First Trust Advisors LP Reduces Stake in First Hawaiian, Inc. $FHB

First Trust Advisors LP reduced its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 16.5% during the first quarter, Holdings Channel.com reports. The institutional investor owned 615,294 shares of the bank’s stock after selling 121,289 shares during the quarter. First Trust Advisors LP’s holdings in First Hawaiian were worth $15,161,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Eurizon Capital SGR S.p.A. purchased a new stake in First Hawaiian in the fourth quarter worth $26,000. Northwestern Mutual Wealth Management Co. boosted its holdings in First Hawaiian by 2,916.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,050 shares in the last quarter. Global Retirement Partners LLC increased its position in First Hawaiian by 45.7% during the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after purchasing an additional 534 shares during the period. Eagle Bay Advisors LLC purchased a new position in First Hawaiian during the 4th quarter valued at $46,000. Finally, Danske Bank A S bought a new position in First Hawaiian in the 3rd quarter worth $47,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Trading Down 0.3%

FHB opened at $27.92 on Friday. The stock has a fifty day simple moving average of $28.46 and a two-hundred day simple moving average of $26.89. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 12.14, a price-to-earnings-growth ratio of 1.76 and a beta of 0.72. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $30.58.

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. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The firm had revenue of $231.27 million for the quarter, compared to analysts’ expectations of $227.77 million. During the same quarter in the previous year, the business posted $0.58 EPS. On average, analysts predict that First Hawaiian, Inc. will post 2.34 EPS for the current year.

First Hawaiian Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on FHB shares. Piper Sandler raised their target price on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on shares of First Hawaiian from $27.00 to $31.00 and gave the company an “underweight” rating in a research report on Wednesday, July 1st. The Goldman Sachs Group increased their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research note on Tuesday, July 7th. Stephens raised their price objective on shares of First Hawaiian from $28.00 to $32.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, TD Cowen cut their price objective on First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, First Hawaiian currently has a consensus rating of “Hold” and a consensus price target of $30.12.

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.