Victory Capital Management Inc. reduced its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 25.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,613 shares of the bank’s stock after selling 5,382 shares during the quarter. Victory Capital Management Inc.’s holdings in First Hawaiian were worth $442,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. SkyView Investment Advisors LLC boosted its stake in shares of First Hawaiian by 282.9% in the first quarter. SkyView Investment Advisors LLC now owns 1,076 shares of the bank’s stock valued at $29,000 after purchasing an additional 795 shares during the period. Allworth Financial LP boosted its position in First Hawaiian by 50.0% in the 2nd quarter. Allworth Financial LP now owns 1,200 shares of the bank’s stock valued at $34,000 after buying an additional 400 shares during the period. Eaton Vance Management acquired a new position in shares of First Hawaiian in the first quarter worth $37,000. Eagle Bay Advisors LLC purchased a new stake in shares of First Hawaiian during the second quarter worth $51,000. Finally, Captrust Financial Advisors increased its position in shares of First Hawaiian by 914.2% during the first quarter. Captrust Financial Advisors now owns 2,637 shares of the bank’s stock worth $72,000 after acquiring an additional 2,377 shares during the period.
FHB has been the topic of several recent research reports. Zacks Investment Research upgraded First Hawaiian from a “sell” rating to a “hold” rating in a report on Tuesday, July 27th. Raymond James started coverage on shares of First Hawaiian in a research note on Wednesday, July 7th. They issued a “market perform” rating for the company. Finally, Wells Fargo & Company upgraded shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $23.00 to $28.00 in a report on Thursday, July 1st. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $25.10.
First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Saturday, July 24th. The bank reported $0.68 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.21. First Hawaiian had a net margin of 36.16% and a return on equity of 10.13%. The firm had revenue of $180.85 million for the quarter, compared to analyst estimates of $132.60 million. During the same period last year, the business earned $0.15 EPS. On average, equities research analysts predict that First Hawaiian, Inc. will post 2.07 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 3rd. Investors of record on Monday, August 23rd were given a $0.26 dividend. The ex-dividend date was Friday, August 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.90%. First Hawaiian’s dividend payout ratio (DPR) is presently 71.72%.
First Hawaiian Company Profile
First Hawaiian, Inc is a bank holding company, which engages in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other.
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