California Public Employees Retirement System Cuts Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

California Public Employees Retirement System lessened its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 12.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 246,014 shares of the bank’s stock after selling 35,458 shares during the quarter. California Public Employees Retirement System’s holdings in First Hawaiian were worth $5,624,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its position in shares of First Hawaiian by 196.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,253 shares of the bank’s stock valued at $27,000 after purchasing an additional 831 shares in the last quarter. Quent Capital LLC boosted its stake in First Hawaiian by 86.5% during the 4th quarter. Quent Capital LLC now owns 1,759 shares of the bank’s stock valued at $40,000 after acquiring an additional 816 shares during the last quarter. Signaturefd LLC grew its holdings in First Hawaiian by 26.9% during the 4th quarter. Signaturefd LLC now owns 6,232 shares of the bank’s stock worth $142,000 after acquiring an additional 1,320 shares in the last quarter. Janiczek Wealth Management LLC increased its position in shares of First Hawaiian by 22.7% in 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 last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of First Hawaiian during the third quarter worth about $206,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Barclays assumed coverage on First Hawaiian in a report on Friday, March 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. Wells Fargo & Company raised their price objective on First Hawaiian from $18.00 to $20.00 and gave the stock an “underweight” rating in a research note on Monday, January 29th. Finally, StockNews.com upgraded shares of First Hawaiian to a “sell” rating in a research note on Friday, January 19th. Three research analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $21.75.

First Hawaiian Trading Up 0.4 %

NASDAQ:FHB opened at $21.78 on Friday. The stock has a 50 day moving average of $21.32 and a 200-day moving average of $20.91. The firm has a market capitalization of $2.78 billion, a PE ratio of 12.52 and a beta of 1.00. First Hawaiian, Inc. has a 52 week low of $15.08 and a 52 week high of $23.22.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, April 26th. The bank reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. First Hawaiian had a return on equity of 9.16% and a net margin of 19.20%. The firm had revenue of $205.80 million during the quarter, compared to the consensus estimate of $202.41 million. As a group, analysts predict that First Hawaiian, Inc. will post 1.71 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.78%. First Hawaiian’s dividend payout ratio (DPR) is presently 59.77%.

First Hawaiian Company 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.