Swiss National Bank Sells 1,900 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Swiss National Bank cut its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 0.8% during the 3rd quarter, Holdings Channel reports. The firm owned 249,667 shares of the bank’s stock after selling 1,900 shares during the period. Swiss National Bank’s holdings in First Hawaiian were worth $5,780,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in FHB. The Manufacturers Life Insurance Company increased its stake in First Hawaiian by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after acquiring an additional 942,634 shares during the last quarter. AQR Capital Management LLC increased its stake in First Hawaiian by 958.2% in the second quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock valued at $9,043,000 after acquiring an additional 397,897 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in First Hawaiian by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock valued at $108,057,000 after acquiring an additional 370,722 shares during the last quarter. Harbor Capital Advisors Inc. increased its stake in First Hawaiian by 96.8% in the third quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank’s stock valued at $11,072,000 after acquiring an additional 235,253 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in First Hawaiian by 6.5% in the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock valued at $69,321,000 after buying an additional 203,407 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on FHB. JPMorgan Chase & Co. cut their target price on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 9th. The Goldman Sachs Group raised their target price on shares of First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a research report on Tuesday. Stephens began coverage on shares of First Hawaiian in a research report on Wednesday. They issued an “equal weight” rating and a $30.00 target price on the stock. Finally, Wells Fargo & Company raised their target price on shares of First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $25.43.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB opened at $27.60 on Thursday. The firm has a market cap of $3.53 billion, a PE ratio of 15.77 and a beta of 0.96. The firm’s fifty day moving average is $24.92 and its 200-day moving average is $23.22. First Hawaiian, Inc. has a 52 week low of $18.85 and a 52 week high of $28.80.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.77%. First Hawaiian’s dividend payout ratio (DPR) is presently 59.43%.

First Hawaiian Company Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.