Teachers Retirement System of The State of Kentucky reduced its position in shares of First Hawaiian Inc (NYSE:FHB) by 32.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,925 shares of the bank’s stock after selling 10,475 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in First Hawaiian were worth $656,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FHB. Vanguard Group Inc. increased its position in shares of First Hawaiian by 149.2% in the first quarter. Vanguard Group Inc. now owns 3,908,897 shares of the bank’s stock worth $116,954,000 after buying an additional 2,340,324 shares during the last quarter. Wellington Management Group LLP increased its position in shares of First Hawaiian by 459.1% in the first quarter. Wellington Management Group LLP now owns 3,546,109 shares of the bank’s stock worth $106,100,000 after buying an additional 2,911,800 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of First Hawaiian by 49.1% in the first quarter. JPMorgan Chase & Co. now owns 3,050,091 shares of the bank’s stock worth $91,258,000 after buying an additional 1,004,303 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of First Hawaiian by 212.8% in the first quarter. Neuberger Berman Group LLC now owns 2,931,859 shares of the bank’s stock worth $87,721,000 after buying an additional 1,994,659 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of First Hawaiian by 32.5% in the first quarter. Victory Capital Management Inc. now owns 1,943,201 shares of the bank’s stock worth $58,141,000 after buying an additional 477,092 shares during the last quarter.
Shares of First Hawaiian Inc (NYSE:FHB) opened at 29.93 on Thursday. The firm’s 50-day moving average price is $29.91 and its 200-day moving average price is $30.43. The firm has a market capitalization of $4.18 billion and a PE ratio of 18.86. First Hawaiian Inc has a 52-week low of $23.00 and a 52-week high of $35.47.
First Hawaiian (NYSE:FHB) last posted its earnings results on Thursday, April 27th. The bank reported $0.41 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The company had revenue of $129.30 million during the quarter, compared to analyst estimates of $138.54 million. First Hawaiian had a return on equity of 9.14% and a net margin of 31.74%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. On average, equities analysts predict that First Hawaiian Inc will post $1.66 earnings per share for the current fiscal year.
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FHB has been the subject of a number of analyst reports. Zacks Investment Research raised First Hawaiian from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a report on Thursday, April 6th. Barclays PLC set a $35.00 price objective on First Hawaiian and gave the company a “buy” rating in a research report on Sunday, April 9th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price target on shares of First Hawaiian in a research report on Friday, May 12th. Bank of America Corporation reiterated a “neutral” rating and set a $34.00 price target (down from $37.00) on shares of First Hawaiian in a research report on Thursday, June 22nd. Finally, UBS AG upgraded First Hawaiian from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $32.00 to $30.00 in a research report on Thursday, April 6th. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $30.95.
First Hawaiian Company Profile
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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