TD Asset Management Inc Sells 19,567 Shares of First Hawaiian, Inc. $FHB

Key Points

• TD Asset Management Inc reduced its stake in First Hawaiian, Inc. by 18.2%, selling 19,567 shares and holding 87,658 shares worth approximately $2.19 million as of its latest SEC filing.
• Several institutional investors increased their holdings in First Hawaiian, with GAMMA Investing LLC boosting its shares by 36.4% during the 1st quarter.
• First Hawaiian stock has a current price of $23.75, with a market cap of $2.96 billion, and a consensus analyst rating of "Reduce" with an average price target of $27.06.

TD Asset Management Inc cut its holdings in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 18.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,658 shares of the bank's stock after selling 19,567 shares during the period. TD Asset Management Inc owned 0.07% of First Hawaiian worth $2,188,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of FHB. GAMMA Investing LLC boosted its holdings in First Hawaiian by 36.4% in the 1st quarter. GAMMA Investing LLC now owns 4,943 shares of the bank's stock valued at $121,000 after purchasing an additional 1,319 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in First Hawaiian by 25.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 12,864 shares of the bank's stock valued at $314,000 after purchasing an additional 2,617 shares during the period. Janney Montgomery Scott LLC boosted its holdings in First Hawaiian by 20.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 35,631 shares of the bank's stock valued at $871,000 after purchasing an additional 5,939 shares during the period. Wealthquest Corp bought a new position in First Hawaiian in the 1st quarter valued at $248,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in First Hawaiian by 4.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 70,300 shares of the bank's stock valued at $1,718,000 after purchasing an additional 2,678 shares during the period. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FHB has been the subject of several analyst reports. Barclays reissued an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. TD Cowen initiated coverage on shares of First Hawaiian in a report on Thursday, September 25th. They issued a "hold" rating and a $27.00 price target for the company. Cowen initiated coverage on shares of First Hawaiian in a report on Wednesday, September 24th. They issued a "hold" rating for the company. Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Piper Sandler assumed coverage on shares of First Hawaiian in a research report on Thursday, August 21st. They set a "neutral" rating and a $26.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Reduce" and an average price target of $27.06.

First Hawaiian Stock Performance

First Hawaiian stock opened at $23.75 on Wednesday. The firm's fifty day moving average price is $24.99 and its 200-day moving average price is $24.33. The stock has a market cap of $2.96 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 3.47 and a beta of 0.84. First Hawaiian, Inc. has a fifty-two week low of $20.32 and a fifty-two week high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its earnings results on Monday, August 9th. The bank reported $0.44 EPS for the quarter. The company had revenue of $129.16 million for the quarter. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. On average, analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

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.

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