Wedge Capital Management L L P NC cut its stake in First Hawaiian Inc (NASDAQ:FHB) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,337,878 shares of the bank’s stock after selling 27,303 shares during the quarter. Wedge Capital Management L L P NC owned 0.99% of First Hawaiian worth $34,611,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of FHB. State Board of Administration of Florida Retirement System grew its position in shares of First Hawaiian by 134.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,897 shares of the bank’s stock valued at $883,000 after purchasing an additional 19,430 shares during the period. BTIM Corp. boosted its position in First Hawaiian by 21.0% during the 2nd quarter. BTIM Corp. now owns 748,517 shares of the bank’s stock worth $19,364,000 after acquiring an additional 130,146 shares during the last quarter. American Century Companies Inc. boosted its position in First Hawaiian by 3.9% during the 1st quarter. American Century Companies Inc. now owns 7,242,712 shares of the bank’s stock worth $188,673,000 after acquiring an additional 269,330 shares during the last quarter. Westwood Holdings Group Inc. boosted its position in First Hawaiian by 73.2% during the 1st quarter. Westwood Holdings Group Inc. now owns 873,046 shares of the bank’s stock worth $22,743,000 after acquiring an additional 369,087 shares during the last quarter. Finally, Fenimore Asset Management Inc. boosted its position in First Hawaiian by 330.6% during the 2nd quarter. Fenimore Asset Management Inc. now owns 200,966 shares of the bank’s stock worth $5,199,000 after acquiring an additional 154,295 shares during the last quarter. Institutional investors and hedge funds own 99.16% of the company’s stock.
FHB has been the subject of a number of recent research reports. Zacks Investment Research raised First Hawaiian from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. downgraded First Hawaiian from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $26.50 to $26.00 in a research report on Monday, July 29th. ValuEngine downgraded First Hawaiian from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BidaskClub raised First Hawaiian from a “sell” rating to a “hold” rating in a research report on Friday, July 19th. Finally, TheStreet raised First Hawaiian from a “c” rating to a “b-” rating in a research report on Monday, August 5th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $27.80.
Shares of NASDAQ FHB traded down $0.08 during trading hours on Wednesday, hitting $24.93. The company had a trading volume of 272,414 shares, compared to its average volume of 1,043,993. The stock has a market capitalization of $3.36 billion, a PE ratio of 11.93, a P/E/G ratio of 4.26 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.82 and a quick ratio of 0.82. First Hawaiian Inc has a 1-year low of $21.19 and a 1-year high of $30.02. The firm’s 50 day moving average price is $25.71.
First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.54 EPS for the quarter, beating the consensus estimate of $0.52 by $0.02. The company had revenue of $194.39 million during the quarter, compared to the consensus estimate of $196.31 million. First Hawaiian had a return on equity of 11.48% and a net margin of 31.56%. During the same quarter in the prior year, the firm posted $0.50 EPS. Equities research analysts expect that First Hawaiian Inc will post 2.12 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Monday, August 26th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Friday, August 23rd. First Hawaiian’s payout ratio is presently 49.76%.
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 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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