Principal Financial Group Inc. Has $14.85 Million Stock Position in First Hawaiian, Inc. $FHB

Principal Financial Group Inc. reduced its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 597,883 shares of the bank’s stock after selling 22,106 shares during the period. Principal Financial Group Inc. owned approximately 0.48% of First Hawaiian worth $14,845,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of First Hawaiian by 8.6% in the first quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock worth $4,041,000 after acquiring an additional 13,071 shares during the last quarter. Integrated Wealth Concepts LLC boosted its holdings in First Hawaiian by 9.3% in the 1st quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock valued at $246,000 after purchasing an additional 856 shares during the period. United Services Automobile Association acquired a new stake in First Hawaiian in the 1st quarter worth $201,000. Empowered Funds LLC increased its holdings in shares of First Hawaiian by 10.4% during the 1st quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after purchasing an additional 1,542 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of First Hawaiian by 8.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock valued at $10,389,000 after buying an additional 31,686 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $27.20 on Tuesday. The business’s fifty day moving average price is $26.36 and its two-hundred day moving average price is $25.32. First Hawaiian, Inc. has a fifty-two week low of $20.32 and a fifty-two week high of $28.35. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 2.15 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $199.68 million for the quarter, compared to analyst estimates of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same quarter in the prior year, the firm earned $0.41 EPS. Research analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.04 annualized dividend and a dividend yield of 3.8%. First Hawaiian’s dividend payout ratio (DPR) is presently 47.27%.

Analyst Upgrades and Downgrades

FHB has been the topic of a number of recent research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of First Hawaiian in a research report on Monday, December 29th. JPMorgan Chase & Co. raised their price objective on First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a research report on Monday, February 2nd. Barclays raised First Hawaiian from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $26.00 to $28.00 in a report on Tuesday, November 11th. The Goldman Sachs Group set a $27.50 target price on First Hawaiian and gave the company a “sell” rating in a research note on Tuesday, January 6th. Finally, Zacks Research cut First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Six research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $27.50.

Insider Activity

In other news, insider Alan Arizumi sold 36,460 shares of First Hawaiian stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $25.35, for a total value of $924,261.00. Following the completion of the transaction, the insider owned 37,508 shares in the company, valued at approximately $950,827.80. The trade was a 49.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.61% of the company’s stock.

First Hawaiian Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.