Truist Financial Corp Lowers Position in First Hawaiian, Inc. $FHB

Truist Financial Corp decreased its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 26.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,460 shares of the bank’s stock after selling 2,996 shares during the quarter. Truist Financial Corp’s holdings in First Hawaiian were worth $211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SummerHaven Investment Management LLC grew its stake in shares of First Hawaiian by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 37,109 shares of the bank’s stock worth $926,000 after acquiring an additional 616 shares during the period. State of Alaska Department of Revenue grew its stake in shares of First Hawaiian by 2.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 174,009 shares of the bank’s stock worth $4,341,000 after acquiring an additional 4,844 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of First Hawaiian during the 2nd quarter worth $154,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of First Hawaiian by 7.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 13,840 shares of the bank’s stock worth $366,000 after acquiring an additional 976 shares during the period. Finally, Reinhart Partners LLC. grew its stake in shares of First Hawaiian by 0.7% during the 2nd quarter. Reinhart Partners LLC. now owns 2,343,300 shares of the bank’s stock worth $58,489,000 after acquiring an additional 17,419 shares during the period. Institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on FHB shares. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Cowen initiated coverage on First Hawaiian in a research note on Wednesday, September 24th. They issued a “hold” rating for the company. Wells Fargo & Company raised their target price on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, July 10th. JPMorgan Chase & Co. raised their target price on First Hawaiian from $25.00 to $25.50 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of First Hawaiian in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $27.06.

First Hawaiian Trading Up 2.0%

Shares of FHB opened at $23.23 on Friday. The company has a market cap of $2.90 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 3.42 and a beta of 0.84. The stock has a 50-day moving average price of $25.02 and a 200-day moving average price of $24.31. First Hawaiian, Inc. has a 12-month low of $20.32 and a 12-month high of $28.80.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Monday, August 9th. The bank reported $0.44 earnings per share (EPS) for the quarter. The firm had revenue of $129.16 million during the quarter. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%. As a group, analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Monday, August 18th were given a $0.26 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.5%. First Hawaiian’s payout ratio is presently 53.61%.

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.