Fuller & Thaler Asset Management Inc. Sells 521,559 Shares of First Hawaiian, Inc. $FHB

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in First Hawaiian, Inc. by 9.0% during the first quarter, selling 521,559 shares and retaining ownership of approximately 4.21% of the bank's stock valued at $129.22 million.
• First Hawaiian recently announced a quarterly dividend of $0.26 per share, which will be paid on August 29th, reflecting an annualized yield of 4.2%.
• The bank's stock is currently priced at $24.50 with analysts expecting earnings per share of 1.95 for the current year, while the consensus target price for the stock is $27.64.

Fuller & Thaler Asset Management Inc. trimmed its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 5,287,303 shares of the bank's stock after selling 521,559 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 4.21% of First Hawaiian worth $129,222,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FHB. Nuveen LLC purchased a new stake in First Hawaiian during the 1st quarter valued at about $16,248,000. Balyasny Asset Management L.P. boosted its holdings in shares of First Hawaiian by 427.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 617,717 shares of the bank's stock valued at $16,030,000 after acquiring an additional 500,535 shares during the last quarter. Reinhart Partners LLC. boosted its holdings in shares of First Hawaiian by 15.1% during the 1st quarter. Reinhart Partners LLC. now owns 2,325,881 shares of the bank's stock valued at $56,845,000 after acquiring an additional 305,439 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of First Hawaiian by 40.7% during the 4th quarter. First Trust Advisors LP now owns 927,586 shares of the bank's stock valued at $24,071,000 after acquiring an additional 268,191 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of First Hawaiian by 10.7% during the 4th quarter. Northern Trust Corp now owns 2,188,005 shares of the bank's stock valued at $56,779,000 after acquiring an additional 211,399 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. JPMorgan Chase & Co. raised their price target on shares of First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods dropped their price target on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company raised their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a report on Thursday, July 10th. Three research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Strong Sell" and an average target price of $27.64.

First Hawaiian Trading Up 0.2%

NASDAQ FHB traded up $0.04 on Wednesday, reaching $24.61. 740,420 shares of the stock were exchanged, compared to its average volume of 1,028,051. First Hawaiian, Inc. has a one year low of $20.32 and a one year high of $28.80. The firm has a market capitalization of $3.07 billion, a PE ratio of 12.69, a PEG ratio of 5.98 and a beta of 0.84. The company's 50-day simple moving average is $24.80 and its two-hundred day simple moving average is $24.58.

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

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.