First Hawaiian Inc (NASDAQ:FHB) Shares Sold by Quantamental Technologies LLC
Quantamental Technologies LLC cut its stake in First Hawaiian Inc (NASDAQ:FHB) by 69.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,605 shares of the bank’s stock after selling 5,910 shares during the quarter. Quantamental Technologies LLC’s holdings in First Hawaiian were worth $67,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its stake in First Hawaiian by 134.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 33,897 shares of the bank’s stock worth $883,000 after purchasing an additional 19,430 shares in the last quarter. BTIM Corp. grew its position in shares of First Hawaiian by 21.0% in the second quarter. BTIM Corp. now owns 748,517 shares of the bank’s stock valued at $19,364,000 after purchasing an additional 130,146 shares during the last quarter. American Century Companies Inc. grew its position in shares of First Hawaiian by 3.9% in the first quarter. American Century Companies Inc. now owns 7,242,712 shares of the bank’s stock valued at $188,673,000 after purchasing an additional 269,330 shares during the last quarter. Comerica Bank lifted its stake in shares of First Hawaiian by 6.8% during the second quarter. Comerica Bank now owns 408,619 shares of the bank’s stock valued at $10,273,000 after buying an additional 25,964 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of First Hawaiian during the second quarter valued at approximately $308,000. 95.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on FHB. JPMorgan Chase & Co. downgraded shares of First Hawaiian from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $26.50 to $26.00 in a research report on Monday, July 29th. ValuEngine downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. BidaskClub raised shares of First Hawaiian from a “hold” rating to a “buy” rating in a research note on Thursday. TheStreet raised shares of First Hawaiian from a “c” rating to a “b-” rating in a research note on Monday, August 5th. Finally, Zacks Investment Research raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $27.80.
First Hawaiian (NASDAQ:FHB) last released its earnings results on Thursday, July 25th. The bank reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.02. The company had revenue of $194.39 million for the quarter, compared to the consensus estimate of $196.31 million. First Hawaiian had a net margin of 31.56% and a return on equity of 11.48%. During the same period in the prior year, the company posted $0.50 EPS. Analysts anticipate that First Hawaiian Inc will post 2.16 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Monday, August 26th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.04 dividend on an annualized basis and a yield of 3.77%. First Hawaiian’s payout ratio is 49.76%.
About First Hawaiian
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking 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 accepts various deposit products, including checking and savings accounts, and time deposit accounts.
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