Golden State Equity Partners Decreases Stock Holdings in First Hawaiian, Inc. $FHB

Golden State Equity Partners lessened its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 17.0% during the 2nd quarter, Holdings Channel reports. The fund owned 13,561 shares of the bank’s stock after selling 2,787 shares during the quarter. Golden State Equity Partners’ holdings in First Hawaiian were worth $338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company increased its position in shares of First Hawaiian by 3.6% during the first quarter. The Manufacturers Life Insurance Company now owns 10,493,396 shares of the bank’s stock worth $256,459,000 after purchasing an additional 360,088 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in First Hawaiian by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,786,438 shares of the bank’s stock worth $141,417,000 after acquiring an additional 122,013 shares during the last quarter. Reinhart Partners LLC. raised its holdings in First Hawaiian by 0.7% in the 2nd quarter. Reinhart Partners LLC. now owns 2,343,300 shares of the bank’s stock valued at $58,489,000 after acquiring an additional 17,419 shares during the last quarter. Northern Trust Corp lifted its stake in shares of First Hawaiian by 2.1% during the 1st quarter. Northern Trust Corp now owns 2,233,354 shares of the bank’s stock worth $54,583,000 after purchasing an additional 45,349 shares during the period. Finally, Raymond James Financial Inc. lifted its position in First Hawaiian by 4.8% during the first quarter. Raymond James Financial Inc. now owns 1,295,267 shares of the bank’s stock worth $31,656,000 after buying an additional 58,793 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Performance

NASDAQ FHB opened at $25.06 on Wednesday. The stock has a market capitalization of $3.12 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 6.14 and a beta of 0.89. The stock has a fifty day moving average of $25.13 and a 200-day moving average of $24.33. First Hawaiian, Inc. has a 52 week low of $20.32 and a 52 week high of $28.80.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. The company had revenue of $217.54 million for the quarter, compared to analysts’ expectations of $214.67 million. During the same period last year, the firm posted $0.48 earnings per share. Equities research analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.2%. First Hawaiian’s dividend payout ratio (DPR) is 53.61%.

Analysts Set New Price Targets

Several brokerages have recently commented on FHB. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Wells Fargo & Company lifted their target price on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Thursday, July 10th. Barclays reissued an “underweight” rating on shares of First Hawaiian in a report on Tuesday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st. Finally, Piper Sandler assumed coverage on shares of First Hawaiian in a report on Thursday, August 21st. They issued a “neutral” rating and a $26.00 target price on the stock. Three research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Strong Sell” and a consensus price target of $27.07.

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.