CIBC Asset Management Inc lifted its position in First Hawaiian Inc (NASDAQ:FHB) by 35.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,773 shares of the bank’s stock after buying an additional 19,880 shares during the quarter. CIBC Asset Management Inc owned approximately 0.06% of First Hawaiian worth $2,058,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the stock. Wells Fargo & Company MN grew its holdings in shares of First Hawaiian by 1,334.4% in the third quarter. Wells Fargo & Company MN now owns 1,122,557 shares of the bank’s stock worth $30,488,000 after purchasing an additional 1,044,295 shares during the last quarter. Comerica Bank lifted its stake in First Hawaiian by 221.3% in the third quarter. Comerica Bank now owns 321,205 shares of the bank’s stock worth $7,747,000 after acquiring an additional 221,250 shares during the period. Victory Capital Management Inc. purchased a new stake in First Hawaiian in the third quarter worth $27,588,000. Wedge Capital Management L L P NC purchased a new stake in First Hawaiian in the third quarter worth $26,884,000. Finally, Anchor Capital Advisors LLC purchased a new stake in First Hawaiian in the third quarter worth $10,642,000. Institutional investors own 51.39% of the company’s stock.
In other First Hawaiian news, Director Paribas Bnp sold 20,000,000 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $28.70, for a total transaction of $574,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.10% of the company’s stock.
Shares of First Hawaiian stock opened at $25.50 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.17. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.79 and a beta of 0.74. First Hawaiian Inc has a 12 month low of $22.91 and a 12 month high of $32.36.
First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Thursday, October 25th. The bank reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. The business had revenue of $188.66 million during the quarter, compared to analyst estimates of $193.89 million. First Hawaiian had a return on equity of 10.79% and a net margin of 26.14%. Sell-side analysts anticipate that First Hawaiian Inc will post 2.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 26th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend is Friday, November 23rd. First Hawaiian’s dividend payout ratio is currently 58.18%.
FHB has been the subject of a number of research analyst reports. BidaskClub lowered First Hawaiian from a “hold” rating to a “sell” rating in a research note on Friday, July 13th. Zacks Investment Research lowered First Hawaiian from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. ValuEngine lowered First Hawaiian from a “hold” rating to a “sell” rating in a research note on Friday, September 28th. Wells Fargo & Co set a $29.00 price target on First Hawaiian and gave the stock a “hold” rating in a research note on Tuesday, October 2nd. Finally, Citigroup dropped their price target on First Hawaiian from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Monday, October 29th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $31.44.
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First Hawaiian Company Profile
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking services to consumer and commercial customers in the United States. It operates through Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.
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