First Hawaiian Inc (FHB) Shares Sold by Cornerstone Capital Management Holdings LLC.
Cornerstone Capital Management Holdings LLC. lessened its position in First Hawaiian Inc (NASDAQ:FHB) by 50.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 150,000 shares of the bank’s stock after selling 155,609 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.11% of First Hawaiian worth $4,543,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of FHB. Janus Henderson Group PLC acquired a new position in First Hawaiian in the 2nd quarter valued at approximately $127,437,000. Vanguard Group Inc. increased its stake in First Hawaiian by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,146,953 shares of the bank’s stock valued at $126,981,000 after buying an additional 238,056 shares during the period. JPMorgan Chase & Co. increased its stake in First Hawaiian by 19.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,647,583 shares of the bank’s stock valued at $111,689,000 after buying an additional 597,492 shares during the period. Victory Capital Management Inc. increased its stake in First Hawaiian by 6.3% in the 2nd quarter. Victory Capital Management Inc. now owns 2,064,664 shares of the bank’s stock valued at $63,220,000 after buying an additional 121,463 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC increased its stake in First Hawaiian by 45.4% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,814,950 shares of the bank’s stock valued at $54,975,000 after buying an additional 566,520 shares during the period. Institutional investors and hedge funds own 35.74% of the company’s stock.
FHB has been the topic of several research reports. BidaskClub upgraded shares of First Hawaiian from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Zacks Investment Research lowered shares of First Hawaiian from a “hold” rating to a “sell” rating in a research note on Tuesday, September 26th. Barclays set a $32.00 price objective on shares of First Hawaiian and gave the company a “buy” rating in a research note on Wednesday, October 11th. UBS upped their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Finally, ValuEngine upgraded shares of First Hawaiian from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $32.50.
First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Thursday, October 26th. The bank reported $0.42 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. First Hawaiian had a net margin of 30.22% and a return on equity of 9.02%. The company had revenue of $133.32 million for the quarter, compared to analyst estimates of $136.44 million. During the same quarter in the prior year, the business posted $0.41 EPS. First Hawaiian’s quarterly revenue was up 8.7% on a year-over-year basis. equities research analysts forecast that First Hawaiian Inc will post 1.63 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Monday, November 27th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, November 24th. This represents a $0.88 annualized dividend and a dividend yield of 3.02%. First Hawaiian’s dividend payout ratio (DPR) is 53.66%.
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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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