Alaska Permanent Fund Corp Trims Stock Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Alaska Permanent Fund Corp decreased its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,834 shares of the bank’s stock after selling 20,366 shares during the quarter. Alaska Permanent Fund Corp’s holdings in First Hawaiian were worth $2,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in First Hawaiian by 17.8% during the third quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock valued at $186,842,000 after buying an additional 1,561,662 shares during the last quarter. Reinhart Partners LLC. boosted its stake in First Hawaiian by 10.2% during the fourth quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock valued at $51,458,000 after buying an additional 207,652 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in First Hawaiian by 12.4% during the third quarter. Bank of New York Mellon Corp now owns 1,879,410 shares of the bank’s stock valued at $33,923,000 after buying an additional 207,383 shares during the last quarter. Richard Bernstein Advisors LLC bought a new position in First Hawaiian during the third quarter valued at approximately $3,437,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in First Hawaiian by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,425,166 shares of the bank’s stock valued at $25,724,000 after buying an additional 110,347 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

FHB stock traded down $0.25 during midday trading on Thursday, reaching $21.96. 60,184 shares of the company traded hands, compared to its average volume of 684,470. The business has a 50 day moving average of $21.29 and a 200-day moving average of $20.74. First Hawaiian, Inc. has a 52-week low of $15.08 and a 52-week high of $23.22. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 12.07 and a beta of 1.01.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, January 26th. The bank reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.08). First Hawaiian had a return on equity of 9.87% and a net margin of 20.90%. The business had revenue of $210.14 million during the quarter, compared to analysts’ expectations of $201.09 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. Research analysts anticipate that First Hawaiian, Inc. will post 1.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on FHB shares. Wells Fargo & Company upped their price objective on First Hawaiian from $18.00 to $20.00 and gave the company an “underweight” rating in a research report on Monday, January 29th. StockNews.com upgraded First Hawaiian to a “sell” rating in a research report on Friday, January 19th. Finally, Barclays started coverage on First Hawaiian in a research report on Friday, March 8th. They set an “equal weight” rating and a $25.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $21.60.

First Hawaiian Company Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and 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 offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.