First Hawaiian, Inc. (NASDAQ:FHB) Position Cut by M&T Bank Corp

M&T Bank Corp trimmed its stake in First Hawaiian, Inc. (NASDAQ:FHBFree Report) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 14,902 shares of the bank’s stock after selling 1,091 shares during the quarter. M&T Bank Corp’s holdings in First Hawaiian were worth $341,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in FHB. The Manufacturers Life Insurance Company increased its holdings in shares of First Hawaiian by 17.8% during the third 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 period. Reinhart Partners LLC. increased its holdings in shares of First Hawaiian by 10.2% during the fourth quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock valued at $51,458,000 after purchasing an additional 207,652 shares during the period. Yacktman Asset Management LP increased its holdings in shares of First Hawaiian by 0.3% during the fourth quarter. Yacktman Asset Management LP now owns 1,936,687 shares of the bank’s stock valued at $44,273,000 after purchasing an additional 5,812 shares during the period. Bank of New York Mellon Corp grew its holdings 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 during the period. Finally, Northern Trust Corp raised its position in 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 in the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Trading Down 1.5 %

NASDAQ FHB opened at $22.05 on Thursday. The stock’s 50-day moving average price is $21.48 and its two-hundred day moving average price is $21.14. The company has a market cap of $2.82 billion, a PE ratio of 12.67 and a beta of 1.00. First Hawaiian, Inc. has a 1 year low of $16.17 and a 1 year high of $23.22.

First Hawaiian (NASDAQ:FHBGet Free Report) last posted its quarterly earnings data on Friday, April 26th. The bank reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 return on equity of 9.16% and a net margin of 19.20%. Research analysts forecast that First Hawaiian, Inc. will post 1.71 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be issued a dividend of $0.26 per share. The ex-dividend date is Friday, May 17th. This represents a $1.04 annualized dividend and a yield of 4.72%. First Hawaiian’s payout ratio is presently 59.77%.

Wall Street Analyst Weigh In

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

Read Our Latest Report on First Hawaiian

About First Hawaiian

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding FHB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Hawaiian, Inc. (NASDAQ:FHBFree Report).

Institutional Ownership by Quarter for First Hawaiian (NASDAQ:FHB)

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