LRI Investments LLC Sells 1,276 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

LRI Investments LLC reduced its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 20.9% during the first quarter, Holdings Channel.com reports. The fund owned 4,825 shares of the bank’s stock after selling 1,276 shares during the quarter. LRI Investments LLC’s holdings in First Hawaiian were worth $118,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new stake in shares of First Hawaiian in the 4th quarter worth approximately $36,000. Versant Capital Management Inc increased its stake in First Hawaiian by 65.1% during the 1st quarter. Versant Capital Management Inc now owns 3,128 shares of the bank’s stock valued at $76,000 after purchasing an additional 1,233 shares in the last quarter. Parallel Advisors LLC increased its stake in First Hawaiian by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 4,462 shares of the bank’s stock valued at $109,000 after purchasing an additional 920 shares in the last quarter. GAMMA Investing LLC increased its stake in First Hawaiian by 36.4% during the 1st quarter. GAMMA Investing LLC now owns 4,943 shares of the bank’s stock valued at $121,000 after purchasing an additional 1,319 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new stake in shares of First Hawaiian in the fourth quarter worth $171,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FHB shares. JPMorgan Chase & Co. increased their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an “underweight” rating in a research note on Tuesday, July 1st. Wells Fargo & Company increased their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research note on Thursday, July 10th. Keefe, Bruyette & Woods cut their price objective on shares of First Hawaiian from $30.00 to $28.00 and set a “market perform” rating on the stock in a research note on Thursday, April 24th. Finally, Barclays reiterated an “underweight” rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $27.64.

First Hawaiian Stock Performance

FHB stock opened at $26.04 on Tuesday. The firm has a market cap of $3.27 billion, a PE ratio of 14.15, a P/E/G ratio of 4.67 and a beta of 0.83. The firm’s fifty day moving average is $24.36 and its 200 day moving average is $24.80. First Hawaiian, Inc. has a one year low of $20.32 and a one year high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $211.00 million for the quarter, compared to analyst estimates of $210.24 million. First Hawaiian had a net margin of 20.36% and a return on equity of 8.99%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business earned $0.42 earnings per share. Research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $1.04 annualized dividend and a yield of 3.99%. First Hawaiian’s dividend payout ratio is presently 56.52%.

First Hawaiian Company Profile

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.