Olstein Capital Management L.P. Sells 12,000 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Olstein Capital Management L.P. decreased its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 19.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 51,000 shares of the bank's stock after selling 12,000 shares during the period. Olstein Capital Management L.P.'s holdings in First Hawaiian were worth $1,246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new position in shares of First Hawaiian in the fourth quarter valued at about $36,000. Blue Trust Inc. boosted its position in shares of First Hawaiian by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank's stock valued at $71,000 after acquiring an additional 904 shares during the period. Global Retirement Partners LLC grew its stake in shares of First Hawaiian by 32.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank's stock valued at $74,000 after acquiring an additional 693 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of First Hawaiian by 65.1% in 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 period. Finally, Smartleaf Asset Management LLC grew its position in First Hawaiian by 280.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank's stock worth $103,000 after buying an additional 2,934 shares in the last quarter. Institutional investors own 97.63% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on FHB. Wells Fargo & Company lowered their price target on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating for the company in a report on Wednesday, April 9th. Keefe, Bruyette & Woods cut their price objective on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Barclays lowered their target price on First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. dropped their target price on First Hawaiian from $26.00 to $25.00 and set an "underweight" rating for the company in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $27.29.

First Hawaiian Trading Down 0.0%

First Hawaiian stock traded down $0.01 during trading hours on Thursday, hitting $24.15. 816,990 shares of the stock traded hands, compared to its average volume of 736,057. First Hawaiian, Inc. has a one year low of $19.54 and a one year high of $28.80. The firm's 50-day moving average price is $23.24 and its two-hundred day moving average price is $25.14. The company has a market cap of $3.04 billion, a PE ratio of 13.49, a PEG ratio of 3.28 and a beta of 0.83.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.47 earnings per share for the quarter, topping 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 for the quarter, compared to analysts' expectations of $210.24 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm's revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts expect that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.04 annualized dividend and a yield of 4.31%. First Hawaiian's dividend payout ratio (DPR) is presently 56.52%.

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.