Vanguard Group Inc. Reduces Position in First Hawaiian, Inc. $FHB

Vanguard Group Inc. reduced its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,098,943 shares of the bank’s stock after selling 71,240 shares during the period. Vanguard Group Inc. owned about 11.40% of First Hawaiian worth $350,077,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in First Hawaiian during the 2nd quarter worth about $35,362,000. AQR Capital Management LLC boosted its holdings in First Hawaiian by 109.9% in the second quarter. AQR Capital Management LLC now owns 666,946 shares of the bank’s stock valued at $16,647,000 after purchasing an additional 349,231 shares in the last quarter. Quantinno Capital Management LP raised its holdings in First Hawaiian by 117.6% during the second quarter. Quantinno Capital Management LP now owns 312,038 shares of the bank’s stock worth $7,788,000 after purchasing an additional 168,649 shares in the last quarter. AlphaQuest LLC lifted its position in shares of 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 buying an additional 166,302 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of First Hawaiian by 1,034.4% in the 1st quarter. Jane Street Group LLC now owns 167,385 shares of the bank’s stock valued at $4,091,000 after buying an additional 152,630 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Insider Activity at First Hawaiian

In related news, insider Alan Arizumi sold 36,460 shares of First Hawaiian 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 transaction, the insider owned 37,508 shares in the company, valued at approximately $950,827.80. The trade was a 49.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Craig Scott Wo sold 1,500 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 45,026 shares of company stock worth $1,144,928 in the last 90 days. 0.61% of the stock is currently owned by insiders.

First Hawaiian Stock Down 4.4%

Shares of NASDAQ:FHB opened at $24.76 on Friday. The company has a market capitalization of $3.06 billion, a P/E ratio of 11.25, a P/E/G ratio of 2.05 and a beta of 0.73. First Hawaiian, Inc. has a 52-week low of $20.32 and a 52-week high of $28.35. The stock’s fifty day simple moving average is $26.44 and its 200-day simple moving average is $25.48.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $225.85 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.41 earnings per share. On average, sell-side analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, February 13th. First Hawaiian’s payout ratio is currently 47.27%.

Analyst Ratings Changes

FHB has been the topic of a number of research reports. Barclays raised First Hawaiian from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $26.00 to $28.00 in a report on Tuesday, November 11th. JPMorgan Chase & Co. increased their price target on First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Monday, February 2nd. TD Cowen restated a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. Zacks Research lowered shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a research note on Thursday, December 25th. Finally, Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a report on Saturday. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $27.50.

About First Hawaiian

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.