Alliancebernstein L.P. reduced its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 15.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,457,422 shares of the bank's stock after selling 786,789 shares during the period. Alliancebernstein L.P. owned 3.55% of First Hawaiian worth $108,939,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in FHB. Ethic Inc. increased its position in First Hawaiian by 70.8% in the 4th quarter. Ethic Inc. now owns 30,381 shares of the bank's stock valued at $788,000 after buying an additional 12,594 shares in the last quarter. Quantinno Capital Management LP grew its stake in First Hawaiian by 43.1% in the fourth quarter. Quantinno Capital Management LP now owns 97,942 shares of the bank's stock valued at $2,542,000 after acquiring an additional 29,519 shares during the period. Squarepoint Ops LLC grew its stake in First Hawaiian by 41.9% in the fourth quarter. Squarepoint Ops LLC now owns 42,849 shares of the bank's stock valued at $1,112,000 after acquiring an additional 12,646 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Hawaiian by 18.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 393,393 shares of the bank's stock valued at $10,209,000 after acquiring an additional 62,306 shares in the last quarter. Finally, Retirement Planning Group LLC raised its position in shares of First Hawaiian by 2.8% during the fourth quarter. Retirement Planning Group LLC now owns 34,634 shares of the bank's stock worth $899,000 after purchasing an additional 938 shares during the period. Institutional investors own 97.63% of the company's stock.
First Hawaiian Trading Up 0.6%
Shares of FHB traded up $0.15 during trading hours on Thursday, reaching $25.72. 1,232,015 shares of the stock traded hands, compared to its average volume of 942,177. First Hawaiian, Inc. has a 52 week low of $20.32 and a 52 week high of $28.80. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 6.20 and a beta of 0.89. The stock has a fifty day simple moving average of $25.23 and a 200 day simple moving average of $24.40.
First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The bank reported $0.58 earnings per share (EPS) 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 business had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. During the same period in the prior year, the firm posted $0.48 EPS. Analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.
First Hawaiian Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, August 18th. First Hawaiian's dividend payout ratio (DPR) is 53.61%.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on FHB shares. JPMorgan Chase & Co. lifted their price target on shares of First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a research report on Tuesday, July 1st. Wall Street Zen upgraded shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Wells Fargo & Company boosted their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research report on Thursday, July 10th. Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Finally, Piper Sandler began coverage on First Hawaiian in a report on Thursday, August 21st. They set a "neutral" rating and a $26.00 price objective for the company. Three investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Strong Sell" and an average target price of $27.07.
Get Our Latest Analysis on FHB
About First Hawaiian
(
Free Report)
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.
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