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

Bank of New York Mellon Corp cut its holdings in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 19.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 approximately 1.18% of First Hawaiian worth $36,380,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. OneDigital Investment Advisors LLC boosted its holdings in shares of First Hawaiian by 9.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 24,198 shares of the bank's stock valued at $591,000 after purchasing an additional 2,081 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of First Hawaiian by 1.3% in the 1st quarter. Principal Financial Group Inc. now owns 627,695 shares of the bank's stock valued at $15,341,000 after purchasing an additional 7,981 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in shares of First Hawaiian in the 1st quarter valued at $611,000. Illinois Municipal Retirement Fund boosted its holdings in shares of First Hawaiian by 4.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 70,300 shares of the bank's stock valued at $1,718,000 after purchasing an additional 2,678 shares during the last quarter. Finally, Wealthquest Corp acquired a new position in shares of First Hawaiian in the 1st quarter valued at $248,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

First Hawaiian Trading Up 0.3%

NASDAQ:FHB traded up $0.09 during mid-day trading on Friday, hitting $25.62. The stock had a trading volume of 187,292 shares, compared to its average volume of 764,163. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 13.93, a P/E/G ratio of 6.41 and a beta of 0.83. The company has a 50 day simple moving average of $24.48 and a 200-day simple moving average 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 issued its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $211.00 million for the quarter, compared to the consensus estimate of $210.24 million. First Hawaiian had a net margin of 20.36% and a return on equity of 8.99%. First Hawaiian's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.42 EPS. As a group, equities research analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.06%. First Hawaiian's dividend payout ratio (DPR) is 56.52%.

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.