JPMorgan Chase & Co. Trims Holdings in First Hawaiian, Inc. $FHB

JPMorgan Chase & Co. lowered its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 14.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,319,555 shares of the bank’s stock after selling 378,210 shares during the period. JPMorgan Chase & Co.’s holdings in First Hawaiian were worth $57,595,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in shares of First Hawaiian by 74.9% in the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock valued at $25,000 after buying an additional 438 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in First Hawaiian by 2,916.7% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock valued at $27,000 after acquiring an additional 1,050 shares during the last quarter. Danske Bank A S acquired a new stake in First Hawaiian during the 3rd quarter worth approximately $47,000. CIBC Private Wealth Group LLC purchased a new position in shares of First Hawaiian in the 3rd quarter valued at approximately $48,000. Finally, Bayforest Capital Ltd acquired a new position in shares of First Hawaiian in the third quarter valued at approximately $64,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Up 0.4%

Shares of NASDAQ FHB opened at $23.69 on Friday. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.87 and a beta of 0.71. First Hawaiian, Inc. has a 52 week low of $20.32 and a 52 week high of $28.35. The firm has a 50-day moving average price of $25.94 and a 200 day moving average price of $25.40.

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 analysts’ consensus estimates of $0.55 by $0.01. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The company had revenue of $225.85 million during the quarter, compared to analysts’ expectations of $225.33 million. During the same period last year, the company posted $0.41 earnings per share. Equities research analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Friday, February 13th. First Hawaiian’s payout ratio is presently 47.27%.

Wall Street Analysts Forecast Growth

FHB has been the subject of several recent research reports. Zacks Research downgraded First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. Piper Sandler reduced their target price on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. The Goldman Sachs Group set a $27.50 price target on shares of First Hawaiian and gave the stock a “sell” rating in a research note on Tuesday, January 6th. Weiss Ratings raised First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Finally, Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $27.50.

Insiders Place Their Bets

In other news, Director Craig Scott Wo sold 1,500 shares of the firm’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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.