Alaska Permanent Fund Corp Has $2.33 Million Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Alaska Permanent Fund Corp cut its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 16.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,834 shares of the bank’s stock after selling 20,366 shares during the period. Alaska Permanent Fund Corp owned 0.08% of First Hawaiian worth $2,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Golden State Equity Partners increased its stake in First Hawaiian by 12.7% during the 3rd quarter. Golden State Equity Partners now owns 15,655 shares of the bank’s stock worth $283,000 after purchasing an additional 1,760 shares in the last quarter. Raymond James & Associates grew its stake in shares of First Hawaiian by 2.0% during the 3rd quarter. Raymond James & Associates now owns 910,766 shares of the bank’s stock worth $16,439,000 after acquiring an additional 18,105 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of First Hawaiian by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,879,410 shares of the bank’s stock worth $33,923,000 after acquiring an additional 207,383 shares in the last quarter. Reinhart Partners LLC. grew its stake in shares of First Hawaiian by 6.5% during the 3rd quarter. Reinhart Partners LLC. now owns 2,043,357 shares of the bank’s stock worth $36,883,000 after acquiring an additional 124,590 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Hawaiian by 16.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,103 shares of the bank’s stock worth $453,000 after acquiring an additional 3,559 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Price Performance

First Hawaiian stock traded down $0.25 during mid-day trading on Thursday, hitting $21.96. 60,184 shares of the company’s stock traded hands, compared to its average volume of 684,470. The firm has a 50 day simple moving average of $21.29 and a two-hundred day simple moving average of $20.74. First Hawaiian, Inc. has a fifty-two week low of $15.08 and a fifty-two week high of $23.22. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 12.07 and a beta of 1.01.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, January 26th. The bank reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.08). First Hawaiian had a net margin of 20.90% and a return on equity of 9.87%. The business had revenue of $210.14 million for the quarter, compared to analyst estimates of $201.09 million. During the same period in the prior year, the business earned $0.62 EPS. On average, research analysts anticipate that First Hawaiian, Inc. will post 1.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays assumed coverage on First Hawaiian in a report on Friday, March 8th. They issued an “equal weight” rating and a $25.00 price objective for the company. StockNews.com raised First Hawaiian to a “sell” rating in a report on Friday, January 19th. Finally, Wells Fargo & Company increased their price objective on First Hawaiian from $18.00 to $20.00 and gave the company an “underweight” rating in a report on Monday, January 29th. Three investment analysts have rated the stock with a sell rating and one has issued a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $21.60.

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.