Hotchkis & Wiley Capital Management LLC Has $77.93 Million Holdings in First Hawaiian, Inc. $FHB

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in First Hawaiian, Inc. by 8.3%, owning approximately 3.19 million shares, valued at around $77.9 million.
• First Hawaiian reported a quarterly EPS of $0.58, exceeding analysts' expectations, with revenue of $217.54 million compared to forecasts of $214.67 million.
• The company declared a quarterly dividend of $0.26 per share, resulting in an annualized yield of 4.1% based on a payout ratio of 53.61%.

Hotchkis & Wiley Capital Management LLC reduced its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,188,421 shares of the bank's stock after selling 289,190 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 2.54% of First Hawaiian worth $77,925,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC acquired a new position in First Hawaiian during the first quarter worth about $1,928,000. Hsbc Holdings PLC acquired a new position in First Hawaiian during the first quarter worth about $4,020,000. Wellington Management Group LLP increased its stake in First Hawaiian by 10.3% in the 1st quarter. Wellington Management Group LLP now owns 771,295 shares of the bank's stock worth $18,850,000 after purchasing an additional 72,071 shares in the last quarter. Northern Trust Corp increased its stake in First Hawaiian by 2.1% in the 1st quarter. Northern Trust Corp now owns 2,233,354 shares of the bank's stock worth $54,583,000 after purchasing an additional 45,349 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in First Hawaiian by 4.8% in the 1st quarter. Raymond James Financial Inc. now owns 1,295,267 shares of the bank's stock worth $31,656,000 after purchasing an additional 58,793 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Thursday, July 10th. Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. JPMorgan Chase & Co. increased 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. Finally, Piper Sandler assumed coverage on First Hawaiian in a report on Thursday, August 21st. They set a "neutral" rating and a $26.00 price target on the stock. Three research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Strong Sell" and an average target price of $27.07.

First Hawaiian Trading Up 1.1%

NASDAQ FHB traded up $0.28 on Tuesday, reaching $25.59. The stock had a trading volume of 1,001,795 shares, compared to its average volume of 1,000,066. The business has a 50 day moving average price of $24.94 and a 200 day moving average price of $24.49. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.80. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 6.14 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its 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. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.The firm had revenue of $217.54 million for the quarter, compared to the consensus estimate of $214.67 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. On average, analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

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

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.