UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in First Hawaiian, Inc. (NASDAQ:FHB – Free Report) by 6.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 320,125 shares of the bank’s stock after selling 20,803 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.26% of First Hawaiian worth $9,380,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. purchased a new stake in First Hawaiian during the 4th quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Hawaiian by 2,916.7% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,086 shares of the bank’s stock worth $27,000 after buying an additional 1,050 shares during the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of First Hawaiian by 378.5% in the second quarter. Elevation Wealth Partners LLC now owns 933 shares of the bank’s stock worth $27,000 after buying an additional 738 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of First Hawaiian by 45.7% during the fourth quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock worth $43,000 after buying an additional 534 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of First Hawaiian during the third quarter worth $47,000. Institutional investors and hedge funds own 97.63% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. The Goldman Sachs Group upped their target price on First Hawaiian from $27.00 to $30.00 and gave the company a “sell” rating in a research report on Tuesday, July 7th. TD Cowen dropped their price target on First Hawaiian from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Wednesday, July 29th. Wells Fargo & Company increased their price objective on First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a report on Monday, July 6th. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Finally, Zacks Research cut First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $30.25.
First Hawaiian Price Performance
NASDAQ FHB opened at $26.07 on Monday. The company has a market capitalization of $3.17 billion, a PE ratio of 11.33, a P/E/G ratio of 1.64 and a beta of 0.72. The company has a fifty day moving average of $27.94 and a 200 day moving average of $26.88. First Hawaiian, Inc. has a 1 year low of $22.65 and a 1 year high of $30.58.
First Hawaiian (NASDAQ:FHB – Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same period last year, the firm earned $0.58 EPS. Research analysts expect that First Hawaiian, Inc. will post 2.34 earnings per share for the current year.
First Hawaiian Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 17th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Monday, August 17th. First Hawaiian’s dividend payout ratio (DPR) is 45.22%.
First Hawaiian Company 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.
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