Invesco Ltd. Lowers Stock Position in First Hawaiian, Inc. $FHB

Invesco Ltd. reduced its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 5.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 596,208 shares of the bank’s stock after selling 37,359 shares during the period. Invesco Ltd. owned 0.47% of First Hawaiian worth $14,571,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FHB. Headlands Technologies LLC purchased a new position in shares of First Hawaiian during the 1st quarter valued at about $44,000. Versant Capital Management Inc grew its position in shares of First Hawaiian by 65.1% during the first 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 grew its position in shares of First Hawaiian by 26.0% during the first 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 grew its position in shares of First Hawaiian by 36.4% during the first 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 National Association UT bought a new stake in First Hawaiian during the 1st quarter valued at approximately $161,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Trading Up 3.7%

Shares of First Hawaiian stock opened at $25.51 on Friday. The stock has a 50 day moving average of $24.85 and a 200 day moving average of $24.55. First Hawaiian, Inc. has a 12 month low of $20.32 and a 12 month high of $28.80. The firm has a market cap of $3.18 billion, a PE ratio of 13.15, a PEG ratio of 5.99 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, July 25th. The bank reported $0.58 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 analyst estimates of $214.67 million. During the same period in the prior year, the company earned $0.48 earnings per share. As a group, equities research analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Monday, August 18th. First Hawaiian’s payout ratio is presently 53.61%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on First Hawaiian from $25.00 to $25.50 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Wells Fargo & Company lifted their target price on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Thursday, July 10th. Piper Sandler assumed coverage on First Hawaiian in a research note on Thursday. They set a “neutral” rating and a $26.00 target price on the stock. Barclays reissued an “underweight” rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Finally, Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Three research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average target price of $27.07.

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.