Invesco Ltd. Sells 37,359 Shares of First Hawaiian, Inc. $FHB

Key Points

• Invesco Ltd. has reduced its stake in First Hawaiian, Inc. by 5.9%, now owning 596,208 shares worth approximately $14.57 million.
• First Hawaiian recently reported earnings per share of $0.58 for the quarter, exceeding analysts' expectations of $0.49.
• The company declared a quarterly dividend of $0.26 per share, providing a yield of 4.1%, with the payout ratio currently at 53.61%.

Invesco Ltd. cut its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 5.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 596,208 shares of the bank's stock after selling 37,359 shares during the period. Invesco Ltd. owned approximately 0.47% of First Hawaiian worth $14,571,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC purchased a new stake in shares of First Hawaiian during the first quarter valued at $44,000. Versant Capital Management Inc boosted its position in shares of First Hawaiian by 65.1% during the first quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock valued at $76,000 after buying an additional 1,233 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of First Hawaiian by 26.0% during the first quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock valued at $109,000 after buying an additional 920 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of First Hawaiian by 36.4% during the first quarter. GAMMA Investing LLC now owns 4,943 shares of the bank's stock valued at $121,000 after buying an additional 1,319 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of First Hawaiian during the first quarter valued at $161,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Performance

Shares of NASDAQ FHB traded up $0.28 during trading on Tuesday, hitting $25.59. The company had a trading volume of 1,001,795 shares, compared to its average volume of 898,024. The stock has a 50 day simple moving average of $24.89 and a 200 day simple moving average of $24.48. First Hawaiian, Inc. has a 12 month low of $20.32 and a 12 month high of $28.80. The firm has a market capitalization of $3.19 billion, a P/E ratio of 13.19, a price-to-earnings-growth ratio of 6.19 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The bank reported $0.58 EPS for the quarter, topping 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 firm had revenue of $217.54 million for the quarter, compared to the consensus estimate of $214.67 million. During the same quarter last year, the company earned $0.48 earnings per share. As a group, analysts predict that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Barclays reaffirmed an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Wells Fargo & Company increased their target price on First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Wall Street Zen raised First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. 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 started coverage on First Hawaiian in a report on Thursday, August 21st. They issued a "neutral" rating and a $26.00 target price on the stock. Three analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Strong Sell" and an average price target of $27.07.

First Hawaiian Company 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.