First Hawaiian, Inc. (NASDAQ:FHB) Stock Position Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in First Hawaiian, Inc. (NASDAQ:FHB) by 0.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 176,859 shares of the bank’s stock after selling 763 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.14% of First Hawaiian worth $3,883,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in FHB. The Manufacturers Life Insurance Company lifted its position in shares of First Hawaiian by 17.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock valued at $186,842,000 after acquiring an additional 1,561,662 shares in the last quarter. Norges Bank purchased a new stake in First Hawaiian in the 4th quarter worth approximately $32,689,000. Hotchkis & Wiley Capital Management LLC lifted its position in First Hawaiian by 124.3% in the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock worth $58,079,000 after buying an additional 1,408,160 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in First Hawaiian by 17.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock worth $103,082,000 after buying an additional 668,871 shares in the last quarter. Finally, Reinhart Partners LLC. lifted its position in First Hawaiian by 10.2% in the 4th quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock worth $51,458,000 after buying an additional 207,652 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Down 1.5 %

Shares of FHB opened at $20.52 on Friday. The company’s fifty day moving average is $20.83 and its 200-day moving average is $21.34. First Hawaiian, Inc. has a 12 month low of $17.18 and a 12 month high of $23.22. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 11.79 and a beta of 0.99.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, April 26th. The bank reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. First Hawaiian had a net margin of 19.20% and a return on equity of 9.16%. The company had revenue of $205.80 million for the quarter, compared to analyst estimates of $202.41 million. As a group, research analysts predict that First Hawaiian, Inc. will post 1.71 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, May 17th. This represents a $1.04 annualized dividend and a dividend yield of 5.07%. First Hawaiian’s dividend payout ratio (DPR) is 59.77%.

Wall Street Analysts Forecast Growth

FHB has been the subject of a number of research analyst reports. Barclays cut their target price on shares of First Hawaiian from $25.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. JPMorgan Chase & Co. cut their target price on shares of First Hawaiian from $25.50 to $24.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Finally, Wells Fargo & Company cut their target price on shares of First Hawaiian from $20.00 to $18.00 and set an “underweight” rating for the company in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and an average price target of $21.50.

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.