Arrowstreet Capital Limited Partnership Trims Position in First Hawaiian, Inc. $FHB

Arrowstreet Capital Limited Partnership cut its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 11.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,645,309 shares of the bank's stock after selling 207,991 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.35% of First Hawaiian worth $40,540,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FHB. Oak Thistle LLC bought a new position in shares of First Hawaiian during the fourth quarter valued at $1,243,000. SG Americas Securities LLC lifted its position in First Hawaiian by 409.2% during the fourth quarter. SG Americas Securities LLC now owns 89,506 shares of the bank's stock valued at $2,265,000 after purchasing an additional 71,927 shares during the period. Ruffer LLP purchased a new position in shares of First Hawaiian in the 4th quarter worth $3,028,000. Vanguard Group Inc. increased its position in shares of First Hawaiian by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank's stock valued at $365,777,000 after purchasing an additional 358,632 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in First Hawaiian during the fourth quarter valued at approximately $979,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Price Performance

NASDAQ:FHB opened at $28.09 on Wednesday. The business has a 50 day simple moving average of $28.43 and a 200-day simple moving average of $26.87. First Hawaiian, Inc. has a 1 year low of $22.65 and a 1 year high of $30.58. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.51 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The bank reported $0.60 EPS for the quarter, topping the consensus estimate of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The company had revenue of $231.27 million during the quarter, compared to analyst estimates of $227.77 million. During the same period in the previous year, the firm earned $0.58 earnings per share. As a group, analysts expect that First Hawaiian, Inc. will post 2.38 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Monday, August 17th will be given a $0.26 dividend. 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 is 45.22%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Wall Street Zen raised First Hawaiian from a "sell" rating to a "hold" rating in a research note on Saturday. Piper Sandler increased their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Monday. Zacks Research upgraded First Hawaiian from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 15th. The Goldman Sachs Group lifted their target price on First Hawaiian from $27.00 to $30.00 and gave the stock a "sell" rating in a report on Tuesday, July 7th. Finally, JPMorgan Chase & Co. boosted their target price on First Hawaiian from $27.00 to $31.00 and gave the stock an "underweight" rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $29.38.

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.

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