TD Waterhouse Canada Inc. Sells 27,425 Shares of First Hawaiian, Inc. $FHB

TD Waterhouse Canada Inc. trimmed its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 69.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 12,321 shares of the bank’s stock after selling 27,425 shares during the period. TD Waterhouse Canada Inc.’s holdings in First Hawaiian were worth $372,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FHB. iSAM Funds UK Ltd bought a new position in First Hawaiian during the 2nd quarter valued at approximately $1,169,000. Nykredit A S bought a new stake in First Hawaiian in the second quarter worth $65,000. Wellington Management Group LLP boosted its holdings in First Hawaiian by 14.0% in the second quarter. Wellington Management Group LLP now owns 884,450 shares of the bank’s stock worth $25,914,000 after acquiring an additional 108,459 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of First Hawaiian in the second quarter worth $1,581,000. Finally, United Capital Financial Advisors LLC bought a new position in shares of First Hawaiian during the second quarter valued at $307,000. 97.63% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FHB. TD Cowen lowered their price target on First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Wednesday, July 29th. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Monday, July 6th. The Goldman Sachs Group lifted their target price on shares of First Hawaiian from $27.00 to $30.00 and gave the stock a “sell” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. upped their target price on shares of First Hawaiian from $27.00 to $31.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 1st. Finally, Zacks Research cut shares of First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, First Hawaiian presently has an average rating of “Reduce” and a consensus target price of $30.25.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB opened at $25.67 on Friday. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 1.61 and a beta of 0.72. The business has a 50-day simple moving average of $27.63 and a two-hundred day simple moving average of $26.87. First Hawaiian, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $30.58.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, July 24th. The bank reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. The firm 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 firm posted $0.58 EPS. As a group, research analysts predict that First Hawaiian, Inc. will post 2.34 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Monday, August 17th were issued a $0.26 dividend. The ex-dividend date was Monday, August 17th. This represents a $1.04 annualized dividend and a yield of 4.1%. First Hawaiian’s dividend payout ratio (DPR) is currently 45.22%.

First Hawaiian 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.