18,849 Shares in First Hawaiian, Inc. $FHB Acquired by Oppenheimer Asset Management Inc.

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

A number of other large investors also recently modified their holdings of FHB. Eurizon Capital SGR S.p.A. purchased a new stake in shares of First Hawaiian during the 4th quarter worth $26,000. Elevation Wealth Partners LLC increased its holdings in First Hawaiian by 378.5% in the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock valued at $27,000 after buying an additional 738 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in First Hawaiian by 2,916.7% in the third 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 in the last quarter. Global Retirement Partners LLC raised its stake in First Hawaiian by 45.7% in the fourth 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 in the last quarter. Finally, Danske Bank A S acquired a new stake in First Hawaiian in the third quarter valued at $47,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on FHB. The Goldman Sachs Group upped their price objective on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, July 7th. Zacks Research lowered First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. TD Cowen decreased their target price on First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Finally, Wall Street Zen downgraded First Hawaiian from a “hold” rating to a “sell” rating in a report on Sunday, August 2nd. 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 stock. According to MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $30.25.

First Hawaiian Trading Down 0.5%

Shares of FHB opened at $27.52 on Tuesday. The company’s 50 day simple moving average is $28.59 and its 200-day simple moving average is $26.95. The firm has a market cap of $3.35 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.74 and a beta of 0.73. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $30.58.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, equities research analysts forecast that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 17th will be paid a $0.26 dividend. The ex-dividend date is Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 3.8%. First Hawaiian’s payout ratio is currently 45.22%.

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.