Edgestream Partners L.P. Sells 62,488 Shares of First Hawaiian, Inc. $FHB

Edgestream Partners L.P. lessened its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 23.8% during the first quarter, Holdings Channel.com reports. The firm owned 199,886 shares of the bank’s stock after selling 62,488 shares during the quarter. Edgestream Partners L.P.’s holdings in First Hawaiian were worth $4,925,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FHB. Illinois Municipal Retirement Fund lifted its holdings in shares of First Hawaiian by 0.6% during the first quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock valued at $1,602,000 after purchasing an additional 397 shares during the last quarter. Evolve Private Wealth LLC boosted its position in shares of First Hawaiian by 1.6% in the 1st quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock worth $643,000 after purchasing an additional 406 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of First Hawaiian by 11.3% in the 1st quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock worth $127,000 after buying an additional 525 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after buying an additional 534 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of First Hawaiian by 0.4% in the 4th quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock worth $3,540,000 after buying an additional 568 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Trading Down 0.5%

First Hawaiian stock opened at $27.79 on Friday. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 12.08, a PEG ratio of 1.76 and a beta of 0.72. The stock has a fifty day simple moving average of $28.46 and a two-hundred day simple moving average of $26.89. First Hawaiian, Inc. has a 12 month low of $22.65 and a 12 month high of $30.58.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The firm had revenue of $231.27 million during the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same quarter in the previous year, the business earned $0.58 earnings per share. On average, equities research analysts forecast that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.7%. The ex-dividend date is Monday, August 17th. First Hawaiian’s dividend payout ratio (DPR) is presently 45.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FHB shares. Piper Sandler lifted their price objective on First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday. Stephens boosted their target price on First Hawaiian from $28.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday. Barclays increased their target price on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Benchmark restated a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Finally, The Goldman Sachs Group lifted their price target on First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, First Hawaiian currently has a consensus rating of “Hold” and a consensus price target of $30.12.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.