First Hawaiian, Inc. (NASDAQ:FHB) Stock Position Decreased by Millennium Management LLC

Millennium Management LLC cut its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 81.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,748 shares of the bank’s stock after selling 233,234 shares during the quarter. Millennium Management LLC’s holdings in First Hawaiian were worth $1,369,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Ethic Inc. boosted its stake in shares of First Hawaiian by 70.8% during the 4th quarter. Ethic Inc. now owns 30,381 shares of the bank’s stock worth $788,000 after acquiring an additional 12,594 shares in the last quarter. Balyasny Asset Management L.P. boosted its stake in shares of First Hawaiian by 427.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 617,717 shares of the bank’s stock worth $16,030,000 after acquiring an additional 500,535 shares in the last quarter. Northern Trust Corp boosted its stake in shares of First Hawaiian by 10.7% during the 4th quarter. Northern Trust Corp now owns 2,188,005 shares of the bank’s stock worth $56,779,000 after acquiring an additional 211,399 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of First Hawaiian during the 4th quarter worth $239,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of First Hawaiian by 9.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 78,156 shares of the bank’s stock worth $2,029,000 after acquiring an additional 6,439 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on FHB. Wells Fargo & Company decreased their target price on First Hawaiian from $24.00 to $22.00 and set an “underweight” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reduced their price objective on First Hawaiian from $26.00 to $25.00 and set an “underweight” rating for the company in a research note on Thursday, April 24th. Barclays decreased their price objective on First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods dropped their target price on First Hawaiian from $30.00 to $28.00 and set a “market perform” rating on the stock in a report on Thursday, April 24th. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, First Hawaiian has a consensus rating of “Hold” and a consensus target price of $27.29.

First Hawaiian Trading Up 1.9%

NASDAQ FHB opened at $23.93 on Wednesday. First Hawaiian, Inc. has a 1-year low of $19.48 and a 1-year high of $28.80. The firm’s fifty day simple moving average is $23.20 and its 200-day simple moving average is $25.26. The company has a market capitalization of $3.01 billion, a PE ratio of 13.37, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82.

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

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were issued a $0.26 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.04 dividend on an annualized basis and a yield of 4.35%. First Hawaiian’s dividend payout ratio is currently 56.52%.

About First Hawaiian

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.