Fuller & Thaler Asset Management Inc. Decreases Stock Holdings in 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. lessened its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 9.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,287,303 shares of the bank's stock after selling 521,559 shares during the period. Fuller & Thaler Asset Management Inc. owned 4.21% of First Hawaiian worth $129,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its stake in First Hawaiian by 10.3% in the first quarter. Wellington Management Group LLP now owns 771,295 shares of the bank's stock valued at $18,850,000 after purchasing an additional 72,071 shares in the last quarter. Northern Trust Corp increased its position in shares of First Hawaiian by 2.1% during the first quarter. Northern Trust Corp now owns 2,233,354 shares of the bank's stock worth $54,583,000 after acquiring an additional 45,349 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of First Hawaiian by 4.8% during the first quarter. Raymond James Financial Inc. now owns 1,295,267 shares of the bank's stock worth $31,656,000 after acquiring an additional 58,793 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of First Hawaiian by 2.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,786,438 shares of the bank's stock worth $141,417,000 after acquiring an additional 122,013 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. increased its position in shares of First Hawaiian by 92.4% during the first quarter. Vestmark Advisory Solutions Inc. now owns 192,788 shares of the bank's stock worth $4,712,000 after acquiring an additional 92,561 shares in the last quarter. Institutional investors own 97.63% of the company's stock.

First Hawaiian Stock Performance

FHB traded up $0.90 during midday trading on Friday, reaching $25.51. The company had a trading volume of 1,225,328 shares, compared to its average volume of 1,016,081. The stock has a market cap of $3.18 billion, a PE ratio of 13.15, a P/E/G ratio of 5.99 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. The business has a 50-day moving average price of $24.85 and a two-hundred day moving average price of $24.55.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The bank reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.49 by $0.09. The company had revenue of $217.54 million for the quarter, compared to analysts' expectations of $214.67 million. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. During the same period in the prior year, the company posted $0.48 EPS. On average, research analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Monday, August 18th. First Hawaiian's dividend payout ratio (DPR) is 53.61%.

Analyst Upgrades and Downgrades

FHB has been the subject of several recent research reports. Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. boosted their target price on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Barclays restated an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. Piper Sandler began coverage on shares of First Hawaiian in a report on Thursday. They set a "neutral" rating and a $26.00 price target on the stock. Finally, Wells Fargo & Company boosted their price target 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 investment analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Strong Sell" and a consensus target price of $27.07.

About First Hawaiian

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.