Handelsbanken Fonder AB Lowers Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Handelsbanken Fonder AB reduced its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 17.0% during the 4th quarter, HoldingsChannel reports. The fund owned 28,809 shares of the bank’s stock after selling 5,900 shares during the period. Handelsbanken Fonder AB’s holdings in First Hawaiian were worth $659,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Global Retirement Partners LLC boosted its holdings in First Hawaiian by 196.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,253 shares of the bank’s stock valued at $27,000 after acquiring an additional 831 shares during the last quarter. Quent Capital LLC raised its holdings in shares of First Hawaiian by 86.5% in the 4th quarter. Quent Capital LLC now owns 1,759 shares of the bank’s stock worth $40,000 after purchasing an additional 816 shares during the period. Signaturefd LLC lifted its stake in shares of First Hawaiian by 26.9% in the 4th quarter. Signaturefd LLC now owns 6,232 shares of the bank’s stock valued at $142,000 after purchasing an additional 1,320 shares in the last quarter. Janiczek Wealth Management LLC grew its holdings in shares of First Hawaiian by 22.7% during the 4th quarter. Janiczek Wealth Management LLC now owns 8,628 shares of the bank’s stock worth $197,000 after purchasing an additional 1,595 shares during the period. Finally, Landscape Capital Management L.L.C. acquired a new position in First Hawaiian during the third quarter valued at approximately $206,000. 97.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on FHB. Wells Fargo & Company raised their target price on shares of First Hawaiian from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Monday, January 29th. Barclays initiated coverage on First Hawaiian in a research report on Friday, March 8th. They issued an “equal weight” rating and a $25.00 price objective on the stock. Finally, StockNews.com upgraded First Hawaiian to a “sell” rating in a research note on Friday, January 19th. Three investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to MarketBeat, First Hawaiian presently has a consensus rating of “Reduce” and an average target price of $21.60.

First Hawaiian Price Performance

Shares of FHB stock opened at $21.51 on Tuesday. The company’s fifty day moving average price is $21.30 and its two-hundred day moving average price is $20.83. The firm has a market capitalization of $2.75 billion, a P/E ratio of 12.36 and a beta of 1.01. First Hawaiian, Inc. has a 12 month low of $15.08 and a 12 month high of $23.22.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, April 26th. The bank reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. First Hawaiian had a return on equity of 9.16% and a net margin of 19.20%. The business had revenue of $205.80 million for the quarter, compared to analysts’ expectations of $202.41 million. On average, sell-side analysts anticipate that First Hawaiian, Inc. will post 1.69 EPS for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Friday, May 17th. First Hawaiian’s payout ratio is currently 59.77%.

First Hawaiian Profile

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.