First Hawaiian, Inc. (NASDAQ:FHB) Stake Lessened by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,023,882 shares of the bank’s stock after selling 144,144 shares during the period. Wells Fargo & Company MN owned approximately 1.58% of First Hawaiian worth $52,520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets grew its position in shares of First Hawaiian by 78.7% in the third quarter. BNP Paribas Financial Markets now owns 26,352 shares of the bank’s stock valued at $610,000 after purchasing an additional 11,604 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of First Hawaiian in the third quarter valued at about $284,000. Quantinno Capital Management LP grew its position in shares of First Hawaiian by 5.4% in the third quarter. Quantinno Capital Management LP now owns 68,423 shares of the bank’s stock valued at $1,584,000 after purchasing an additional 3,523 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of First Hawaiian by 1.2% in the third quarter. Wellington Management Group LLP now owns 686,701 shares of the bank’s stock valued at $15,897,000 after buying an additional 7,926 shares during the period. Finally, Jane Street Group LLC lifted its stake in shares of First Hawaiian by 91.4% in the third quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock valued at $4,077,000 after buying an additional 84,120 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FHB has been the subject of several research reports. Piper Sandler increased their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Barclays cut their price target on shares of First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday. Keefe, Bruyette & Woods raised their price target on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. The Goldman Sachs Group raised their price target on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, First Hawaiian has an average rating of “Hold” and a consensus target price of $28.29.

First Hawaiian Trading Up 6.0 %

FHB opened at $22.54 on Thursday. The stock has a market capitalization of $2.84 billion, a P/E ratio of 12.59, a P/E/G ratio of 3.28 and a beta of 0.77. First Hawaiian, Inc. has a 12 month low of $19.48 and a 12 month high of $28.80. The firm’s fifty day simple moving average is $25.43 and its 200 day simple moving average is $25.58.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, topping the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same quarter in the previous year, the firm posted $0.37 EPS. On average, equities research analysts predict that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, February 14th. This represents a $1.04 annualized dividend and a dividend yield of 4.61%. First Hawaiian’s dividend payout ratio is presently 58.10%.

About First Hawaiian

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.