Principal Financial Group Inc. Has $14.85 Million Stock Position in First Hawaiian, Inc. $FHB

Principal Financial Group Inc. lowered its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 3.6% during the third quarter, Holdings Channel reports. The fund owned 597,883 shares of the bank’s stock after selling 22,106 shares during the period. Principal Financial Group Inc.’s holdings in First Hawaiian were worth $14,845,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new stake in First Hawaiian during the 2nd quarter worth about $338,000. Capital Fund Management S.A. acquired a new stake in shares of First Hawaiian during the 2nd quarter worth approximately $1,098,000. Nisa Investment Advisors LLC raised its stake in shares of First Hawaiian by 840.1% during the third quarter. Nisa Investment Advisors LLC now owns 92,268 shares of the bank’s stock worth $2,291,000 after buying an additional 82,453 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in First Hawaiian by 11.2% in the second quarter. D.A. Davidson & CO. now owns 15,104 shares of the bank’s stock valued at $375,000 after buying an additional 1,519 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in First Hawaiian by 11.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,325,860 shares of the bank’s stock valued at $33,093,000 after buying an additional 135,809 shares during the period. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. The Goldman Sachs Group set a $27.50 target price on shares of First Hawaiian and gave the company a “sell” rating in a research report on Tuesday, January 6th. JPMorgan Chase & Co. lifted their price objective on First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 2nd. Keefe, Bruyette & Woods upped their price objective on First Hawaiian from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, October 28th. Piper Sandler reduced their target price on First Hawaiian from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, February 2nd. Finally, Zacks Research cut First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $27.50.

First Hawaiian Trading Down 0.1%

NASDAQ:FHB opened at $27.20 on Tuesday. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.35. The stock has a 50-day moving average price of $26.36 and a two-hundred day moving average price of $25.32. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 2.15 and a beta of 0.73.

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

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 3.8%. First Hawaiian’s payout ratio is presently 47.27%.

Insider Buying and Selling at First Hawaiian

In other news, insider Alan Arizumi sold 36,460 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.35, for a total transaction of $924,261.00. Following the completion of the sale, the insider owned 37,508 shares of the company’s stock, valued at $950,827.80. This represents a 49.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.

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.