5 Stocks Donald Yacktman is Selling in 2022

4. First Hawaiian, Inc. (NASDAQ:FHB)

Value of Yacktman Asset Management‘s 13F Position: $60.72 million

Number of Hedge Fund Shareholders (as of March 31): 15

Yacktman’s fund also unloaded 10% of its stake in First Hawaiian, Inc. (NASDAQ:FHB) during the first quarter, leaving it with a holding of 2.18 million shares. The Honolulu-based bank holding company was owned by 15 hedge funds at the end of March, down from 23 at the end of September 2020.

First Hawaiian, Inc. (NASDAQ:FHB) earned $0.45 per share in the first quarter, beating estimates by $0.03. Total assets remained unchanged quarter-over-quarter at $25 billion, with total deposits growing by 2.1% to $22.3 billion. Total loans and leases fell by 0.5% to $12.9 billion, while net interest income declined by 2.5% to $133.9 million.

The recent decline in hedge fund ownership may be due to First Hawaiian, Inc. (NASDAQ:FHB) having recently played out one of its major catalysts, which was to reduce its excess liquidity. The company’s book value per share also took a hit during Q1, sliding by 14.2% to $17.90.