First Hawaiian, Inc. $FHB Shares Sold by Strs Ohio

Strs Ohio reduced its position in First Hawaiian, Inc. (NASDAQ:FHB) by 95.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,994 shares of the bank’s stock after selling 70,731 shares during the quarter. Strs Ohio’s holdings in First Hawaiian were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in First Hawaiian in the 3rd quarter worth about $338,000. Wealth Enhancement Advisory Services LLC grew its holdings in First Hawaiian by 124.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 31,012 shares of the bank’s stock valued at $767,000 after buying an additional 17,172 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of First Hawaiian by 20.2% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 16,277 shares of the bank’s stock worth $404,000 after acquiring an additional 2,733 shares during the period. Evergreen Capital Management LLC boosted its position in shares of First Hawaiian by 28.8% during the 3rd quarter. Evergreen Capital Management LLC now owns 46,582 shares of the bank’s stock valued at $1,157,000 after acquiring an additional 10,408 shares during the last quarter. Finally, Reinhart Partners LLC. grew its holdings in shares of First Hawaiian by 0.7% in the third quarter. Reinhart Partners LLC. now owns 2,360,541 shares of the bank’s stock valued at $58,613,000 after purchasing an additional 17,241 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Performance

Shares of NASDAQ FHB opened at $27.12 on Thursday. First Hawaiian, Inc. has a fifty-two week low of $20.32 and a fifty-two week high of $28.35. The stock’s 50-day simple moving average is $26.25 and its 200-day simple moving average is $25.29. The firm has a market capitalization of $3.36 billion, a PE ratio of 12.33, a price-to-earnings-growth ratio of 1.89 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.01. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The business had revenue of $199.68 million during the quarter, compared to analysts’ expectations of $225.33 million. During the same quarter in the prior year, the business posted $0.41 EPS. On average, sell-side analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

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 $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 13th. First Hawaiian’s dividend payout ratio is presently 47.27%.

Insiders Place Their Bets

In related news, insider Alan Arizumi sold 6,566 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.34, for a total transaction of $166,382.44. Following the completion of the sale, the insider owned 1,962 shares in the company, valued at $49,717.08. This represents a 76.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FHB shares. Zacks Research cut shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. TD Cowen reiterated a “hold” rating on shares of First Hawaiian in a research report on Monday. The Goldman Sachs Group set a $27.50 target price on shares of First Hawaiian and gave the stock a “sell” rating in a research note on Tuesday, January 6th. Barclays upgraded First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $26.00 to $28.00 in a research report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of First Hawaiian in a report on Monday, December 29th. Six research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $27.50.

About First Hawaiian

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.