Citigroup Inc. Cuts Stake in First Hawaiian Inc (FHB)
Citigroup Inc. lessened its holdings in First Hawaiian Inc (NASDAQ:FHB) by 96.1% during the fourth quarter, HoldingsChannel reports. The firm owned 72,827 shares of the bank’s stock after selling 1,791,045 shares during the period. Citigroup Inc.’s holdings in First Hawaiian were worth $1,639,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in FHB. Enlightenment Research LLC acquired a new position in First Hawaiian during the fourth quarter worth $27,000. Toronto Dominion Bank increased its holdings in First Hawaiian by 10,646.7% during the fourth quarter. Toronto Dominion Bank now owns 3,224 shares of the bank’s stock worth $73,000 after buying an additional 3,194 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in First Hawaiian by 87.9% during the third quarter. Advisors Asset Management Inc. now owns 4,395 shares of the bank’s stock worth $119,000 after buying an additional 2,056 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in First Hawaiian by 64.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,460 shares of the bank’s stock worth $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 during the third quarter worth $213,000. 80.16% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:FHB opened at $26.60 on Friday. First Hawaiian Inc has a one year low of $21.19 and a one year high of $31.28. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 12.73, a P/E/G ratio of 3.57 and a beta of 1.16. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Monday, February 25th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 22nd. This is an increase from First Hawaiian’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a dividend yield of 3.91%. First Hawaiian’s dividend payout ratio is 49.76%.
In related news, Director Paribas Bnp sold 24,859,750 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $26.11, for a total value of $649,088,072.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert S. Harrison purchased 5,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was acquired at an average price of $25.88 per share, for a total transaction of $129,400.00. Following the completion of the purchase, the chief executive officer now directly owns 80,261 shares of the company’s stock, valued at approximately $2,077,154.68. The disclosure for this purchase can be found here. Corporate insiders own 0.10% of the company’s stock.
Several equities analysts have commented on the stock. Zacks Investment Research downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Tuesday, November 20th. BidaskClub downgraded shares of First Hawaiian from a “hold” rating to a “sell” rating in a report on Thursday, December 13th. Compass Point set a $28.00 price objective on shares of First Hawaiian and gave the company a “buy” rating in a report on Friday, January 25th. Finally, ValuEngine upgraded shares of First Hawaiian from a “sell” rating to a “hold” rating in a report on Tuesday, January 29th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. First Hawaiian currently has a consensus rating of “Buy” and an average price target of $29.83.
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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.
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