First Hawaiian Slides as TriCo Stock Deal Overshadows Early Q2 Improvement

First Hawaiian, Inc. (FHB) is down 4.7% today. Here is some analysis on what might have caused this price movement.

Analysis: The most likely driver is First Hawaiian’s agreement to buy TriCo Bancshares in an all-stock transaction, which can pressure an acquirer’s shares because investors often focus on dilution, integration risk, and execution uncertainty. This could be why the stock fell even though First Hawaiian also released preliminary second-quarter figures that pointed to stronger earnings, wider margin, and lower deposit costs.

Details:

First Hawaiian announced a definitive agreement to acquire TriCo Bancshares in an all-stock deal valued at about $2.0 billion, with TriCo shareholders set to receive 2.095 First Hawaiian shares for each TriCo share.

The transaction would create a combined bank with roughly $34 billion in assets and expand First Hawaiian’s mainland presence, especially in California, while keeping the Tri Counties Bank brand there.

Management said the deal is expected to close by the end of 2026, subject to shareholder and regulatory approvals, leaving time for investors to weigh closing risk and integration costs.

At the same time, First Hawaiian provided preliminary second-quarter results showing net income of $73.4 million, diluted EPS of $0.60, net interest margin of 3.25%, and lower deposit costs than the prior quarter.

Sources:

First Hawaiian Bank, SEC, StockTitan

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$FHB Insider Trading Activity

$FHB insiders have traded $FHB stock on the open market 4 times in the past 6 months. Of those trades, 0 have been purchases and 4 have been sales.

Here’s a breakdown of recent trading of $FHB stock by insiders over the last 6 months:

CRAIG SCOTT WO has made 0 purchases and 4 sales selling 2,000 shares for an estimated $54,290.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

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$FHB Hedge Fund Activity

We have seen 149 institutional investors add shares of $FHB stock to their portfolio, and 136 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

MANUFACTURERS LIFE INSURANCE COMPANY, THE removed 1,934,820 shares (-33.9%) from their portfolio in Q1 2026, for an estimated $47,673,964
TWO SIGMA INVESTMENTS, LP added 681,616 shares (+67.9%) to their portfolio in Q1 2026, for an estimated $16,795,018
QUANTINNO CAPITAL MANAGEMENT LP added 676,433 shares (+60.3%) to their portfolio in Q1 2026, for an estimated $16,667,309
UBS GROUP AG added 601,727 shares (+53.3%) to their portfolio in Q1 2026, for an estimated $14,826,553
AMERICAN CENTURY COMPANIES INC removed 559,878 shares (-16.8%) from their portfolio in Q1 2026, for an estimated $13,795,393
ALLIANCEBERNSTEIN L.P. removed 459,505 shares (-23.0%) from their portfolio in Q1 2026, for an estimated $11,322,203
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC removed 441,600 shares (-3.5%) from their portfolio in Q1 2026, for an estimated $10,881,024

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$FHB Price Targets

Multiple analysts have issued price targets for $FHB recently. We have seen 6 analysts offer price targets for $FHB in the last 6 months, with a median target of $29.5.

Here are some recent targets:

Ryan Nash from Goldman Sachs set a target price of $30.0 on 07/07/2026
Jared Shaw from Barclays set a target price of $30.0 on 07/07/2026
Christopher Spahr from Wells Fargo set a target price of $28.0 on 07/06/2026
Anthony Elian from JP Morgan set a target price of $31.0 on 07/01/2026
Janet Lee from TD Cowen set a target price of $29.0 on 04/28/2026
Matthew Clark from Piper Sandler set a target price of $28.0 on 04/27/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.