The Manufacturers Life Insurance Company Cuts Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

The Manufacturers Life Insurance Company lowered its position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,133,308 shares of the bank's stock after selling 491,451 shares during the quarter. The Manufacturers Life Insurance Company owned about 7.92% of First Hawaiian worth $262,959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in FHB. Steward Partners Investment Advisory LLC increased its holdings in shares of First Hawaiian by 88.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,530 shares of the bank's stock worth $351,000 after buying an additional 6,366 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in First Hawaiian in the fourth quarter valued at $215,000. Norges Bank purchased a new stake in First Hawaiian during the fourth quarter valued at about $36,266,000. Principal Financial Group Inc. lifted its stake in First Hawaiian by 2.9% during the fourth 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 last quarter. Finally, Sterling Capital Management LLC increased its position in shares of First Hawaiian by 51.0% during the 4th quarter. Sterling Capital Management LLC now owns 7,636 shares of the bank's stock valued at $198,000 after purchasing an additional 2,580 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Trading Up 1.4 %

FHB traded up $0.31 during midday trading on Friday, reaching $23.26. The company's stock had a trading volume of 530,489 shares, compared to its average volume of 725,598. First Hawaiian, Inc. has a 1 year low of $19.48 and a 1 year high of $28.80. The stock's 50-day moving average is $23.83 and its 200-day moving average is $25.52. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 3.28 and a beta of 0.82.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. The business had revenue of $211.00 million during the quarter, compared to analysts' expectations of $210.24 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The firm's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities research analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.47%. The ex-dividend date is Monday, May 19th. First Hawaiian's dividend payout ratio (DPR) is 56.52%.

Wall Street Analysts Forecast Growth

FHB has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on shares of First Hawaiian from $24.00 to $22.00 and set an "underweight" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on shares of First Hawaiian from $26.00 to $25.00 and set an "underweight" rating on the stock in a research report on Thursday, April 24th. Keefe, Bruyette & Woods dropped their target price on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group boosted their price target on shares of First Hawaiian from $26.00 to $29.00 and gave the company a "sell" rating in a research report on Monday, February 3rd. Finally, Barclays lowered their price objective on shares of First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average 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.