The Vanguard Group, Inc. has recently announced that it has increased stake in First Hawaiian Inc. (NASDAQ:FHB) by 0.79%. After grabbing 14.49 million shares, the institutional investor is now in possession of 0.11 million shares of the Financial Company. The new investment brought the stake of investor firm to 11.38% having worth around $396.35 million. Moreover, Manulife Investment Management increased its share by 0.31 million to have a control over 7.45 million shares. And Fuller & Thaler Asset Management, raised its holdings to 0.22 million shares by acquiring 3.51 million shares or 2.76% of the stake.
First Hawaiian Inc. (FHB) concluded trading on 03/15/23 at a closing price of $20.94, with 2.31 million shares of worth about $48.39 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -18.17% during that period and on Wednesday the price saw a loss of about -1.09%. Currently the company’s common shares owned by public are about 127.36M shares, out of which, 126.89M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 8 analysts are covering the FHB stock and their offered price forecasts bring an average price target of $27.57. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $32.00 and could fall to a lowest price of $24.00. The stock’s current price level is 24.32% above of average price target set by the analysts, while a rise to estimated low would result in gain of 12.75% for the stock. However, touching the estimated high of $32.00 would mean a gain of 34.56% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 41 times over the past 12 months. They bought 185,842 shares in 25 of the transactions. In 16 selling transactions, insiders dumped 33,013 shares.
iShares Core S&P Small Cap ETF, American Century Mid Cap Value Fu, and Vanguard Total Stock Market Index are the top 3 mutual funds which are holding stakes in First Hawaiian Inc. iShares Core S&P Small Cap ETF is currently holding 9.71 million shares of worth totaling $265.62 million. The company recently came buying 20098.0 shares which brought its stake up to 7.63% of the company’s outstanding shares. American Century Mid Cap Value Fu bought 0.21 million shares, after which its hold over company’s outstanding shares expand to 4.28%, leaving 5.45 million shares with the mutual fund that have a worth of about $149.03 million. Vanguard Total Stock Market Index, after buying 3.9 million shares, have now control over 3.06% of the stake in the company. It holds 4794.0 shares of worth $106.62 million.
First Hawaiian Inc. (NASDAQ: FHB) started trading at $20.00, below -$1.17 from concluding price of the previous day. However, the stock later moved at a day high price of 21.40, or with a loss of -1.09%. Stock saw a price change of -17.82% in past 5 days and over the past one month there was a price change of -23.44%. Year-to-date (YTD), FHB shares are showing a performance of -19.59% which decreased to -25.67% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $19.68 but also hit the highest price of $29.53 during that period. The average intraday trading volume for First Hawaiian Inc. shares is 629.07K. The stock is currently trading -18.90% below its 20-day simple moving average (SMA20), while that difference is down -20.35% for SMA50 and it goes to -17.76% lower than SMA200.
The Vanguard Group, Inc. acquired 14.49 million shares of First Hawaiian Inc. having value of about $396.35 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.11 million shares in the company valued at close to $2387160.0, or have control over 0.79% stake in the company. Holding of mutual funds in the company is about 33.88% while other institutional holders and individual stake holders have control over 65.93% and 20.52% of the stake respectively.
The stock has a current market capitalization of $2.77B and its 3Y-monthly beta is at 1.07. PE ratio of stock for trailing 12 months is 10.09, while it has posted earnings per share of $2.08 in the same period. Its PEG reads 12.61 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FHB, volatility over the week remained 10.14% while standing at 3.87% over the month.
Analysts are in expectations that First Hawaiian Inc. (FHB) stock would likely to be making an EPS of $0.56 in the current quarter, while forecast for next quarter EPS is $0.57 and it is $2.26 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.53 which is $0.59 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.45 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1.20% while it is estimated to decrease by -1.44% in next year. EPS is likely to shrink at an annualized rate of 0.80% for next 5-years, compared to annual growth of 4.60% made by the stock over the past 5-years.
Analysts at 8 brokerage firms have issued recommendations for the First Hawaiian Inc. (FHB)’s stock and average of those rates the stock at a “Hold” and assign it a score of 3.20. Out of those 8 Wall Street analysts, 0 recommended a “Buy” rating, while 6 were in favor recommending the stock as a “Hold” and 1 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on December 13, 2022 offering a Neutral rating for the stock and assigned a target price of $26 to it. Coverage by Keefe Bruyette stated First Hawaiian Inc. (FHB) stock as a Mkt perform in their note to investors on April 25, 2022, suggesting a price target of $34 for the stock. On January 24, 2022, Compass Point Downgrade their recommendations, while on October 08, 2021, BofA Securities Downgrade their ratings for the stock with a price target of $33. Stock get a Mkt perform rating from Raymond James on July 08, 2021.
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