Edgestream Partners L.P. Decreases Position in First Hawaiian, Inc. $FHB

Key Points

• Edgestream Partners reduced its First Hawaiian stake by 23.8% in the first quarter, selling 62,488 shares and retaining 199,886 shares worth approximately $4.9 million. Institutional investors collectively own 97.63% of the company.
• Analysts maintain a generally neutral outlook, with a consensus rating of “Hold” and an average price target of $30.12. Recent target changes ranged from $30 to $32, while Goldman Sachs maintained a “Sell” rating.
• First Hawaiian exceeded quarterly expectations, reporting $0.60 in EPS versus a $0.58 estimate and $231.27 million in revenue. The bank also declared a quarterly dividend of $0.26 per share, representing a 3.7% annualized yield.

Edgestream Partners L.P. trimmed its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 23.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,886 shares of the bank's stock after selling 62,488 shares during the period. Edgestream Partners L.P. owned about 0.16% of First Hawaiian worth $4,925,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FHB. Eurizon Capital SGR S.p.A. purchased a new position in shares of First Hawaiian in the fourth quarter worth about $26,000. Northwestern Mutual Wealth Management Co. boosted its holdings in First Hawaiian by 2,916.7% during the 3rd 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 during the period. Global Retirement Partners LLC boosted its holdings 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 acquiring an additional 534 shares during the period. Eagle Bay Advisors LLC bought a new position in First Hawaiian during the 4th quarter worth approximately $46,000. Finally, Danske Bank A S bought a new position in First Hawaiian during the 3rd quarter worth approximately $47,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on FHB shares. The Goldman Sachs Group boosted their price objective on First Hawaiian from $27.00 to $30.00 and gave the company a "sell" rating in a research report on Tuesday, July 7th. TD Cowen cut their target price on shares of First Hawaiian from $32.00 to $31.00 and set a "hold" rating on the stock in a report on Wednesday. Benchmark reaffirmed a "hold" rating on shares of First Hawaiian in a research note on Tuesday, July 14th. Barclays boosted their target price on First Hawaiian from $28.00 to $30.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 7th. Finally, Stephens upped 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. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $30.12.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB opened at $27.79 on Friday. The firm has a market capitalization of $3.38 billion, a P/E ratio of 12.08, a P/E/G ratio of 1.76 and a beta of 0.72. The stock has a 50 day moving average price of $28.46 and a 200-day moving average price of $26.89. First Hawaiian, Inc. has a 52-week low of $22.65 and a 52-week high of $30.58.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The company had revenue of $231.27 million for the quarter, compared to analyst estimates of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same period in the previous year, the company posted $0.58 earnings per share. On average, equities analysts forecast that First Hawaiian, Inc. will post 2.34 EPS for the current fiscal year.

First Hawaiian Announces Dividend

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

First Hawaiian Company 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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