First Hawaiian, Inc. $FHB Stock Sold by Reinhart Partners LLC.

Reinhart Partners LLC. decreased its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 25.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,974,446 shares of the bank’s stock after selling 686,430 shares during the quarter. Reinhart Partners LLC.’s holdings in First Hawaiian were worth $48,611,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Bank of America Corp DE purchased a new position in First Hawaiian during the 2nd quarter valued at about $53,105,000. BlackRock Inc. purchased a new stake in shares of First Hawaiian in the second quarter worth approximately $483,971,000. Ieq Capital LLC purchased a new stake in shares of First Hawaiian in the second quarter worth approximately $2,653,000. Bank of New York Mellon Corp acquired a new stake in shares of First Hawaiian during the second quarter worth approximately $32,977,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of First Hawaiian by 60.3% during the first quarter. Quantinno Capital Management LP now owns 1,798,815 shares of the bank’s stock worth $44,323,000 after purchasing an additional 676,433 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Sunday, September 27th. The Goldman Sachs Group increased their target price on shares of First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a research report on Tuesday, July 7th. JPMorgan Chase & Co. raised shares of First Hawaiian from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $30.00 to $29.00 in a research note on Thursday, October 1st. Benchmark restated a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Finally, Barclays upped their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 7th. Two research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $29.00.

First Hawaiian Stock Performance

FHB opened at $24.69 on Friday. The firm has a market cap of $3.00 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 1.29 and a beta of 0.76. The business has a 50 day moving average price of $26.04 and a 200 day moving average price of $26.95. First Hawaiian, Inc. has a twelve month low of $22.65 and a twelve month high of $30.58.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%. The company had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. During the same quarter last year, the company posted $0.58 earnings per share. As a group, analysts anticipate that First Hawaiian, Inc. will post 2.39 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 17th were paid a $0.26 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a yield of 4.2%. First Hawaiian’s dividend payout ratio (DPR) is presently 45.22%.

First Hawaiian Company Profile

First Hawaiian, Inc is a bank holding company headquartered in Honolulu, Hawaii, and the parent company of First Hawaiian Bank. Founded in 1858, First Hawaiian Bank is one of the oldest financial institutions in Hawaii and provides banking services to consumers, businesses, and government and institutional customers.

First Hawaiian Bank offers a range of financial products and services, including checking and savings accounts, certificates of deposit, residential and commercial real estate loans, consumer lending, credit cards, treasury management, online and mobile banking, and wealth management services.