Manulife Investment Management recently announced the acquisition of new stake in First Hawaiian INC (NASDAQ:FHB). The institutional investor has increased its shareholding in the Financial company by 17.77% to 10.35 million shares with purchase of 1.56 million shares. This fresh investment now brings its stake to 8.11% valued currently at $203.4 million. In addition, AllianceBernstein LP raised its holdings by 0.17 million to 4.65 million shares. And Dimensional Fund Advisors LP has lifted its position by 12.23% or 0.42 million shares – to 3.84 million shares.
With over 0.44 million First Hawaiian INC (FHB) shares trading Friday and a closing price of $22.72 on the day, the dollar volume was approximately $10.07 million. The shares have shown a positive half year performance of 27.07% and its price on 12/22/23 gained nearly 0.22%. Currently, there are 127.36M common shares owned by the public and among those 126.66M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 7 analysts who have offered their price forecasts for FHB have a consensus price objective of $21.17. The analysts have set the share’s price value over the next 12 months at a high of $24.00 and a low of $18.00. The average price target is -7.32% below its recent price level and a downside to the estimated low will see the stock lose -26.22% over that period. But an upside of 5.33% will see the stock hit the forecast high price target while median target price for the stock is $22.00.
Insiders at the company have transacted a total of 55 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 219,023 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 48,222 shares.
The top 3 mutual fund holders in First Hawaiian INC are iShares Core S&P Small Cap ETF, Undiscovered Managers Behavioral, and Vanguard Total Stock Market ETF. iShares Core S&P Small Cap ETF owns 8.54 million shares of the company’s stock, all valued at over $167.8 million. The company bought an additional 4128.0 shares recently to bring their total holdings to about 6.69% of the shares outstanding. Undiscovered Managers Behavioral sold 41600.0 shares to see its total holdings shrink to 5.42 million shares valued at over $106.44 million and representing 4.25% of the shares outstanding. Vanguard Total Stock Market ETF bought 7961.0 shares to bring its total holdings to over 4.02 million shares at a value of $79.06 million. Vanguard Total Stock Market ETF now owns shares totaling to 3.15% of the shares outstanding.
Shares of First Hawaiian INC (NASDAQ: FHB) opened at $22.80, up $0.13 from a prior closing price of $22.67. However, the script later moved the day high at 23.06, up 0.22%. The company’s stock has a 5-day price change of 0.53% and 24.70% over the past three months. FHB shares are trading -12.75% year to date (YTD), with the 12-month market performance down to -10.90% lower. It has a 12-month low price of $15.08 and touched a high of $28.28 over the same period. FHB has an average intraday trading volume of 859.51K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.96%, 16.71%, and 18.62% respectively.
Institutional ownership of First Hawaiian INC (NASDAQ: FHB) shares accounts for 100.28% of the company’s 127.36M shares outstanding. Mutual fund holders own 34.06%, while other institutional holders and individual stakeholders account for 67.25% and 20.53% respectively.
It has a market capitalization of $2.90B and a beta (3y monthly) value of 1.05. The stock’s trailing 12-month PE ratio is 10.88, while the earnings-per-share (ttm) stands at $2.09. The company has a PEG of 13.60 and the debt-to-equity ratio at 0.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.67% over the week and 2.81% over the month.
Analysts forecast that First Hawaiian INC (FHB) will achieve an EPS of $0.45 for the current quarter, $0.42 for the next quarter and $1.72 for 2024. The lowest estimate earnings-per-share for the quarter is $0.44 while analysts give the company a high EPS estimate of $0.46. Comparatively, EPS for the current quarter was $0.62 a year ago. Earnings per share for the fiscal year are expected to decrease by -7.14%, and -10.96% over the next financial year. EPS should shrink at an annualized rate of 0.80% over the next five years, compared to 9.56% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 7 brokerage firm advisors rate First Hawaiian INC (FHB) as a “Hold” at a consensus score of 3.43. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 5 of the 7 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the FHB, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on December 13, 2022, with the firm’s price target at $26.
