Strs Ohio Sells 70,731 Shares of First Hawaiian, Inc. $FHB

Strs Ohio lessened its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 95.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,994 shares of the bank’s stock after selling 70,731 shares during the period. Strs Ohio’s holdings in First Hawaiian were worth $74,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in shares of First Hawaiian during the second quarter valued at approximately $338,000. Capital Fund Management S.A. purchased a new position in First Hawaiian during the 2nd quarter valued at $1,098,000. Nisa Investment Advisors LLC grew its position in First Hawaiian by 840.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 92,268 shares of the bank’s stock valued at $2,291,000 after acquiring an additional 82,453 shares during the last quarter. D.A. Davidson & CO. grew its position in First Hawaiian by 11.2% in the 2nd quarter. D.A. Davidson & CO. now owns 15,104 shares of the bank’s stock valued at $375,000 after acquiring an additional 1,519 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of First Hawaiian by 11.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,325,860 shares of the bank’s stock worth $33,093,000 after purchasing an additional 135,809 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Hawaiian

In other news, insider Alan Arizumi sold 36,460 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.35, for a total value of $924,261.00. Following the completion of the transaction, the insider owned 37,508 shares of the company’s stock, valued at $950,827.80. The trade was a 49.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on FHB. Piper Sandler decreased their target price on First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday. TD Cowen reaffirmed a “hold” rating on shares of First Hawaiian in a research report on Monday. JPMorgan Chase & Co. boosted their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a report on Monday. Keefe, Bruyette & Woods raised their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “market perform” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Hawaiian in a research report on Monday, December 29th. Six investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, First Hawaiian currently has an average rating of “Reduce” and an average price target of $27.50.

First Hawaiian Stock Up 2.2%

Shares of NASDAQ FHB opened at $27.12 on Thursday. First Hawaiian, Inc. has a 52 week low of $20.32 and a 52 week high of $28.35. The business’s 50 day moving average price is $26.25 and its 200 day moving average price is $25.29. The firm has a market cap of $3.36 billion, a P/E ratio of 12.33, a P/E/G ratio of 1.89 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, January 30th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The business had revenue of $199.68 million during the quarter, compared to analysts’ expectations of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same period in the previous year, the business posted $0.41 EPS. As a group, research analysts expect that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, February 13th. First Hawaiian’s dividend payout ratio (DPR) is currently 47.27%.

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.