the 2nd quarter. Raymond James & Associates now owns 1,079,969 shares of the bank’s stock valued at $22,420,000 after acquiring an additional 56,445 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of First Hawaiian by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after purchasing an additional 942,634 shares during the period. American Century Companies Inc. boosted its position in shares of First Hawaiian by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after purchasing an additional 203,407 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of First Hawaiian by 100.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the bank’s stock valued at $80,000 after buying an additional 1,943 shares during the period. Finally, Sanctuary Advisors LLC acquired a new position in First Hawaiian during the 2nd quarter worth approximately $462,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FHB has been the subject of a number of research reports. Keefe, Bruyette & Woods raised their price objective on First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. The Goldman Sachs Group upped their price objective on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Wells Fargo & Company upped their target price on shares of First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Finally, Piper Sandler lifted their price target on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $24.33.

First Hawaiian Stock Performance

First Hawaiian stock opened at $27.39 on Thursday. First Hawaiian, Inc. has a fifty-two week low of $18.58 and a fifty-two week high of $28.38. The firm’s 50-day simple moving average is $24.02 and its 200 day simple moving average is $22.79. The stock has a market cap of $3.50 billion, a PE ratio of 15.87 and a beta of 0.96.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.80%. First Hawaiian’s payout ratio is presently 59.43%.

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.