Renaissance Technologies LLC Sells 145,600 Shares of First Hawaiian, Inc. $FHB

Renaissance Technologies LLC trimmed its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 36.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 248,900 shares of the bank’s stock after selling 145,600 shares during the quarter. Renaissance Technologies LLC’s holdings in First Hawaiian were worth $6,133,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of First Hawaiian during the fourth quarter worth $40,281,000. AQR Capital Management LLC lifted its stake in shares of First Hawaiian by 230.8% during the 3rd quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank’s stock worth $54,784,000 after purchasing an additional 1,539,415 shares during the last quarter. UBS Group AG boosted its holdings in shares of First Hawaiian by 176.0% in the 4th quarter. UBS Group AG now owns 1,128,002 shares of the bank’s stock valued at $28,538,000 after buying an additional 719,312 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in First Hawaiian by 96.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,096,002 shares of the bank’s stock valued at $27,729,000 after acquiring an additional 537,841 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in First Hawaiian by 35.5% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,853,300 shares of the bank’s stock worth $46,888,000 after acquiring an additional 485,149 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Up 0.9%

FHB stock opened at $28.25 on Wednesday. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.77 and a beta of 0.73. First Hawaiian, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $30.58. The business has a 50 day moving average price of $28.49 and a 200 day moving average price of $26.92.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $231.27 million for the quarter, compared to the consensus estimate of $227.77 million. First Hawaiian had a return on equity of 10.27% and a net margin of 24.41%.During the same quarter last year, the business posted $0.58 EPS. As a group, sell-side analysts anticipate that First Hawaiian, Inc. will post 2.34 EPS for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 17th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, August 17th. First Hawaiian’s dividend payout ratio (DPR) is currently 45.22%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FHB. Wells Fargo & Company lifted their target price on First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a report on Monday, July 6th. Piper Sandler lifted their price target on First Hawaiian from $29.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. upped their price objective on shares of First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 1st. Weiss Ratings restated a “buy (b)” rating on shares of First Hawaiian in a research report on Monday, July 6th. Finally, Zacks Research raised shares of First Hawaiian from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.12.

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.