First Hawaiian, Inc. (NASDAQ:FHB) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 19.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,488,535 shares of the bank’s stock after selling 359,551 shares during the period. Bank of New York Mellon Corp owned 1.18% of First Hawaiian worth $36,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Jones Financial Companies Lllp bought a new stake in shares of First Hawaiian in the 4th quarter worth approximately $36,000. Versant Capital Management Inc raised its holdings in shares of First Hawaiian by 65.1% in the 1st quarter. Versant Capital Management Inc now owns 3,128 shares of the bank’s stock worth $76,000 after purchasing an additional 1,233 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of First Hawaiian by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 4,462 shares of the bank’s stock worth $109,000 after purchasing an additional 920 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of First Hawaiian by 36.4% in the 1st quarter. GAMMA Investing LLC now owns 4,943 shares of the bank’s stock worth $121,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Zions Bancorporation N.A. bought a new stake in shares of First Hawaiian in the 4th quarter worth approximately $171,000. 97.63% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on FHB shares. Wells Fargo & Company boosted their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Thursday, July 10th. JPMorgan Chase & Co. boosted their target price on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an “underweight” rating in a report on Tuesday, July 1st. Keefe, Bruyette & Woods dropped 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 report on Thursday, April 24th. Finally, Barclays restated an “underweight” rating on shares of First Hawaiian in a report on Tuesday, July 8th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat.com, First Hawaiian presently has an average rating of “Reduce” and an average target price of $27.64.

First Hawaiian Price Performance

FHB stock opened at $26.04 on Tuesday. First Hawaiian, Inc. has a 52-week low of $20.32 and a 52-week high of $28.80. The company’s 50 day simple moving average is $24.36 and its 200-day simple moving average is $24.80. The firm has a market capitalization of $3.27 billion, a P/E ratio of 14.15, a P/E/G ratio of 4.67 and a beta of 0.83.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, beating 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 net margin of 20.36% and a return on equity of 8.99%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. Sell-side analysts predict that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.26 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.04 annualized dividend and a yield of 3.99%. First Hawaiian’s dividend payout ratio is presently 56.52%.

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.