HEI Announces Sale of American Savings Bank, Creating Independent Investor-Owned Bank [Yahoo! Finance]
Hawaiian Electric Industries, Inc. (HE)
Last hawaiian electric industries, inc. earnings: 11/1 06:00 am
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Source: Yahoo! Finance
Enables American Savings Bank to continue strong performance and best-in-class service for Hawaii customers Bank to maintain its current local leadership team, branches and brand HEI to use proceeds to reduce debt, increasing flexibility for funding wildfire settlement contributions and key utility initiatives, while reducing equity needs HONOLULU, December 31, 2024 BUSINESS WIRE )--Hawaiian Electric Industries, Inc. (HEI) (NYSE - HE) today announced the closing of the sale of 90.1% of the common stock of American Savings Bank, F.S.B (ASB), previously its wholly owned subsidiary, to independent investors (the "Investors") via separate agreements. The transaction values the bank at $450 million, with the Investors purchasing the 90.1% of ASB common stock for an aggregate cash consideration of $405 million. The sale of the majority of HEI's ownership in ASB follows the HEI Board of Directors' (the "Board") comprehensive review of strategic options regarding the bank, which was
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HE
News
- Hawaiian Electric Industries, Inc. (NYSE: HE) had its price target lowered by analysts at Jefferies Financial Group Inc. from $11.50 to $10.50. They now have a "hold" rating on the stock.MarketBeat
- Hawaiian Electric Industries, Inc. (NYSE: HE) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- HEI Announces Sale of American Savings Bank, Creating Independent Investor-Owned BankBusiness Wire
- Hawaiian Electric Industries, Inc. (NYSE: HE) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
- Hawaiian Electric Industries, Inc. (NYSE: HE) was upgraded by analysts at StockNews.com from a "sell" rating to a "hold" rating.MarketBeat
HE
Sec Filings
- 1/3/25 - Form 8-K
- 12/31/24 - Form 8-K
- 11/12/24 - Form SC
- HE's page on the SEC website