First Hawaiian, Inc. $FHB Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 68.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,132 shares of the bank’s stock after selling 103,071 shares during the period. Allianz Asset Management GmbH’s holdings in First Hawaiian were worth $1,170,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. AlphaQuest LLC lifted its position in First Hawaiian by 7,621.5% during the 3rd quarter. AlphaQuest LLC now owns 168,484 shares of the bank’s stock worth $4,183,000 after acquiring an additional 166,302 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of First Hawaiian by 15.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 14,201 shares of the bank’s stock worth $353,000 after purchasing an additional 1,861 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of First Hawaiian during the third quarter worth about $338,000. Wealth Enhancement Advisory Services LLC boosted its position in First Hawaiian by 124.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 31,012 shares of the bank’s stock valued at $767,000 after buying an additional 17,172 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in First Hawaiian by 20.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 16,277 shares of the bank’s stock worth $404,000 after buying an additional 2,733 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Performance

Shares of FHB stock opened at $26.30 on Friday. First Hawaiian, Inc. has a fifty-two week low of $20.32 and a fifty-two week high of $28.35. The stock’s fifty day moving average is $26.47 and its two-hundred day moving average is $25.36. The firm has a market capitalization of $3.25 billion, a P/E ratio of 11.95, a PEG ratio of 2.06 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $199.68 million for the quarter, compared to analyst estimates of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same period last year, the company posted $0.41 EPS. On average, equities analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a $0.26 dividend. The ex-dividend date is Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. First Hawaiian’s payout ratio is currently 47.27%.

Insider Buying and Selling at First Hawaiian

In other news, Director Craig Scott Wo sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Alan Arizumi sold 36,460 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $25.35, for a total value of $924,261.00. Following the transaction, the insider owned 37,508 shares in the company, valued at $950,827.80. This trade represents a 49.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 45,026 shares of company stock worth $1,144,928. Corporate insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

FHB has been the topic of several recent research reports. Piper Sandler lowered their price target on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, February 2nd. JPMorgan Chase & Co. upped their target price on First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 2nd. Barclays raised First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $26.00 to $28.00 in a report on Tuesday, November 11th. TD Cowen reissued a “hold” rating on shares of First Hawaiian in a report on Monday, February 2nd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of First Hawaiian in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $27.50.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.