The Manufacturers Life Insurance Company Sells 1,934,820 Shares of First Hawaiian, Inc. $FHB

The Manufacturers Life Insurance Company reduced its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 33.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,779,515 shares of the bank’s stock after selling 1,934,820 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in First Hawaiian were worth $93,127,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FHB. Illinois Municipal Retirement Fund grew its stake in First Hawaiian by 0.6% in the first quarter. Illinois Municipal Retirement Fund now owns 65,002 shares of the bank’s stock valued at $1,602,000 after purchasing an additional 397 shares during the last quarter. Evolve Private Wealth LLC lifted its position in shares of First Hawaiian by 1.6% during the first quarter. Evolve Private Wealth LLC now owns 26,105 shares of the bank’s stock valued at $643,000 after buying an additional 406 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of First Hawaiian by 11.3% during the first quarter. Parallel Advisors LLC now owns 5,171 shares of the bank’s stock valued at $127,000 after buying an additional 525 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in shares of First Hawaiian by 45.7% in the 4th quarter. Global Retirement Partners LLC now owns 1,702 shares of the bank’s stock valued at $43,000 after buying an additional 534 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of First Hawaiian by 0.4% in the 4th quarter. Royal Bank of Canada now owns 139,962 shares of the bank’s stock valued at $3,540,000 after buying an additional 568 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on FHB. Wells Fargo & Company boosted their price objective on shares of First Hawaiian from $26.00 to $28.00 and gave the stock an “underweight” rating in a research note on Monday, July 6th. TD Cowen lowered their target price on shares of First Hawaiian from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Wednesday. Benchmark reaffirmed a “hold” rating on shares of First Hawaiian in a report on Tuesday, July 14th. Piper Sandler upped their price target on First Hawaiian from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Zacks Research raised First Hawaiian from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.12.

First Hawaiian Stock Down 0.3%

FHB opened at $28.00 on Thursday. First Hawaiian, Inc. has a 52-week low of $22.65 and a 52-week high of $30.58. The company has a market cap of $3.41 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 1.54 and a beta of 0.72. The firm’s 50-day moving average price is $28.44 and its 200-day moving average price is $26.88.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, July 24th. The bank reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $231.27 million during the quarter, compared to analysts’ expectations of $227.77 million. First Hawaiian had a net margin of 24.41% and a return on equity of 10.27%. During the same period last year, the business earned $0.58 EPS. On average, research analysts anticipate that First Hawaiian, Inc. will post 2.37 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 17th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.7%. First Hawaiian’s dividend payout ratio (DPR) is currently 45.22%.

First Hawaiian Company 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.