Bank of New York Mellon Corp Has $39.45 Million Position in First Hawaiian, Inc. (NASDAQ:FHB)

Bank of New York Mellon Corp lowered its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,900,121 shares of the bank’s stock after selling 23,000 shares during the quarter. Bank of New York Mellon Corp’s holdings in First Hawaiian were worth $39,447,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Louisiana State Employees Retirement System raised its position in shares of First Hawaiian by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 64,300 shares of the bank’s stock worth $1,335,000 after purchasing an additional 1,100 shares during the period. Raymond James & Associates raised its position in shares of First Hawaiian by 5.5% during the second quarter. Raymond James & Associates now owns 1,079,969 shares of the bank’s stock worth $22,420,000 after purchasing an additional 56,445 shares during the period. Reinhart Partners LLC. raised its position in shares of First Hawaiian by 0.9% during the second quarter. Reinhart Partners LLC. now owns 2,319,992 shares of the bank’s stock worth $48,163,000 after purchasing an additional 20,770 shares during the period. Retirement Planning Group LLC acquired a new stake in shares of First Hawaiian during the second quarter worth about $683,000. Finally, Curated Wealth Partners LLC raised its position in shares of First Hawaiian by 181.2% during the second quarter. Curated Wealth Partners LLC now owns 14,891 shares of the bank’s stock worth $309,000 after purchasing an additional 33,231 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Down 0.1 %

FHB stock opened at $24.33 on Tuesday. The business has a 50 day moving average price of $23.05 and a two-hundred day moving average price of $21.80. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 13.98 and a beta of 0.98. First Hawaiian, Inc. has a twelve month low of $17.18 and a twelve month high of $26.18.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, July 26th. The bank reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. The firm had revenue of $204.62 million during the quarter, compared to the consensus estimate of $202.94 million. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. On average, equities research analysts anticipate that First Hawaiian, Inc. will post 1.79 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.27%. First Hawaiian’s dividend payout ratio is currently 59.77%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods lifted their target price on First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Piper Sandler lifted their target price on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. Wells Fargo & Company lifted their target price on First Hawaiian from $18.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, July 29th. The Goldman Sachs Group lifted their target price on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research report on Monday, July 29th. Finally, JPMorgan Chase & Co. lowered First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 target price on the stock. in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, First Hawaiian presently has a consensus rating of “Reduce” and an average target price of $24.67.

About First Hawaiian

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.