Prudential Financial Inc. lessened its holdings in First Hawaiian Inc (NASDAQ:FHB) by 86.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,950 shares of the bank’s stock after selling 43,687 shares during the period. Prudential Financial Inc.’s holdings in First Hawaiian were worth $211,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of FHB. Pacer Advisors Inc. raised its holdings in shares of First Hawaiian by 11.8% in the 2nd quarter. Pacer Advisors Inc. now owns 3,546 shares of the bank’s stock worth $109,000 after acquiring an additional 374 shares during the last quarter. US Bancorp DE acquired a new stake in shares of First Hawaiian in the 2nd quarter worth about $118,000. Aperio Group LLC acquired a new stake in shares of First Hawaiian in the 3rd quarter worth about $210,000. MUFG Americas Holdings Corp bought a new stake in First Hawaiian in the 2nd quarter worth about $221,000. Finally, Koch Industries Inc. bought a new stake in First Hawaiian in the 2nd quarter worth about $240,000. Institutional investors own 35.74% of the company’s stock.
FHB has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Friday, November 3rd. BidaskClub downgraded shares of First Hawaiian from a “buy” rating to a “hold” rating in a research report on Saturday, October 7th. UBS upped their price objective on shares of First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Barclays set a $32.00 price objective on shares of First Hawaiian and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Finally, ValuEngine raised shares of First Hawaiian from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $32.50.
First Hawaiian (NASDAQ:FHB) last released its earnings results on Thursday, October 26th. The bank reported $0.42 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.42. First Hawaiian had a net margin of 30.22% and a return on equity of 9.02%. The firm had revenue of $133.32 million during the quarter, compared to the consensus estimate of $136.44 million. During the same period in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. equities analysts predict that First Hawaiian Inc will post 1.63 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 8th. Stockholders of record on Monday, November 27th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date of this dividend was Friday, November 24th. First Hawaiian’s dividend payout ratio is currently 53.33%.
About First Hawaiian
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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