Illinois Municipal Retirement Fund Decreases Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Illinois Municipal Retirement Fund cut its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 4.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 67,622 shares of the bank’s stock after selling 3,207 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in First Hawaiian were worth $1,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Creative Planning boosted its holdings in shares of First Hawaiian by 6.4% during the 3rd quarter. Creative Planning now owns 23,629 shares of the bank’s stock valued at $547,000 after acquiring an additional 1,424 shares during the last quarter. Blue Trust Inc. boosted its holdings in First Hawaiian by 51.5% in the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after purchasing an additional 625 shares during the last quarter. International Assets Investment Management LLC grew its position in First Hawaiian by 3,218.7% in the 3rd quarter. International Assets Investment Management LLC now owns 31,229 shares of the bank’s stock worth $7,230,000 after purchasing an additional 30,288 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in First Hawaiian by 5.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank’s stock worth $237,000 after purchasing an additional 488 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in First Hawaiian by 58.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 7,020 shares of the bank’s stock valued at $163,000 after buying an additional 2,600 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FHB. Wells Fargo & Company raised their price target on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Piper Sandler raised their target price on First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on shares of First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods raised their price objective on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, Barclays boosted their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.00.

First Hawaiian Stock Up 0.8 %

FHB stock opened at $26.91 on Friday. The business’s 50-day moving average price is $26.48 and its 200-day moving average price is $25.45. The stock has a market cap of $3.44 billion, a P/E ratio of 15.03, a PEG ratio of 3.28 and a beta of 0.99. First Hawaiian, Inc. has a twelve month low of $19.48 and a twelve month high of $28.80.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same period last year, the company earned $0.37 earnings per share. On average, equities research analysts expect that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a yield of 3.86%. First Hawaiian’s payout ratio is presently 58.10%.

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.