Nuveen Asset Management LLC Has $17.12 Million Position in First Hawaiian, Inc. (NASDAQ:FHB)

Nuveen Asset Management LLC trimmed its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 659,583 shares of the bank's stock after selling 22,506 shares during the period. Nuveen Asset Management LLC owned 0.52% of First Hawaiian worth $17,116,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FHB. Norges Bank purchased a new position in First Hawaiian during the 4th quarter worth approximately $36,266,000. Raymond James Financial Inc. purchased a new position in First Hawaiian during the 4th quarter valued at about $32,086,000. Alliancebernstein L.P. grew its stake in First Hawaiian by 19.7% during the 4th quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank's stock valued at $136,087,000 after acquiring an additional 864,420 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in 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 in the last quarter. Finally, First Trust Advisors LP grew its stake in 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 in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Trading Down 1.1%

First Hawaiian stock traded down $0.26 during trading hours on Wednesday, reaching $23.66. 208,699 shares of the company were exchanged, compared to its average volume of 732,230. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 3.28 and a beta of 0.82. The stock has a 50-day moving average of $23.30 and a 200 day moving average of $25.38. First Hawaiian, Inc. has a 12 month low of $19.48 and a 12 month high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. The company had revenue of $211.00 million during the quarter, compared to analysts' expectations of $210.24 million. During the same period in the prior year, the business earned $0.42 earnings per share. First Hawaiian's revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, research analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a $0.26 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.40%. First Hawaiian's dividend payout ratio is 56.52%.

Analyst Ratings Changes

Several equities analysts have weighed in on FHB shares. Wells Fargo & Company lowered their target price on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods lowered their target price on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. Barclays lowered their target price on First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lowered their target price on First Hawaiian from $26.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group lifted their target price on First Hawaiian from $26.00 to $29.00 and gave the company a "sell" rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, First Hawaiian currently has an average rating of "Hold" and an average price target of $27.29.

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.