Ameriprise Financial Inc. Cuts Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Ameriprise Financial Inc. lowered its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 6.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 409,863 shares of the bank’s stock after selling 28,319 shares during the period. Ameriprise Financial Inc. owned 0.32% of First Hawaiian worth $10,636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of FHB. Jones Financial Companies Lllp purchased a new stake in First Hawaiian in the 4th quarter worth $36,000. Blue Trust Inc. increased its holdings in shares of First Hawaiian by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank’s stock worth $71,000 after purchasing an additional 904 shares during the last quarter. Global Retirement Partners LLC increased its holdings in shares of First Hawaiian by 32.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock worth $74,000 after purchasing an additional 693 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of First Hawaiian by 280.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank’s stock worth $103,000 after buying an additional 2,934 shares in the last quarter. Finally, KBC Group NV boosted its stake in First Hawaiian by 72.1% during the fourth quarter. KBC Group NV now owns 6,154 shares of the bank’s stock valued at $160,000 after buying an additional 2,579 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

FHB opened at $24.24 on Tuesday. The stock’s 50 day moving average price is $23.39 and its 200-day moving average price is $25.50. First Hawaiian, Inc. has a one year low of $19.48 and a one year high of $28.80. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 13.54, a P/E/G ratio of 3.28 and a beta of 0.82.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Wednesday, April 23rd. The bank reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $211.00 million for the quarter, compared to analyst estimates of $210.24 million. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. As a group, analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.04 dividend on an annualized basis and a yield of 4.29%. First Hawaiian’s dividend payout ratio is currently 56.52%.

Analysts Set New Price Targets

A number of research firms have issued reports on FHB. Wells Fargo & Company reduced their price objective on First Hawaiian from $24.00 to $22.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 9th. Barclays decreased their price target on shares of First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group lifted their price objective on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods decreased their target price on shares of First Hawaiian from $30.00 to $28.00 and set a “market perform” rating on the stock in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. dropped their price target on First Hawaiian from $26.00 to $25.00 and set an “underweight” rating for the company in a research report on Thursday, April 24th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, First Hawaiian has an average rating of “Hold” and a consensus price target of $27.29.

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.