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New Age Alpha Advisors LLC Sells 13,610 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

First Hawaiian logo with Finance background

Key Points

  • New Age Alpha Advisors LLC has reduced its stake in First Hawaiian, Inc. by 56.4% during the first quarter, now holding 10,523 shares valued at approximately $257,000.
  • First Hawaiian reported $0.58 earnings per share for the quarter, exceeding analysts' estimates of $0.49, with a revenue of $217.54 million.
  • The company has announced a quarterly dividend of $0.26, resulting in an annualized yield of 4.3% for investors of record as of August 18th.
  • Want stock alerts on First Hawaiian? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

New Age Alpha Advisors LLC decreased its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 56.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,523 shares of the bank's stock after selling 13,610 shares during the quarter. New Age Alpha Advisors LLC's holdings in First Hawaiian were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of FHB. PNC Financial Services Group Inc. lifted its stake in First Hawaiian by 12.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,511 shares of the bank's stock valued at $208,000 after acquiring an additional 946 shares in the last quarter. Wealthquest Corp bought a new position in First Hawaiian during the 1st quarter valued at $248,000. Vestcor Inc bought a new position in First Hawaiian during the 1st quarter valued at $219,000. Mackenzie Financial Corp bought a new position in First Hawaiian during the 1st quarter valued at $448,000. Finally, LPL Financial LLC raised its stake in shares of First Hawaiian by 16.4% during the 1st quarter. LPL Financial LLC now owns 199,821 shares of the bank's stock worth $4,884,000 after purchasing an additional 28,134 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Trading Up 1.9%

Shares of NASDAQ FHB traded up $0.46 during midday trading on Wednesday, hitting $25.03. 876,272 shares of the company's stock were exchanged, compared to its average volume of 894,153. The business's fifty day moving average price is $24.71 and its two-hundred day moving average price is $24.66. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 5.81 and a beta of 0.84. First Hawaiian, Inc. has a 12-month low of $20.32 and a 12-month high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.09. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%. The company had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. During the same quarter in the previous year, the company posted $0.48 EPS. Equities analysts expect 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 will be paid on Friday, August 29th. Investors of record on Monday, August 18th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, August 18th. First Hawaiian's dividend payout ratio is currently 53.61%.

Wall Street Analysts Forecast Growth

FHB has been the topic of a number of research reports. Wall Street Zen upgraded First Hawaiian from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Wells Fargo & Company boosted 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. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods reduced their target price on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Four investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $27.64.

Get Our Latest Research Report on FHB

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.

See Also

Institutional Ownership by Quarter for First Hawaiian (NASDAQ:FHB)

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