First Hawaiian, Inc. $FHB Stock Position Reduced by Allianz Asset Management GmbH

Allianz Asset Management GmbH cut its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 44.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 150,203 shares of the bank’s stock after selling 120,021 shares during the period. Allianz Asset Management GmbH owned about 0.12% of First Hawaiian worth $3,749,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Voya Investment Management LLC grew its position in First Hawaiian by 2.9% during the first quarter. Voya Investment Management LLC now owns 15,918 shares of the bank’s stock valued at $389,000 after purchasing an additional 448 shares in the last quarter. SummerHaven Investment Management LLC grew its position in First Hawaiian by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 37,109 shares of the bank’s stock valued at $926,000 after purchasing an additional 616 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in First Hawaiian by 5.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,340 shares of the bank’s stock valued at $308,000 after purchasing an additional 672 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in First Hawaiian by 199.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank’s stock valued at $26,000 after purchasing an additional 705 shares in the last quarter. Finally, KLP Kapitalforvaltning AS grew its position in First Hawaiian by 3.1% during the second quarter. KLP Kapitalforvaltning AS now owns 26,600 shares of the bank’s stock valued at $664,000 after purchasing an additional 800 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on FHB shares. Barclays reaffirmed an “underweight” rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of First Hawaiian in a research report on Wednesday, October 8th. Cowen started coverage on shares of First Hawaiian in a research report on Wednesday, September 24th. They issued a “hold” rating for the company. Wells Fargo & Company boosted their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Thursday, July 10th. Finally, Piper Sandler started coverage on shares of First Hawaiian in a research report on Thursday, August 21st. They issued a “neutral” rating and a $26.00 target price for the company. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, First Hawaiian has a consensus rating of “Reduce” and a consensus price target of $27.06.

First Hawaiian Trading Up 0.3%

Shares of First Hawaiian stock opened at $23.67 on Friday. The firm has a fifty day simple moving average of $24.94 and a 200-day simple moving average of $24.34. First Hawaiian, Inc. has a 1-year low of $20.32 and a 1-year high of $28.80. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 12.20, a PEG ratio of 3.48 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings data on Monday, August 9th. The bank reported $0.44 earnings per share for the quarter. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. The business had revenue of $129.16 million during the quarter. As a group, research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.