Bank of New York Mellon Corp lifted its holdings in shares of First Hawaiian Inc (NYSE:FHB) by 272.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 898,095 shares of the bank’s stock after acquiring an additional 656,786 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.64% of First Hawaiian worth $27,499,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in FHB. US Bancorp DE purchased a new stake in First Hawaiian in the second quarter worth $118,000. UBS Group AG grew its stake in First Hawaiian by 308.6% in the first quarter. UBS Group AG now owns 4,086 shares of the bank’s stock worth $122,000 after purchasing an additional 3,086 shares during the period. Segantii Capital Management Ltd purchased a new stake in First Hawaiian in the first quarter worth $129,000. Great West Life Assurance Co. Can grew its stake in First Hawaiian by 90.3% in the first quarter. Great West Life Assurance Co. Can now owns 5,900 shares of the bank’s stock worth $176,000 after purchasing an additional 2,800 shares during the period. Finally, Janus Capital Management LLC grew its stake in First Hawaiian by 22.3% in the first quarter. Janus Capital Management LLC now owns 8,384 shares of the bank’s stock worth $251,000 after purchasing an additional 1,528 shares during the period.
First Hawaiian Inc (NYSE FHB) opened at 28.04 on Wednesday. First Hawaiian Inc has a one year low of $25.02 and a one year high of $35.47. The stock’s 50 day moving average price is $27.36 and its 200-day moving average price is $31.19. The company has a market capitalization of $3.91 billion and a P/E ratio of 17.52.
First Hawaiian (NYSE:FHB) last announced its quarterly earnings results on Thursday, July 27th. The bank reported $0.41 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.41. First Hawaiian had a return on equity of 9.02% and a net margin of 31.59%. The business had revenue of $131.30 million for the quarter, compared to the consensus estimate of $134.58 million. First Hawaiian’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities analysts forecast that First Hawaiian Inc will post $1.66 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, August 24th. This represents a $0.88 annualized dividend and a yield of 3.14%.
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Several equities research analysts recently weighed in on the company. BidaskClub raised First Hawaiian from a “strong sell” rating to a “sell” rating in a research note on Wednesday. UBS AG reaffirmed a “neutral” rating and issued a $29.00 price target (down from $30.00) on shares of First Hawaiian in a research note on Monday, July 31st. Zacks Investment Research cut First Hawaiian from a “buy” rating to a “hold” rating in a research note on Monday, July 17th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and issued a $34.00 price target (down from $37.00) on shares of First Hawaiian in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. First Hawaiian presently has a consensus rating of “Hold” and an average target price of $32.83.
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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