The Manufacturers Life Insurance Company Sells 442,492 Shares of First Hawaiian, Inc. $FHB

The Manufacturers Life Insurance Company cut its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 4.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,050,904 shares of the bank’s stock after selling 442,492 shares during the period. The Manufacturers Life Insurance Company owned about 8.06% of First Hawaiian worth $250,871,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. State Street Corp grew its position in First Hawaiian by 1.3% during the 2nd quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock worth $146,845,000 after acquiring an additional 77,478 shares during the last quarter. Dimensional Fund Advisors LP raised its position in First Hawaiian by 2.2% in the first quarter. Dimensional Fund Advisors LP now owns 5,786,438 shares of the bank’s stock valued at $141,417,000 after purchasing an additional 122,013 shares during the last quarter. Reinhart Partners LLC. boosted its stake in shares of First Hawaiian by 0.7% during the second quarter. Reinhart Partners LLC. now owns 2,343,300 shares of the bank’s stock valued at $58,489,000 after purchasing an additional 17,419 shares in the last quarter. Northern Trust Corp boosted its stake in shares of First Hawaiian by 2.1% during the first quarter. Northern Trust Corp now owns 2,233,354 shares of the bank’s stock valued at $54,583,000 after purchasing an additional 45,349 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of First Hawaiian during the second quarter worth about $35,362,000. 97.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on FHB. TD Cowen started coverage on shares of First Hawaiian in a research report on Thursday, September 25th. They set a “hold” rating and a $27.00 target price on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First Hawaiian in a research note on Monday. JPMorgan Chase & Co. lifted their price target on shares of First Hawaiian from $26.00 to $27.00 and gave the stock an “underweight” rating in a report on Monday, October 27th. Keefe, Bruyette & Woods increased their price objective on First Hawaiian from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, October 28th. Finally, Barclays raised First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $26.00 to $28.00 in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, First Hawaiian has a consensus rating of “Hold” and an average target price of $27.43.

First Hawaiian Stock Up 3.5%

FHB stock opened at $26.06 on Thursday. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.61 and a beta of 0.74. First Hawaiian, Inc. has a 12-month low of $20.32 and a 12-month high of $28.28. The company’s fifty day simple moving average is $24.54 and its 200 day simple moving average is $24.76.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Monday, August 9th. The bank reported $0.44 EPS for the quarter. The business had revenue of $129.16 million during the quarter. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%. Research analysts expect that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Monday, November 17th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, November 17th. First Hawaiian’s dividend payout ratio is 50.73%.

Insider Activity

In other news, insider Alan Arizumi sold 36,460 shares of the firm’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.35, for a total value of $924,261.00. Following the completion of the sale, the insider directly owned 37,508 shares in the company, valued at $950,827.80. This trade represents a 49.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.61% of the stock is owned by company insiders.

About First Hawaiian

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.