Bank of New York Mellon Corp lowered its holdings in First Hawaiian Inc (NASDAQ:FHB) by 61.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 443,688 shares of the bank’s stock after selling 694,822 shares during the quarter. Bank of New York Mellon Corp owned about 0.32% of First Hawaiian worth $12,876,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC grew its stake in shares of First Hawaiian by 117.2% in the 2nd quarter. FMR LLC now owns 9,109,111 shares of the bank’s stock valued at $264,346,000 after purchasing an additional 4,916,096 shares during the last quarter. BlackRock Inc. grew its stake in shares of First Hawaiian by 97.4% in the 2nd quarter. BlackRock Inc. now owns 4,679,481 shares of the bank’s stock valued at $135,798,000 after purchasing an additional 2,309,230 shares during the last quarter. Citadel Advisors LLC grew its stake in shares of First Hawaiian by 8,096.9% in the 2nd quarter. Citadel Advisors LLC now owns 1,712,256 shares of the bank’s stock valued at $49,690,000 after purchasing an additional 1,691,367 shares during the last quarter. Millennium Management LLC grew its stake in shares of First Hawaiian by 151.0% in the 2nd quarter. Millennium Management LLC now owns 1,012,156 shares of the bank’s stock valued at $29,373,000 after purchasing an additional 608,978 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of First Hawaiian by 102.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 533,217 shares of the bank’s stock valued at $15,475,000 after purchasing an additional 269,935 shares during the last quarter. Institutional investors and hedge funds own 78.57% of the company’s stock.
Several analysts have recently commented on the company. BidaskClub raised First Hawaiian from a “hold” rating to a “buy” rating in a report on Thursday, August 23rd. Zacks Investment Research raised First Hawaiian from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a report on Wednesday, September 26th. ValuEngine cut First Hawaiian from a “hold” rating to a “sell” rating in a report on Friday, September 28th. Wells Fargo & Co set a $29.00 price target on First Hawaiian and gave the company a “hold” rating in a report on Tuesday, October 2nd. Finally, Citigroup reduced their price target on First Hawaiian from $32.00 to $26.00 and set a “neutral” rating for the company in a report 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 company. First Hawaiian currently has a consensus rating of “Hold” and a consensus target price of $31.44.
In related news, Director Paribas Bnp sold 20,000,000 shares of First Hawaiian 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.10% of the company’s stock.
FHB opened at $24.55 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 company has a market capitalization of $3.34 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.76 and a beta of 0.77. First Hawaiian Inc has a 12 month low of $22.91 and a 12 month high of $32.36.
First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results 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 analysts’ expectations of $193.89 million. First Hawaiian had a return on equity of 10.79% and a net margin of 26.14%. As a group, research analysts forecast that First Hawaiian Inc will post 2.03 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Monday, November 26th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, November 23rd. This represents a $0.96 annualized dividend and a yield of 3.91%. First Hawaiian’s dividend payout ratio is presently 58.18%.
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First Hawaiian 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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