Federation des caisses Desjardins du Quebec decreased its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 15.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,814 shares of the bank's stock after selling 10,420 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in First Hawaiian were worth $1,413,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Royal Bank of Canada grew its stake in First Hawaiian by 8.6% in the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank's stock worth $4,041,000 after buying an additional 13,071 shares in the last quarter. Graham Capital Management L.P. purchased a new position in First Hawaiian in the first quarter worth $2,031,000. Evergreen Capital Management LLC increased its stake in First Hawaiian by 11.5% in the first quarter. Evergreen Capital Management LLC now owns 41,553 shares of the bank's stock valued at $1,016,000 after acquiring an additional 4,293 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in First Hawaiian by 3.6% during the first quarter. The Manufacturers Life Insurance Company now owns 10,493,396 shares of the bank's stock valued at $256,459,000 after purchasing an additional 360,088 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new stake in First Hawaiian during the first quarter valued at about $202,000. 97.63% of the stock is owned by hedge funds and other institutional investors.
First Hawaiian Price Performance
First Hawaiian stock traded down $0.15 during trading hours on Friday, reaching $25.57. The stock had a trading volume of 757,190 shares, compared to its average volume of 955,618. The company has a fifty day simple moving average of $25.22 and a 200-day simple moving average of $24.39. First Hawaiian, Inc. has a 52 week low of $20.32 and a 52 week high of $28.80. The stock has a market cap of $3.19 billion, a PE ratio of 13.18, a PEG ratio of 6.24 and a beta of 0.89.
First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The bank reported $0.58 EPS for the quarter, beating the consensus estimate of $0.49 by $0.09. The firm had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. During the same period in the prior year, the firm posted $0.48 earnings per share. Research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.
First Hawaiian Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.1%. 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 equities analysts have recently issued reports on the company. Wall Street Zen upgraded First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. boosted their target price on First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Wells Fargo & Company increased their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research report on Thursday, July 10th. Barclays reissued an "underweight" rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Finally, Piper Sandler assumed coverage on shares of First Hawaiian in a research note on Thursday, August 21st. They issued a "neutral" rating and a $26.00 price objective for the company. Three research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Strong Sell" and a consensus target price of $27.07.
View Our Latest Analysis on First Hawaiian
About First Hawaiian
(
Free Report)
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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