United Services Automobile Association trimmed its position in shares of First Hawaiian Inc (NASDAQ:FHB) by 31.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,584 shares of the bank’s stock after selling 32,400 shares during the quarter. United Services Automobile Association’s holdings in First Hawaiian were worth $1,826,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Nuveen Asset Management LLC acquired a new position in shares of First Hawaiian during the second quarter worth about $12,127,000. Victory Capital Management Inc. increased its stake in shares of First Hawaiian by 93.3% during the second quarter. Victory Capital Management Inc. now owns 1,051,200 shares of the bank’s stock worth $27,195,000 after acquiring an additional 507,300 shares during the period. UBS Asset Management Americas Inc. grew its position in First Hawaiian by 8.2% during the second quarter. UBS Asset Management Americas Inc. now owns 149,674 shares of the bank’s stock worth $3,872,000 after buying an additional 11,344 shares during the period. D. E. Shaw & Co. Inc. grew its position in First Hawaiian by 24.9% during the second quarter. D. E. Shaw & Co. Inc. now owns 1,086,055 shares of the bank’s stock worth $28,096,000 after buying an additional 216,642 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in First Hawaiian during the second quarter worth about $243,000. Institutional investors and hedge funds own 95.86% of the company’s stock.
FHB has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of First Hawaiian from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Tuesday. ValuEngine lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BidaskClub upgraded shares of First Hawaiian from a “hold” rating to a “buy” rating in a research report on Thursday, September 12th. TheStreet upgraded shares of First Hawaiian from a “c” rating to a “b-” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. lowered shares of First Hawaiian from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $26.50 to $26.00 in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. First Hawaiian has a consensus rating of “Hold” and an average price target of $27.25.
Shares of FHB opened at $25.81 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average is $26.24 and its two-hundred day moving average is $26.14. First Hawaiian Inc has a twelve month low of $21.19 and a twelve month high of $28.20. The firm has a market capitalization of $3.50 billion, a P/E ratio of 12.35, a PEG ratio of 4.35 and a beta of 1.15.
First Hawaiian (NASDAQ:FHB) last issued its earnings results on Thursday, July 25th. The bank reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.02. First Hawaiian had a net margin of 31.56% and a return on equity of 11.48%. The company had revenue of $194.39 million for the quarter, compared to analyst estimates of $196.31 million. During the same period in the prior year, the business posted $0.50 earnings per share. Analysts predict that First Hawaiian Inc will post 2.16 EPS for the current year.
About First Hawaiian
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 in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company accepts various deposit products, including checking and savings accounts, and time deposit accounts.
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