Federation des caisses Desjardins du Quebec Reduces Stock Position in First Hawaiian, Inc. $FHB

Key Points

• The Federation des caisses Desjardins du Quebec decreased its stake in First Hawaiian, Inc. by 15.3% in the first quarter, owning 57,814 shares valued at $1.41 million after the sale.
• First Hawaiian recently announced a quarterly dividend of $0.26 per share, representing a 4.0% yield and a payout ratio of 53.61%.
• The bank reported earnings of $0.58 per share for the last quarter, surpassing expectations, with total revenue of $217.54 million.

Federation des caisses Desjardins du Quebec reduced its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 15.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,814 shares of the bank's stock after selling 10,420 shares during the period. Federation des caisses Desjardins du Quebec's holdings in First Hawaiian were worth $1,413,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Illinois Municipal Retirement Fund raised its stake in First Hawaiian by 4.0% in the first quarter. Illinois Municipal Retirement Fund now owns 70,300 shares of the bank's stock worth $1,718,000 after buying an additional 2,678 shares in the last quarter. Principal Financial Group Inc. raised its stake in First Hawaiian by 1.3% in the first quarter. Principal Financial Group Inc. now owns 627,695 shares of the bank's stock worth $15,341,000 after buying an additional 7,981 shares in the last quarter. GAMMA Investing LLC raised its stake in First Hawaiian by 36.4% in the first 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. Wealth Enhancement Advisory Services LLC raised its stake in First Hawaiian by 25.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,864 shares of the bank's stock worth $314,000 after buying an additional 2,617 shares in the last quarter. Finally, M&T Bank Corp raised its stake in First Hawaiian by 11.2% in the first quarter. M&T Bank Corp now owns 18,524 shares of the bank's stock worth $453,000 after buying an additional 1,863 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

First Hawaiian Stock Performance

Shares of NASDAQ FHB opened at $25.73 on Monday. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 13.26, a P/E/G ratio of 6.24 and a beta of 0.89. The company has a 50 day simple moving average of $25.24 and a two-hundred day simple moving average of $24.39. First Hawaiian, Inc. has a fifty-two week low of $20.32 and a fifty-two week high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.The business had revenue of $217.54 million for the quarter, compared to analysts' expectations of $214.67 million. During the same period in the prior year, the firm posted $0.48 EPS. On average, analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.0%. The ex-dividend date was Monday, August 18th. First Hawaiian's dividend payout ratio (DPR) is currently 53.61%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FHB. Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. JPMorgan Chase & Co. increased their price target on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Piper Sandler started coverage on shares of First Hawaiian in a research note on Thursday, August 21st. They set a "neutral" rating and a $26.00 target price for the company. Finally, Wells Fargo & Company raised their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Three analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Strong Sell" and an average target price of $27.07.

First Hawaiian Company 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.

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