American Century Companies Inc. Trims Stake in First Hawaiian, Inc. $FHB

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

American Century Companies Inc. trimmed its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,400,198 shares of the bank's stock after selling 255,846 shares during the period. American Century Companies Inc. owned 1.91% of First Hawaiian worth $58,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd increased its stake in First Hawaiian by 199.7% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank's stock worth $26,000 after buying an additional 705 shares in the last quarter. Headlands Technologies LLC purchased a new stake in First Hawaiian in the 1st quarter worth $44,000. Versant Capital Management Inc increased its stake in First Hawaiian by 65.1% in the 1st quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock worth $76,000 after buying an additional 1,233 shares in the last quarter. Parallel Advisors LLC increased its stake in First Hawaiian by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock worth $109,000 after buying an additional 920 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in First Hawaiian by 36.4% in the 1st quarter. GAMMA Investing LLC now owns 4,943 shares of the bank's stock worth $121,000 after buying an additional 1,319 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Trading Up 0.2%

Shares of NASDAQ:FHB opened at $24.56 on Tuesday. First Hawaiian, Inc. has a 12 month low of $20.32 and a 12 month high of $28.80. The company has a 50-day moving average price of $24.78 and a 200 day moving average price of $24.58. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 5.97 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The bank reported $0.58 EPS for the quarter, beating 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 firm had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. During the same quarter last year, the firm earned $0.48 EPS. As a group, equities analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. First Hawaiian's dividend payout ratio (DPR) is presently 53.61%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FHB. Wells Fargo & Company increased their price target on First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods dropped their price objective on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. increased their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Barclays reissued an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, First Hawaiian presently has a consensus rating of "Hold" and a consensus target price of $27.64.

First Hawaiian Profile

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.

Want to see what other hedge funds are holding FHB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Hawaiian, Inc. (NASDAQ:FHB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.