Ameriprise Financial Inc. Cuts Position in First Hawaiian, Inc. (NASDAQ:FHB)

Ameriprise Financial Inc. lowered its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 6.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 409,863 shares of the bank's stock after selling 28,319 shares during the period. Ameriprise Financial Inc. owned 0.32% of First Hawaiian worth $10,636,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in First Hawaiian in the 4th quarter worth approximately $36,000. Blue Trust Inc. grew its position in First Hawaiian by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank's stock worth $71,000 after acquiring an additional 904 shares in the last quarter. Global Retirement Partners LLC grew its position in First Hawaiian by 32.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank's stock worth $74,000 after acquiring an additional 693 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in First Hawaiian by 280.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank's stock valued at $103,000 after acquiring an additional 2,934 shares during the last quarter. Finally, KBC Group NV lifted its stake in First Hawaiian by 72.1% during the fourth quarter. KBC Group NV now owns 6,154 shares of the bank's stock worth $160,000 after purchasing an additional 2,579 shares during the last quarter. Institutional investors own 97.63% of the company's stock.

First Hawaiian Price Performance

FHB traded down $0.18 during midday trading on Friday, reaching $23.42. 405,579 shares of the company's stock traded hands, compared to its average volume of 735,385. First Hawaiian, Inc. has a 52 week low of $19.48 and a 52 week high of $28.80. The firm has a fifty day moving average of $23.33 and a two-hundred day moving average of $25.42. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 13.08, a P/E/G ratio of 3.28 and a beta of 0.82.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The company had revenue of $211.00 million during the quarter, compared to the consensus estimate of $210.24 million. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 earnings per share. Sell-side analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Monday, May 19th. First Hawaiian's dividend payout ratio is currently 56.52%.

Wall Street Analyst Weigh In

FHB has been the topic of several recent research reports. Piper Sandler increased their price objective on First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Wells Fargo & Company cut their target price on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating for the company in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods decreased their price target on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group boosted their price objective on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of First Hawaiian from $26.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat, First Hawaiian presently has an average rating of "Hold" and a consensus target price of $27.29.

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.