JPMorgan Chase & Co. Decreases Stake in First Hawaiian, Inc. $FHB

JPMorgan Chase & Co. cut its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 14.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,319,555 shares of the bank’s stock after selling 378,210 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.87% of First Hawaiian worth $57,595,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in First Hawaiian by 74.9% in the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock worth $25,000 after acquiring an additional 438 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in First Hawaiian by 5.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 10,941 shares of the bank’s stock worth $272,000 after acquiring an additional 567 shares in the last quarter. Natixis Advisors LLC increased its position in shares of First Hawaiian by 3.2% in the 3rd quarter. Natixis Advisors LLC now owns 21,339 shares of the bank’s stock valued at $530,000 after purchasing an additional 656 shares during the last quarter. Blue Trust Inc. increased its position in shares of First Hawaiian by 36.3% in the 3rd quarter. Blue Trust Inc. now owns 2,776 shares of the bank’s stock valued at $69,000 after purchasing an additional 740 shares during the last quarter. Finally, Quantum Private Wealth LLC raised its holdings in shares of First Hawaiian by 4.1% in the 2nd quarter. Quantum Private Wealth LLC now owns 20,953 shares of the bank’s stock valued at $523,000 after purchasing an additional 823 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Trading Up 0.4%

Shares of First Hawaiian stock opened at $23.69 on Friday. The company has a fifty day simple moving average of $25.94 and a 200-day simple moving average of $25.40. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 10.77, a PEG ratio of 1.87 and a beta of 0.71. First Hawaiian, Inc. has a 12-month low of $20.32 and a 12-month high of $28.35.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, January 30th. The bank reported $0.56 EPS for the quarter, topping the consensus estimate of $0.55 by $0.01. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The firm had revenue of $225.85 million for the quarter, compared to analyst estimates of $225.33 million. During the same period last year, the business earned $0.41 EPS. On average, analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, February 13th. First Hawaiian’s payout ratio is presently 47.27%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler decreased their price objective on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. The Goldman Sachs Group set a $27.50 price target on First Hawaiian and gave the company a “sell” rating in a research note on Tuesday, January 6th. Zacks Research downgraded First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. TD Cowen reaffirmed a “hold” rating on shares of First Hawaiian in a research report on Monday, February 2nd. Finally, Weiss Ratings upgraded First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $27.50.

Insider Activity

In related news, Director Craig Scott Wo sold 1,500 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.61% of the stock is currently owned by company insiders.

First Hawaiian Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.