US Bancorp DE Sells 781 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

US Bancorp DE lowered its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 12.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,327 shares of the bank’s stock after selling 781 shares during the quarter. US Bancorp DE’s holdings in First Hawaiian were worth $130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FHB. Illinois Municipal Retirement Fund increased its holdings in First Hawaiian by 4.0% in the first quarter. Illinois Municipal Retirement Fund now owns 70,300 shares of the bank’s stock valued at $1,718,000 after purchasing an additional 2,678 shares during the last quarter. Principal Financial Group Inc. increased its holdings in First Hawaiian by 1.3% in the first quarter. Principal Financial Group Inc. now owns 627,695 shares of the bank’s stock valued at $15,341,000 after purchasing an additional 7,981 shares during the last quarter. GAMMA Investing LLC increased its holdings in First Hawaiian by 36.4% in the first quarter. GAMMA Investing LLC now owns 4,943 shares of the bank’s stock valued at $121,000 after purchasing an additional 1,319 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of First Hawaiian by 25.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 12,864 shares of the bank’s stock worth $314,000 after acquiring an additional 2,617 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in First Hawaiian by 11.2% during the 1st quarter. M&T Bank Corp now owns 18,524 shares of the bank’s stock worth $453,000 after buying an additional 1,863 shares during the period. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

FHB has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on First Hawaiian from $25.00 to $25.50 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Keefe, Bruyette & Woods reduced their price objective on First Hawaiian from $30.00 to $28.00 and set a “market perform” rating for the company in a research report on Thursday, April 24th. Barclays reaffirmed an “underweight” rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Wells Fargo & Company upped their price objective on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Thursday, July 10th. Four analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.64.

First Hawaiian Stock Performance

Shares of NASDAQ FHB opened at $24.50 on Friday. The stock has a 50 day moving average price of $24.77 and a 200 day moving average price of $24.62. First Hawaiian, Inc. has a 52 week low of $20.32 and a 52 week high of $28.80. The stock has a market capitalization of $3.05 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 5.97 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, July 25th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.09. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%. The company had revenue of $217.54 million during the quarter, compared to analysts’ expectations of $214.67 million. During the same period last year, the firm posted $0.48 earnings per share. As a group, research analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, August 18th. First Hawaiian’s dividend payout ratio (DPR) is presently 53.61%.

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.