First Hawaiian, Inc. $FHB Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in First Hawaiian, Inc. (NASDAQ:FHB) by 6.1% in the second quarter, Holdings Channel reports. The institutional investor owned 320,125 shares of the bank’s stock after selling 20,803 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First Hawaiian were worth $9,380,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of FHB. Illinois Municipal Retirement Fund boosted its stake in shares of First Hawaiian by 0.6% during the 1st quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock worth $1,602,000 after acquiring an additional 397 shares in the last quarter. Evolve Private Wealth LLC increased its stake 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 valued at $643,000 after purchasing an additional 406 shares in the last quarter. Parallel Advisors LLC raised its holdings in 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 purchasing an additional 525 shares during the period. Global Retirement Partners LLC raised its holdings in 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 purchasing an additional 534 shares during the period. Finally, Royal Bank of Canada boosted its position in First Hawaiian by 0.4% during the fourth quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock worth $3,540,000 after purchasing an additional 568 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Performance

FHB stock opened at $26.07 on Monday. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $30.58. The business’s 50-day moving average is $27.94 and its 200 day moving average is $26.88. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.64 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business 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 prior year, the firm earned $0.58 earnings per share. As a group, equities analysts forecast that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 17th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, August 17th. First Hawaiian’s dividend payout ratio is currently 45.22%.

Wall Street Analysts Forecast Growth

FHB has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a report on Wednesday, July 1st. Stephens raised First Hawaiian from an “equal weight” rating to an “overweight” rating and set a $33.00 target price for the company in a research note on Thursday, August 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. The Goldman Sachs Group lifted their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research note on Tuesday, July 7th. Finally, TD Cowen cut their price target on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a report on Wednesday, July 29th. Two analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, First Hawaiian currently has a consensus rating of “Reduce” and an average target price of $30.25.

First Hawaiian 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.