NewEdge Wealth LLC Sells 17,862 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

NewEdge Wealth LLC cut its position in First Hawaiian, Inc. (NASDAQ:FHB) by 15.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,301 shares of the bank’s stock after selling 17,862 shares during the quarter. NewEdge Wealth LLC’s holdings in First Hawaiian were worth $2,603,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. CKW Financial Group raised its holdings in First Hawaiian by 1.2% in the 4th quarter. CKW Financial Group now owns 32,600 shares of the bank’s stock valued at $846,000 after acquiring an additional 400 shares in the last quarter. GAMMA Investing LLC raised its holdings in First Hawaiian by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank’s stock valued at $94,000 after acquiring an additional 461 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in First Hawaiian by 5.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank’s stock valued at $237,000 after acquiring an additional 488 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in First Hawaiian by 5.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,296 shares of the bank’s stock valued at $262,000 after acquiring an additional 569 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in First Hawaiian by 51.5% in the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after acquiring an additional 625 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Up 0.8 %

Shares of FHB opened at $26.91 on Friday. First Hawaiian, Inc. has a 12-month low of $19.48 and a 12-month high of $28.80. The business has a 50-day simple moving average of $26.48 and a two-hundred day simple moving average of $25.45. The stock has a market cap of $3.44 billion, a PE ratio of 15.03, a PEG ratio of 3.28 and a beta of 0.99.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same period in the previous year, the firm posted $0.37 earnings per share. On average, equities research analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.26 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a yield of 3.86%. First Hawaiian’s payout ratio is presently 58.10%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on First Hawaiian from $26.00 to $29.00 and gave the company a “sell” rating in a report on Monday, February 3rd. Barclays boosted their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Wells Fargo & Company boosted their price target on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target on First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their price target on First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, First Hawaiian currently has an average rating of “Hold” and an average target price of $29.00.

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.