Price T Rowe Associates Inc. MD lowered its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 87.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,087 shares of the bank’s stock after selling 361,918 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in First Hawaiian were worth $1,504,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. SkyView Investment Advisors LLC lifted its position in First Hawaiian by 282.9% during the first quarter. SkyView Investment Advisors LLC now owns 1,076 shares of the bank’s stock valued at $29,000 after purchasing an additional 795 shares during the last quarter. Allworth Financial LP lifted its position in First Hawaiian by 50.0% during the second quarter. Allworth Financial LP now owns 1,200 shares of the bank’s stock valued at $34,000 after purchasing an additional 400 shares during the last quarter. Eaton Vance Management bought a new position in First Hawaiian during the first quarter valued at $37,000. Van ECK Associates Corp bought a new position in First Hawaiian during the second quarter valued at $48,000. Finally, Eagle Bay Advisors LLC purchased a new stake in shares of First Hawaiian in the second quarter valued at $51,000. Institutional investors and hedge funds own 98.31% of the company’s stock.
Separately, Bank of America downgraded shares of First Hawaiian from a “neutral” rating to an “underperform” rating and set a $33.00 target price on the stock. in a research note on Friday, October 8th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, First Hawaiian currently has a consensus rating of “Hold” and a consensus target price of $30.25.
Shares of FHB opened at $28.15 on Thursday. First Hawaiian, Inc. has a twelve month low of $21.82 and a twelve month high of $30.80. The stock has a market capitalization of $3.63 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.29 and a beta of 1.20. The company has a fifty day moving average price of $28.17.
First Hawaiian (NASDAQ:FHB) last announced its earnings results on Thursday, October 21st. The bank reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.02. First Hawaiian had a net margin of 36.22% and a return on equity of 10.17%. During the same period in the prior year, the company earned $0.50 EPS. On average, analysts expect that First Hawaiian, Inc. will post 2.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 3rd. Investors of record on Monday, November 22nd will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, November 19th. First Hawaiian’s dividend payout ratio is presently 50.00%.
First Hawaiian Company Profile
First Hawaiian, Inc is a bank holding company, which engages in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other.
See Also: Technical Analysis
Want to see what other hedge funds are holding FHB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Hawaiian, Inc. (NASDAQ:FHB).
Receive News & Ratings for First Hawaiian Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Hawaiian and related companies with MarketBeat.com's FREE daily email newsletter.