First Hawaiian, Inc. (NASDAQ:FHB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,488,535 shares of the bank's stock after selling 359,551 shares during the quarter. Bank of New York Mellon Corp owned about 1.18% of First Hawaiian worth $36,380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. SummerHaven Investment Management LLC raised its position in First Hawaiian by 1.4% during the 1st quarter. SummerHaven Investment Management LLC now owns 36,493 shares of the bank's stock worth $892,000 after buying an additional 521 shares during the last quarter. Covestor Ltd increased its stake in shares of First Hawaiian by 8.1% in the fourth quarter. Covestor Ltd now owns 7,226 shares of the bank's stock worth $188,000 after acquiring an additional 539 shares during the period. Evergreen Capital Management LLC raised its holdings in shares of First Hawaiian by 1.8% during the fourth quarter. Evergreen Capital Management LLC now owns 37,260 shares of the bank's stock worth $967,000 after purchasing an additional 649 shares during the last quarter. HighPoint Advisor Group LLC lifted its position in First Hawaiian by 6.8% during the fourth quarter. HighPoint Advisor Group LLC now owns 12,086 shares of the bank's stock valued at $335,000 after purchasing an additional 765 shares during the period. Finally, Parallel Advisors LLC lifted its position in First Hawaiian by 26.0% during the first quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock valued at $109,000 after purchasing an additional 920 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Stock Down 3.8%

Shares of First Hawaiian stock traded down $0.99 on Tuesday, reaching $25.05. The company's stock had a trading volume of 1,263,458 shares, compared to its average volume of 769,923. The company has a market capitalization of $3.15 billion, a P/E ratio of 13.61, a PEG ratio of 4.67 and a beta of 0.83. The stock has a 50-day moving average price of $24.36 and a 200-day moving average price of $24.80. First Hawaiian, Inc. has a 52-week low of $20.32 and a 52-week high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. First Hawaiian had a net margin of 20.36% and a return on equity of 8.99%. The business had revenue of $211.00 million for the quarter, compared to analyst estimates of $210.24 million. During the same quarter last year, the business earned $0.42 earnings per share. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. Sell-side analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date of this dividend was Monday, May 19th. First Hawaiian's payout ratio is 56.52%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FHB. Wells Fargo & Company lifted their price objective on First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods reduced their price target on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Finally, Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $27.64.

First Hawaiian 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.