CIBC Asset Management Inc Sells 5,080 Shares of First Hawaiian Inc (FHB)

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CIBC Asset Management Inc reduced its position in First Hawaiian Inc (NASDAQ:FHB) by 6.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 70,693 shares of the bank’s stock after selling 5,080 shares during the quarter. CIBC Asset Management Inc’s holdings in First Hawaiian were worth $1,842,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in FHB. Enlightenment Research LLC acquired a new position in shares of First Hawaiian during the 4th quarter worth $27,000. Parkside Financial Bank & Trust grew its stake in shares of First Hawaiian by 165.3% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,894 shares of the bank’s stock worth $49,000 after purchasing an additional 1,180 shares during the period. American International Group Inc. grew its stake in shares of First Hawaiian by 19.2% during the 1st quarter. American International Group Inc. now owns 2,309 shares of the bank’s stock worth $60,000 after purchasing an additional 372 shares during the period. Toronto Dominion Bank grew its stake in shares of First Hawaiian by 10,646.7% during the 4th quarter. Toronto Dominion Bank now owns 3,224 shares of the bank’s stock worth $73,000 after purchasing an additional 3,194 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of First Hawaiian during the 1st quarter worth $74,000. 82.87% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on the stock. BidaskClub raised shares of First Hawaiian from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Zacks Investment Research cut shares of First Hawaiian from a “buy” rating to a “hold” rating in a research note on Tuesday, April 30th. ValuEngine raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Finally, Compass Point set a $28.00 price target on shares of First Hawaiian and gave the stock a “buy” rating in a research note on Friday, January 25th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $29.60.

First Hawaiian stock opened at $26.86 on Monday. First Hawaiian Inc has a 52 week low of $21.19 and a 52 week high of $31.28. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $3.63 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 3.65 and a beta of 1.17.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Thursday, April 25th. The bank reported $0.53 EPS for the quarter, hitting the consensus estimate of $0.53. First Hawaiian had a net margin of 31.67% and a return on equity of 11.60%. The business had revenue of $145.10 million for the quarter, compared to analyst estimates of $146.96 million. During the same period in the previous year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. Analysts forecast that First Hawaiian Inc will post 2.18 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Tuesday, May 28th will be given a $0.26 dividend. The ex-dividend date is Friday, May 24th. This represents a $1.04 annualized dividend and a dividend yield of 3.87%. First Hawaiian’s dividend payout ratio is presently 49.76%.

In other First Hawaiian news, CEO Robert S. Harrison acquired 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were acquired at an average cost of $25.88 per share, for a total transaction of $129,400.00. Following the transaction, the chief executive officer now directly owns 80,261 shares of the company’s stock, valued at $2,077,154.68. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by insiders.

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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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Want to see what other hedge funds are holding FHB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Hawaiian Inc (NASDAQ:FHB).

Institutional Ownership by Quarter for First Hawaiian (NASDAQ:FHB)

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