Capital Research Global Investors Sells 84,448 Shares of First Hawaiian Inc (FHB)
Capital Research Global Investors cut its holdings in First Hawaiian Inc (NYSE:FHB) by 3.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,148,887 shares of the bank’s stock after selling 84,448 shares during the quarter. Capital Research Global Investors owned about 1.54% of First Hawaiian worth $65,799,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Prudential Financial Inc. increased its stake in First Hawaiian by 1,189.4% in the first quarter. Prudential Financial Inc. now owns 102,921 shares of the bank’s stock valued at $3,079,000 after purchasing an additional 94,939 shares during the period. Bank of New York Mellon Corp increased its stake in First Hawaiian by 28.3% in the first quarter. Bank of New York Mellon Corp now owns 241,309 shares of the bank’s stock valued at $7,220,000 after purchasing an additional 53,200 shares during the period. Vanguard Group Inc. increased its stake in First Hawaiian by 149.2% in the first quarter. Vanguard Group Inc. now owns 3,908,897 shares of the bank’s stock valued at $116,954,000 after purchasing an additional 2,340,324 shares during the period. Eventide Asset Management LLC increased its stake in First Hawaiian by 108.7% in the first quarter. Eventide Asset Management LLC now owns 24,000 shares of the bank’s stock valued at $718,000 after purchasing an additional 12,500 shares during the period. Finally, Renaissance Technologies LLC acquired a new position in First Hawaiian in the first quarter valued at $10,068,000.
A number of research firms have commented on FHB. BidaskClub lowered shares of First Hawaiian from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. UBS AG restated a “neutral” rating and issued a $29.00 price objective (down from $30.00) on shares of First Hawaiian in a research note on Monday, July 31st. Finally, Bank of America Corporation restated a “neutral” rating and issued a $34.00 price objective (down from $37.00) on shares of First Hawaiian in a research note on Thursday, June 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. First Hawaiian has a consensus rating of “Hold” and an average target price of $32.83.
Shares of First Hawaiian Inc (NYSE:FHB) opened at 29.85 on Friday. The stock has a 50 day moving average of $29.16 and a 200 day moving average of $29.16. First Hawaiian Inc has a one year low of $25.80 and a one year high of $35.47. The stock has a market cap of $4.17 billion and a P/E ratio of 18.66.
First Hawaiian (NYSE:FHB) last released its quarterly earnings data on Thursday, July 27th. The bank reported $0.41 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.41. First Hawaiian had a net margin of 31.59% and a return on equity of 9.02%. The business had revenue of $131.30 million for the quarter, compared to analysts’ expectations of $134.58 million. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Equities analysts expect that First Hawaiian Inc will post $1.66 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were issued a $0.22 dividend. The ex-dividend date was Thursday, August 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.95%.
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First Hawaiian Company Profile
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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