California Public Employees Retirement System Trims Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

California Public Employees Retirement System lowered its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 12.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 246,014 shares of the bank's stock after selling 35,458 shares during the period. California Public Employees Retirement System owned approximately 0.19% of First Hawaiian worth $5,624,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Raymond James & Associates raised its position in First Hawaiian by 2.0% in the third quarter. Raymond James & Associates now owns 910,766 shares of the bank's stock worth $16,439,000 after purchasing an additional 18,105 shares in the last quarter. Bank of New York Mellon Corp raised its position in First Hawaiian by 12.4% in the third quarter. Bank of New York Mellon Corp now owns 1,879,410 shares of the bank's stock worth $33,923,000 after purchasing an additional 207,383 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in First Hawaiian by 16.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,103 shares of the bank's stock worth $453,000 after purchasing an additional 3,559 shares in the last quarter. Yacktman Asset Management LP raised its position in First Hawaiian by 0.4% in the third quarter. Yacktman Asset Management LP now owns 1,930,875 shares of the bank's stock worth $34,852,000 after purchasing an additional 6,768 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in First Hawaiian in the third quarter worth about $1,364,000. Institutional investors and hedge funds own 97.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Barclays began coverage on shares of First Hawaiian in a research report on Friday, March 8th. They issued an "equal weight" rating and a $25.00 price target for the company. Wells Fargo & Company upped their price objective on shares of First Hawaiian from $18.00 to $20.00 and gave the stock an "underweight" rating in a research note on Monday, January 29th. Finally, StockNews.com raised shares of First Hawaiian to a "sell" rating in a research note on Friday, January 19th. Three equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to MarketBeat.com, First Hawaiian currently has an average rating of "Reduce" and a consensus target price of $21.75.

First Hawaiian Stock Performance

First Hawaiian stock traded up $0.09 during trading hours on Friday, hitting $21.78. 446,179 shares of the stock were exchanged, compared to its average volume of 655,602. First Hawaiian, Inc. has a 12 month low of $15.08 and a 12 month high of $23.22. The business's 50-day moving average is $21.32 and its two-hundred day moving average is $20.93. The stock has a market capitalization of $2.78 billion, a P/E ratio of 12.52 and a beta of 1.00.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. First Hawaiian had a net margin of 19.20% and a return on equity of 9.16%. The business had revenue of $205.80 million for the quarter, compared to analysts' expectations of $202.41 million. On average, equities analysts predict that First Hawaiian, Inc. will post 1.71 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Friday, May 17th. First Hawaiian's dividend payout ratio (DPR) is currently 59.77%.

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.