Olstein Capital Management L.P. Decreases Position in First Hawaiian, Inc. (NASDAQ:FHB)

Olstein Capital Management L.P. decreased its position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 19.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FHB. Steward Partners Investment Advisory LLC increased its position in shares of First Hawaiian by 88.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,530 shares of the bank's stock valued at $351,000 after buying an additional 6,366 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in First Hawaiian during the fourth quarter valued at approximately $215,000. Norges Bank purchased a new position in First Hawaiian in the 4th quarter worth $36,266,000. Sterling Capital Management LLC increased its holdings in shares of First Hawaiian by 51.0% in the fourth quarter. Sterling Capital Management LLC now owns 7,636 shares of the bank's stock worth $198,000 after buying an additional 2,580 shares during the period. Finally, Principal Financial Group Inc. increased its stake in First Hawaiian by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 619,714 shares of the bank's stock worth $16,082,000 after purchasing an additional 17,515 shares during the period. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Trading Up 2.2%

Shares of First Hawaiian stock opened at $24.14 on Monday. First Hawaiian, Inc. has a 12 month low of $19.48 and a 12 month high of $28.80. The firm has a market capitalization of $3.03 billion, a P/E ratio of 13.49, a P/E/G ratio of 3.28 and a beta of 0.83. The business has a fifty day simple moving average of $23.17 and a two-hundred day simple moving average of $25.18.

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 (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. The company had revenue of $211.00 million during the quarter, compared to analyst estimates of $210.24 million. During the same period last year, the business earned $0.42 EPS. First Hawaiian's quarterly revenue was up 2.5% compared to the same quarter last year. Analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.31%. First Hawaiian's payout ratio is 56.52%.

Analyst Ratings Changes

Several equities research analysts have weighed in on FHB shares. Keefe, Bruyette & Woods dropped their price objective on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company dropped their price target on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating for the company in a research note on Wednesday, April 9th. Barclays reduced their price objective on shares of First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of First Hawaiian from $26.00 to $25.00 and set an "underweight" rating on the stock in a research note on Thursday, April 24th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $27.29.

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.

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