New York State Common Retirement Fund Has $1.91 Million Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

New York State Common Retirement Fund lowered its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 13.5% during the fourth quarter, Holdings Channel reports. The firm owned 83,674 shares of the bank’s stock after selling 13,045 shares during the period. New York State Common Retirement Fund’s holdings in First Hawaiian were worth $1,913,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its stake in shares of First Hawaiian by 17.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock valued at $186,842,000 after purchasing an additional 1,561,662 shares during the last quarter. Reinhart Partners LLC. grew its position in First Hawaiian by 10.2% in the fourth quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock valued at $51,458,000 after acquiring an additional 207,652 shares during the last quarter. Yacktman Asset Management LP grew its position in First Hawaiian by 0.4% in the third quarter. Yacktman Asset Management LP now owns 1,930,875 shares of the bank’s stock valued at $34,852,000 after acquiring an additional 6,768 shares during the last quarter. Bank of New York Mellon Corp raised its stake in First Hawaiian by 12.4% during the third quarter. Bank of New York Mellon Corp now owns 1,879,410 shares of the bank’s stock worth $33,923,000 after acquiring an additional 207,383 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of First Hawaiian by 6.0% in the third quarter. Northern Trust Corp now owns 1,428,756 shares of the bank’s stock worth $25,789,000 after acquiring an additional 80,243 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

FHB has been the topic of several research reports. StockNews.com raised shares of First Hawaiian to a “sell” rating in a report on Friday, January 19th. Barclays started coverage on shares of First Hawaiian in a research note on Friday, March 8th. They set an “equal weight” rating and a $25.00 target price on the stock. Finally, Wells Fargo & Company increased their price target on First Hawaiian from $18.00 to $20.00 and gave the company an “underweight” rating in a research note on Monday, January 29th. Three investment analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to data from MarketBeat, First Hawaiian has an average rating of “Reduce” and a consensus price target of $21.75.

First Hawaiian Price Performance

Shares of FHB opened at $22.12 on Thursday. The business has a 50-day moving average of $21.39 and a 200-day moving average of $20.99. First Hawaiian, Inc. has a 1 year low of $15.08 and a 1 year high of $23.22. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of 12.71 and a beta of 1.00.

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

First Hawaiian Dividend Announcement

The company 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 $0.26 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.70%. First Hawaiian’s dividend payout ratio (DPR) 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.