Public Employees Retirement System of Ohio Sells 615 Shares of First Hawaiian, Inc. $FHB

Public Employees Retirement System of Ohio trimmed its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,424 shares of the bank’s stock after selling 615 shares during the period. Public Employees Retirement System of Ohio’s holdings in First Hawaiian were worth $1,034,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FHB. GAMMA Investing LLC lifted its stake in shares of First Hawaiian by 3,233.5% in the 1st quarter. GAMMA Investing LLC now owns 120,807 shares of the bank’s stock valued at $2,953,000 after purchasing an additional 117,183 shares during the last quarter. Parallel Advisors LLC lifted its stake 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 valued at $109,000 after purchasing an additional 920 shares during the last quarter. Reinhart Partners LLC. lifted its stake in shares of First Hawaiian by 15.1% in the 1st quarter. Reinhart Partners LLC. now owns 2,325,881 shares of the bank’s stock valued at $56,845,000 after purchasing an additional 305,439 shares during the last quarter. Impact Capital Partners LLC lifted its stake in shares of First Hawaiian by 9.1% in the 1st quarter. Impact Capital Partners LLC now owns 22,676 shares of the bank’s stock valued at $554,000 after purchasing an additional 1,891 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of First Hawaiian by 15.1% in the 1st quarter. Harbor Capital Advisors Inc. now owns 524,555 shares of the bank’s stock valued at $12,820,000 after purchasing an additional 68,727 shares during the last quarter. 97.63% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FHB. JPMorgan Chase & Co. raised their price objective on First Hawaiian from $25.00 to $25.50 and gave the company an “underweight” rating in a research note on Tuesday, July 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of First Hawaiian in a research note on Saturday, September 27th. Wells Fargo & Company raised their price target on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, July 10th. Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Finally, Cowen started coverage on First Hawaiian in a research note on Wednesday, September 24th. They set a “hold” rating for the company. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $27.06.

First Hawaiian Stock Performance

Shares of FHB opened at $24.61 on Friday. The stock has a 50-day moving average of $25.04 and a two-hundred day moving average of $24.34. First Hawaiian, Inc. has a one year low of $20.32 and a one year high of $28.80. The stock has a market cap of $3.07 billion, a P/E ratio of 12.69, a P/E/G ratio of 5.96 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Friday, July 25th. The bank reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.09. The business had revenue of $217.54 million during the quarter, compared to analysts’ expectations of $214.67 million. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.During the same quarter in the previous year, the firm posted $0.48 EPS. 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, August 29th. Stockholders of record on Monday, August 18th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, August 18th. First Hawaiian’s payout ratio is 53.61%.

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.