Victory Capital Management Inc. cut its holdings in First Hawaiian Inc (NASDAQ:FHB) by 35.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,270,790 shares of the bank’s stock after selling 706,188 shares during the quarter. Victory Capital Management Inc. owned approximately 0.91% of First Hawaiian worth $37,081,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the stock. State of Alaska Department of Revenue bought a new position in shares of First Hawaiian during the fourth quarter worth about $137,000. Jane Street Group LLC bought a new stake in First Hawaiian in the third quarter worth approximately $208,000. Aperio Group LLC bought a new stake in First Hawaiian in the third quarter worth approximately $210,000. Koch Industries Inc. bought a new stake in First Hawaiian in the second quarter worth approximately $240,000. Finally, Cadence Capital Management LLC bought a new stake in First Hawaiian in the third quarter worth approximately $245,000. 35.53% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have weighed in on FHB. ValuEngine upgraded First Hawaiian from a “hold” rating to a “buy” rating in a report on Friday, December 1st. BidaskClub raised First Hawaiian from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. UBS Group raised their price objective on First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Barclays lifted their target price on First Hawaiian from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Zacks Investment Research cut First Hawaiian from a “hold” rating to a “sell” rating in a research report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $32.75.
Shares of First Hawaiian Inc (NASDAQ:FHB) traded up $0.11 on Friday, hitting $28.30. The company’s stock had a trading volume of 404,799 shares, compared to its average volume of 402,130. First Hawaiian Inc has a 52-week low of $26.30 and a 52-week high of $32.40. The company has a market capitalization of $3,935.01, a price-to-earnings ratio of 21.44, a PEG ratio of 2.05 and a beta of 0.35.
First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Thursday, January 25th. The bank reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $134.90 million for the quarter, compared to analyst estimates of $135.40 million. First Hawaiian had a return on equity of 9.09% and a net margin of 23.80%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. equities analysts forecast that First Hawaiian Inc will post 1.97 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Monday, February 26th will be issued a $0.24 dividend. This is a boost from First Hawaiian’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend is Friday, February 23rd. First Hawaiian’s dividend payout ratio is presently 66.67%.
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First Hawaiian Company Profile
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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