Mutual of America Capital Management LLC Sells 2,260 Shares of First Hawaiian, Inc. $FHB

Mutual of America Capital Management LLC cut its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 12.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,150 shares of the bank’s stock after selling 2,260 shares during the period. Mutual of America Capital Management LLC’s holdings in First Hawaiian were worth $403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its stake in shares of First Hawaiian by 199.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank’s stock valued at $26,000 after buying an additional 705 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of First Hawaiian during the 1st quarter valued at $44,000. GAMMA Investing LLC lifted its stake in shares of First Hawaiian by 36.4% during the 1st quarter. GAMMA Investing LLC now owns 4,943 shares of the bank’s stock valued at $121,000 after buying an additional 1,319 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of First Hawaiian during the 1st quarter valued at $134,000. Finally, Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of First Hawaiian during the 2nd quarter valued at $154,000. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Performance

Shares of NASDAQ FHB opened at $25.03 on Wednesday. The company has a market cap of $3.12 billion, a P/E ratio of 12.21, a P/E/G ratio of 3.63 and a beta of 0.84. The firm’s fifty day moving average is $24.96 and its two-hundred day moving average is $24.44. First Hawaiian, Inc. has a 52-week low of $20.32 and a 52-week high of $28.80.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Monday, August 9th. The bank reported $0.44 earnings per share (EPS) for the quarter. First Hawaiian had a net margin of 22.60% and a return on equity of 9.68%. The company had revenue of $129.16 million for the quarter. As a group, analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 17th will be issued a $0.26 dividend. The ex-dividend date is Monday, November 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. First Hawaiian’s payout ratio is 50.73%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on FHB shares. JPMorgan Chase & Co. lifted their target price on shares of First Hawaiian from $26.00 to $27.00 and gave the company an “underweight” rating in a research note on Monday. Weiss Ratings cut shares of First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday. Piper Sandler lifted their target price on shares of First Hawaiian from $27.00 to $28.00 and gave the company a “neutral” rating in a research note on Monday. Barclays lifted their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the company an “underweight” rating in a research note on Monday. Finally, Cowen reiterated a “hold” rating on shares of First Hawaiian in a report on Tuesday. Six research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $27.50.

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.