First Hawaiian Inc (FHB) Position Trimmed by California State Teachers Retirement System

California State Teachers Retirement System cut its position in First Hawaiian Inc (NASDAQ:FHB) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,942 shares of the bank’s stock after selling 1,308 shares during the period. California State Teachers Retirement System owned about 0.13% of First Hawaiian worth $3,893,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Enlightenment Research LLC purchased a new stake in shares of First Hawaiian in the fourth quarter valued at about $27,000. Toronto Dominion Bank lifted its position in First Hawaiian by 10,646.7% in the fourth quarter. Toronto Dominion Bank now owns 3,224 shares of the bank’s stock valued at $73,000 after buying an additional 3,194 shares during the last quarter. Advisors Asset Management Inc. lifted its position in First Hawaiian by 87.9% in the third quarter. Advisors Asset Management Inc. now owns 4,395 shares of the bank’s stock valued at $119,000 after buying an additional 2,056 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in First Hawaiian by 64.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,460 shares of the bank’s stock valued at $175,000 after buying an additional 2,524 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new position in First Hawaiian in the third quarter valued at about $213,000. 81.50% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently issued reports on FHB shares. BidaskClub raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. ValuEngine raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Compass Point set a $28.00 price target on shares of First Hawaiian and gave the stock a “buy” rating in a research report on Friday, January 25th. Finally, Zacks Investment Research raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $29.60.

First Hawaiian stock traded down $0.37 during mid-day trading on Friday, hitting $26.77. The company had a trading volume of 935,056 shares, compared to its average volume of 1,195,251. The firm has a market capitalization of $3.61 billion, a P/E ratio of 12.81, a P/E/G ratio of 3.62 and a beta of 1.15. First Hawaiian Inc has a 1 year low of $21.19 and a 1 year high of $31.28. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Thursday, January 24th. The bank reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.06. The company had revenue of $177.08 million for the quarter, compared to analyst estimates of $190.93 million. First Hawaiian had a net margin of 32.05% and a return on equity of 11.55%. During the same period in the prior year, the firm posted $0.42 earnings per share. As a group, research analysts expect that First Hawaiian Inc will post 2.19 earnings per share for the current fiscal year.

In other news, Director Paribas Bnp sold 24,859,750 shares of First Hawaiian stock in a transaction on Friday, February 1st. The stock was sold at an average price of $26.11, for a total transaction of $649,088,072.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert S. Harrison purchased 5,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were purchased at an average cost of $25.88 per share, with a total value of $129,400.00. Following the purchase, the chief executive officer now directly owns 80,261 shares in the company, valued at $2,077,154.68. The disclosure for this purchase can be found here. Company insiders own 0.22% of the company’s stock.

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First Hawaiian Profile

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 through Retail Banking and Commercial Banking segments. The company accepts various deposit products, such as checking and savings accounts, and time deposit accounts.

Further Reading: Understanding Market Liquidity

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

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