The Manufacturers Life Insurance Company lessened its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 6.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,910,337 shares of the bank’s stock after selling 438,705 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in First Hawaiian were worth $161,766,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Norges Bank bought a new position in shares of First Hawaiian during the 4th quarter valued at approximately $38,836,000. Fenimore Asset Management Inc. purchased a new stake in shares of First Hawaiian during the 4th quarter worth $20,862,000. BlackRock Inc. lifted its stake in shares of First Hawaiian by 5.0% during the 4th quarter. BlackRock Inc. now owns 16,331,401 shares of the bank’s stock worth $385,095,000 after purchasing an additional 782,707 shares during the last quarter. SummerHaven Investment Management LLC purchased a new stake in shares of First Hawaiian during the 4th quarter worth $628,000. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in First Hawaiian during the 4th quarter valued at about $9,475,000. 99.10% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research raised First Hawaiian from a “sell” rating to a “hold” rating and set a $31.00 target price on the stock in a research report on Monday, April 5th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. First Hawaiian has an average rating of “Hold” and an average price target of $19.58.
First Hawaiian (NASDAQ:FHB) last issued its earnings results on Thursday, April 22nd. The bank reported $0.44 EPS for the quarter, hitting analysts’ consensus estimates of $0.44. The firm had revenue of $129.16 million for the quarter, compared to the consensus estimate of $131.99 million. First Hawaiian had a return on equity of 7.27% and a net margin of 24.17%. The company’s revenue was down 6.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 earnings per share. As a group, equities analysts anticipate that First Hawaiian, Inc. will post 1.37 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 4th. Shareholders of record on Monday, May 24th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, May 21st. This represents a $1.04 dividend on an annualized basis and a yield of 3.69%. First Hawaiian’s dividend payout ratio is currently 47.49%.
First Hawaiian Company Profile
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking 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 accepts various deposit products, including checking and savings accounts, and time deposit accounts.
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