Los Angeles Capital Management LLC Decreases Stock Holdings in First Hawaiian, Inc. $FHB

Los Angeles Capital Management LLC reduced its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 66.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,275 shares of the bank’s stock after selling 119,952 shares during the period. Los Angeles Capital Management LLC’s holdings in First Hawaiian were worth $1,529,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bank of Montreal Can lifted its position in First Hawaiian by 1.7% during the second quarter. Bank of Montreal Can now owns 25,258 shares of the bank’s stock worth $630,000 after buying an additional 422 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of First Hawaiian by 2.9% during the 1st quarter. Voya Investment Management LLC now owns 15,918 shares of the bank’s stock worth $389,000 after acquiring an additional 448 shares during the period. SummerHaven Investment Management LLC boosted its position in shares of First Hawaiian by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 37,109 shares of the bank’s stock valued at $926,000 after acquiring an additional 616 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of First Hawaiian by 5.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 12,340 shares of the bank’s stock valued at $308,000 after acquiring an additional 672 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of First Hawaiian by 199.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank’s stock valued at $26,000 after purchasing an additional 705 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Stock Performance

Shares of FHB opened at $24.89 on Wednesday. The company’s 50-day simple moving average is $24.78 and its 200-day simple moving average is $24.60. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.80. The stock has a market capitalization of $3.08 billion, a PE ratio of 12.14, a P/E/G ratio of 3.53 and a beta of 0.91.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Monday, August 9th. The bank reported $0.44 earnings per share for the quarter. First Hawaiian had a net margin of 22.60% and a return on equity of 9.68%. The firm had revenue of $129.16 million for the quarter. On average, sell-side analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be issued a $0.26 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.2%. First Hawaiian’s dividend payout ratio (DPR) is 50.73%.

Analyst Upgrades and Downgrades

FHB has been the topic of a number of analyst reports. Weiss Ratings downgraded shares of First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. TD Cowen assumed coverage on First Hawaiian in a research report on Thursday, September 25th. They issued a “hold” rating and a $27.00 price objective for the company. Piper Sandler lifted their target price on First Hawaiian from $27.00 to $28.00 and gave the company a “neutral” rating in a research report on Monday, October 27th. Finally, JPMorgan Chase & Co. upped their price target on First Hawaiian from $26.00 to $27.00 and gave the company an “underweight” rating in a research note on Monday, October 27th. Seven research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $27.75.

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.