Hotchkis & Wiley Capital Management LLC Sells 289,190 Shares of 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 lowered its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 8.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,188,421 shares of the bank's stock after selling 289,190 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 2.54% of First Hawaiian worth $77,925,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FHB. First Trust Advisors LP boosted its stake in shares of First Hawaiian by 40.7% in the 4th quarter. First Trust Advisors LP now owns 927,586 shares of the bank's stock valued at $24,071,000 after purchasing an additional 268,191 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of First Hawaiian by 3.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,664,425 shares of the bank's stock valued at $146,992,000 after purchasing an additional 186,993 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of First Hawaiian by 0.6% in the 4th quarter. Stifel Financial Corp now owns 234,424 shares of the bank's stock valued at $6,083,000 after purchasing an additional 1,288 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of First Hawaiian by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 78,156 shares of the bank's stock valued at $2,029,000 after purchasing an additional 6,439 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in shares of First Hawaiian in the 4th quarter valued at $239,000. Institutional investors own 97.63% of the company's stock.

First Hawaiian Stock Down 1.1%

First Hawaiian stock traded down $0.29 during mid-day trading on Thursday, reaching $25.73. 804,822 shares of the company's stock were exchanged, compared to its average volume of 900,514. The business's fifty day simple moving average is $25.00 and its 200 day simple moving average is $24.50. The firm has a market capitalization of $3.21 billion, a PE ratio of 13.26, a P/E/G ratio of 6.20 and a beta of 0.84. First Hawaiian, Inc. has a one year low of $20.32 and a one year high of $28.80.

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

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Monday, August 18th. First Hawaiian's dividend payout ratio is 53.61%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded 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 note on Tuesday, July 8th. Wells Fargo & Company lifted their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Finally, Piper Sandler assumed coverage on shares of First Hawaiian in a research note on Thursday, August 21st. They issued a "neutral" rating and a $26.00 price objective for the company. Three research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, First Hawaiian currently has an average rating of "Strong Sell" and an average price target of $27.07.

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.