WINTON GROUP Ltd Sells 249,376 Shares of First Hawaiian, Inc. $FHB

Key Points

• WINTON GROUP Ltd cut its First Hawaiian stake by 83.1% in the second quarter, selling 249,376 shares and retaining 50,577 shares worth approximately $1.48 million. Institutional investors own 97.63% of the company.
• Analyst sentiment remains mixed: First Hawaiian has an average “Reduce” rating and a consensus price target of $30.25, while recent price targets from JPMorgan and Barclays rose to $31 and $30, respectively.
• First Hawaiian exceeded quarterly earnings expectations, reporting $0.60 EPS and $231.27 million in revenue. The bank also maintains a quarterly dividend of $0.26, equivalent to a 4.0% annualized yield.

WINTON GROUP Ltd reduced its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 83.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,577 shares of the bank's stock after selling 249,376 shares during the period. WINTON GROUP Ltd's holdings in First Hawaiian were worth $1,482,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Eurizon Capital SGR S.p.A. acquired a new stake in shares of First Hawaiian during the 4th quarter worth about $26,000. Elevation Wealth Partners LLC raised its holdings in First Hawaiian by 378.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank's stock valued at $27,000 after acquiring an additional 738 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in First Hawaiian by 2,916.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank's stock valued at $27,000 after acquiring an additional 1,050 shares during the period. Global Retirement Partners LLC raised its holdings in First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank's stock valued at $43,000 after acquiring an additional 534 shares during the period. Finally, Danske Bank A S acquired a new stake in First Hawaiian during the third quarter worth approximately $47,000. 97.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on FHB. Wall Street Zen raised First Hawaiian from a "sell" rating to a "hold" rating in a research report on Saturday, August 29th. Zacks Research downgraded First Hawaiian from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. JPMorgan Chase & Co. upped their price objective on First Hawaiian from $27.00 to $31.00 and gave the company an "underweight" rating in a report on Wednesday, July 1st. Barclays increased their price objective on First Hawaiian from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 7th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of First Hawaiian in a report on Monday, July 6th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, First Hawaiian has an average rating of "Reduce" and a consensus price target of $30.25.

First Hawaiian Stock Up 0.3%

Shares of NASDAQ:FHB opened at $25.75 on Friday. First Hawaiian, Inc. has a 12-month low of $22.65 and a 12-month high of $30.58. The company's 50 day moving average price is $27.54 and its two-hundred day moving average price is $26.86. The firm has a market cap of $3.13 billion, a PE ratio of 11.20, a PEG ratio of 1.62 and a beta of 0.72.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The company had revenue of $231.27 million during the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same period in the previous year, the business earned $0.58 earnings per share. On average, research analysts expect that First Hawaiian, Inc. will post 2.34 EPS for the current year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.04 annualized dividend and a yield of 4.0%. First Hawaiian's payout ratio is currently 45.22%.

About First Hawaiian

First Hawaiian, Inc NASDAQ: FHB is the holding company for First Hawaiian Bank, a regional financial institution headquartered in Honolulu, Hawaii. Founded in 1858 as Bishop & Company, First Hawaiian Bank is the oldest bank in Hawaii and provides banking and financial services to consumers, businesses and government organizations.

The bank offers deposit accounts, residential and commercial lending, credit cards, treasury management, investment and wealth management services, and online and mobile banking.

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