First Hawaiian, Inc. $FHB Stock Sold by Reinhart Partners LLC.

Key Points

• Reinhart Partners reduced its First Hawaiian stake by 25.8%, selling 686,430 shares and retaining 1.97 million shares valued at approximately $48.6 million. Institutional investors collectively own 97.63% of the company.
• First Hawaiian shares opened at $24.69, down 1.1%, with the stock trading below both its 50-day and 200-day moving averages. The bank reported quarterly EPS of $0.60, beating estimates by $0.02, and maintains a 4.2% dividend yield.
• Analyst sentiment remains mixed but centers on a “Hold” rating, with a consensus price target of $29.00. Ratings include two Buys, seven Holds, and two Sells.

Reinhart Partners LLC. trimmed its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 25.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,974,446 shares of the bank's stock after selling 686,430 shares during the period. Reinhart Partners LLC. owned 1.62% of First Hawaiian worth $48,611,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of First Hawaiian during the second quarter worth approximately $483,971,000. Dimensional Fund Advisors LP boosted its position in First Hawaiian by 4.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,693,630 shares of the bank's stock worth $164,927,000 after acquiring an additional 313,362 shares during the period. The Manufacturers Life Insurance Company acquired a new position in First Hawaiian during the 2nd quarter worth $62,568,000. Bank of America Corp DE bought a new position in shares of First Hawaiian in the second quarter worth $53,105,000. Finally, Quantinno Capital Management LP increased its holdings in shares of First Hawaiian by 60.3% during the first quarter. Quantinno Capital Management LP now owns 1,798,815 shares of the bank's stock valued at $44,323,000 after purchasing an additional 676,433 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Trading Down 1.1%

Shares of FHB opened at $24.69 on Friday. The business's 50-day moving average price is $26.04 and its 200 day moving average price is $26.95. The stock has a market capitalization of $3.00 billion, a P/E ratio of 10.73, a P/E/G ratio of 1.29 and a beta of 0.76. First Hawaiian, Inc. has a 1-year low of $22.65 and a 1-year high of $30.58.

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, beating analysts' consensus estimates 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 prior year, the firm earned $0.58 earnings per share. On average, research analysts predict that First Hawaiian, Inc. will post 2.39 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 17th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, August 17th. First Hawaiian's dividend payout ratio is 45.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FHB shares. Wells Fargo & Company decreased their target price on shares of First Hawaiian from $28.00 to $26.00 and set an "underweight" rating for the company in a research report on Wednesday, September 30th. Weiss Ratings reiterated a "buy (b)" rating on shares of First Hawaiian in a report on Friday, October 2nd. Benchmark reissued a "hold" rating on shares of First Hawaiian in a report on Tuesday, July 14th. Wall Street Zen raised First Hawaiian from a "sell" rating to a "hold" rating in a research note on Sunday, September 27th. Finally, Zacks Research cut First Hawaiian from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $29.00.

About First Hawaiian

First Hawaiian, Inc is a bank holding company headquartered in Honolulu, Hawaii, and the parent company of First Hawaiian Bank. Founded in 1858, First Hawaiian Bank is one of the oldest financial institutions in Hawaii and provides banking services to consumers, businesses, and government and institutional customers.

First Hawaiian Bank offers a range of financial products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, credit cards, treasury management, online and mobile banking, and wealth management services.

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