First Hawaiian, Inc. $FHB Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 14.5% during the second quarter, HoldingsChannel.com reports. The fund owned 1,273,109 shares of the bank’s stock after selling 215,426 shares during the period. Bank of New York Mellon Corp’s holdings in First Hawaiian were worth $31,777,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FHB. Bank of Montreal Can lifted its stake in First Hawaiian by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 25,258 shares of the bank’s stock worth $630,000 after purchasing an additional 422 shares in the last quarter. Strs Ohio lifted its position in First Hawaiian by 3.8% during the second quarter. Strs Ohio now owns 73,725 shares of the bank’s stock worth $1,840,000 after buying an additional 2,667 shares in the last quarter. Atria Investments Inc lifted its position in First Hawaiian by 5.0% during the second quarter. Atria Investments Inc now owns 46,980 shares of the bank’s stock worth $1,173,000 after buying an additional 2,250 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in First Hawaiian by 11,325.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock valued at $34,000 after buying an additional 1,359 shares in the last quarter. Finally, World Investment Advisors acquired a new stake in shares of First Hawaiian in the 2nd quarter worth $375,000. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on FHB shares. Barclays raised shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $26.00 to $28.00 in a research report on Tuesday. Weiss Ratings downgraded shares of First Hawaiian from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. TD Cowen began coverage on shares of First Hawaiian in a report on Thursday, September 25th. They issued a “hold” rating and a $27.00 target price on the stock. Keefe, Bruyette & Woods increased their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the company a “market perform” rating in a research note on Tuesday, October 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of First Hawaiian from $26.00 to $27.00 and gave the company an “underweight” rating in a research report on Monday, October 27th. Seven analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, First Hawaiian has an average rating of “Reduce” and a consensus target price of $27.75.

First Hawaiian Price Performance

FHB stock opened at $24.56 on Friday. The business’s 50-day moving average is $24.73 and its two-hundred day moving average is $24.60. The firm has a market capitalization of $3.04 billion, a P/E ratio of 11.98, a P/E/G ratio of 1.61 and a beta of 0.91. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Monday, August 9th. The bank reported $0.44 earnings per share for the quarter. The firm had revenue of $129.16 million for the quarter. First Hawaiian had a net margin of 22.60% and a return on equity of 9.68%. On average, analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 17th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Monday, November 17th. First Hawaiian’s dividend payout ratio (DPR) is presently 50.73%.

First Hawaiian Company 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.