California State Teachers Retirement System trimmed its stake in shares of First Hawaiian Inc (NASDAQ:FHB) by 9.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,838 shares of the bank’s stock after selling 9,075 shares during the period. California State Teachers Retirement System owned about 0.06% of First Hawaiian worth $2,691,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Pacer Advisors Inc. grew its stake in shares of First Hawaiian by 11.8% during the 2nd quarter. Pacer Advisors Inc. now owns 3,546 shares of the bank’s stock valued at $109,000 after buying an additional 374 shares during the period. Aperio Group LLC acquired a new position in First Hawaiian in the 3rd quarter worth $210,000. Koch Industries Inc. acquired a new position in First Hawaiian in the 2nd quarter worth $240,000. Rafferty Asset Management LLC bought a new stake in shares of First Hawaiian in the 2nd quarter worth about $241,000. Finally, Cadence Capital Management LLC bought a new stake in shares of First Hawaiian in the 3rd quarter worth about $245,000. Institutional investors own 35.74% of the company’s stock.
A number of equities research analysts recently weighed in on FHB shares. BidaskClub raised shares of First Hawaiian from a “hold” rating to a “buy” rating in a research report on Saturday, October 21st. ValuEngine lowered shares of First Hawaiian from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Zacks Investment Research raised shares of First Hawaiian from a “hold” rating to a “strong-buy” rating and set a $35.00 target price for the company in a research note on Tuesday, January 9th. Goldman Sachs Group downgraded shares of First Hawaiian from a “neutral” rating to a “sell” rating and set a $32.00 price target for the company. in a research report on Thursday, January 4th. Finally, Barclays set a $32.00 price objective on shares of First Hawaiian and gave the stock a “buy” rating in a report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $33.29.
First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.42. First Hawaiian had a net margin of 30.22% and a return on equity of 9.02%. The company had revenue of $133.32 million for the quarter, compared to the consensus estimate of $136.44 million. During the same period last year, the company earned $0.41 earnings per share. The firm’s revenue was up 8.7% compared to the same quarter last year. equities analysts predict that First Hawaiian Inc will post 1.63 earnings per share for the current fiscal year.
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First Hawaiian Profile
First Hawaiian, Inc, formerly BancWest Corporation, is a bank holding company. The Company owns First Hawaiian Bank. It operates through three segments: Retail Banking, which includes the financial products and services it provides to consumers, small businesses and certain commercial customers; Commercial Banking, which includes its corporate banking, residential and commercial real estate loans, commercial lease financing, auto dealer financing, deposit products and credit cards, and Treasury and Other, which includes its treasury business, which consists of corporate asset and liability management activities, including interest rate risk management.
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