First Trust Advisors LP Trims Stock Position in First Hawaiian, Inc. $FHB

Key Points

• First Trust Advisors LP reduced its First Hawaiian stake by 16.5% in the first quarter, selling 121,289 shares and retaining 615,294 shares valued at approximately $15.2 million. Institutional investors collectively own 97.63% of the bank.
• First Hawaiian exceeded quarterly expectations, reporting $0.60 in earnings per share versus the $0.58 consensus estimate and $231.27 million in revenue. Analysts expect full-year EPS of $2.34, while the stock carries a consensus “Hold” rating and a $30.12 price target.
• The bank declared a quarterly dividend of $0.26 per share, equivalent to $1.04 annually and a 3.7% yield. Shares recently opened at $27.92, below the analyst consensus target.

First Trust Advisors LP lessened its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 16.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 615,294 shares of the bank's stock after selling 121,289 shares during the period. First Trust Advisors LP owned about 0.51% of First Hawaiian worth $15,161,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of FHB. Oak Thistle LLC purchased a new stake in First Hawaiian in the fourth quarter worth approximately $1,243,000. SG Americas Securities LLC raised its stake in shares of First Hawaiian by 409.2% during the fourth quarter. SG Americas Securities LLC now owns 89,506 shares of the bank's stock worth $2,265,000 after acquiring an additional 71,927 shares in the last quarter. Ruffer LLP purchased a new position in shares of First Hawaiian during the fourth quarter worth approximately $3,028,000. Vanguard Group Inc. lifted its holdings in shares of First Hawaiian by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 14,457,575 shares of the bank's stock worth $365,777,000 after acquiring an additional 358,632 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of First Hawaiian in the 4th quarter worth approximately $979,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Stock Down 0.3%

Shares of NASDAQ FHB opened at $27.92 on Friday. First Hawaiian, Inc. has a 52 week low of $22.65 and a 52 week high of $30.58. The firm's fifty day moving average is $28.46 and its 200 day moving average is $26.89. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 12.14, a PEG ratio of 1.76 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $231.27 million during the quarter, compared to analysts' expectations of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same quarter in the prior year, the company posted $0.58 EPS. Equities research analysts anticipate that First Hawaiian, Inc. will post 2.34 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, August 17th. First Hawaiian's dividend payout ratio is 45.22%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Zacks Research raised shares of First Hawaiian from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 15th. Wells Fargo & Company boosted their price target on shares of First Hawaiian from $26.00 to $28.00 and gave the stock an "underweight" rating in a research note on Monday, July 6th. Benchmark restated a "hold" rating on shares of First Hawaiian in a research report on Tuesday, July 14th. The Goldman Sachs Group upped their price target on shares of First Hawaiian from $27.00 to $30.00 and gave the company a "sell" rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Hawaiian in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, First Hawaiian currently has a consensus rating of "Hold" and a consensus target price of $30.12.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.

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