Massachusetts Financial Services Co. MA Has $44.92 Million Stock Holdings in First Hawaiian, Inc. $FHB

Massachusetts Financial Services Co. MA trimmed its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,808,917 shares of the bank’s stock after selling 64,640 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.45% of First Hawaiian worth $44,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its position in shares of First Hawaiian by 74.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock worth $25,000 after buying an additional 438 shares during the period. Hantz Financial Services Inc. grew its position in First Hawaiian by 11,325.0% in the second quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock valued at $34,000 after acquiring an additional 1,359 shares during the period. Bayforest Capital Ltd acquired a new position in First Hawaiian during the third quarter worth $64,000. Quent Capital LLC acquired a new position in First Hawaiian during the third quarter worth $65,000. Finally, Blue Trust Inc. lifted its holdings in shares of First Hawaiian by 36.3% during the third quarter. Blue Trust Inc. now owns 2,776 shares of the bank’s stock valued at $69,000 after acquiring an additional 740 shares during the period. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Price Performance

Shares of First Hawaiian stock opened at $27.70 on Thursday. The company has a market capitalization of $3.43 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.86 and a beta of 0.73. The business has a 50-day moving average of $25.71 and a two-hundred day moving average of $25.20. First Hawaiian, Inc. has a 1 year low of $20.32 and a 1 year high of $28.28.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings data on Friday, October 24th. The bank reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.07. First Hawaiian had a return on equity of 9.68% and a net margin of 22.60%.The business had revenue of $226.39 million for the quarter, compared to analysts’ expectations of $218.22 million. During the same quarter in the previous year, the business posted $0.48 EPS. On average, equities analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group set a $27.50 target price on shares of First Hawaiian and gave the stock a “sell” rating in a report on Tuesday, January 6th. Weiss Ratings restated a “hold (c+)” rating on shares of First Hawaiian in a research report on Monday, December 29th. Piper Sandler raised their price objective on shares of First Hawaiian from $27.00 to $28.00 and gave the stock a “neutral” rating in a report on Monday, October 27th. Keefe, Bruyette & Woods boosted their price objective on First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 28th. Finally, Barclays raised First Hawaiian from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $26.00 to $28.00 in a report on Tuesday, November 11th. Six analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $27.64.

Insiders Place Their Bets

In other First Hawaiian news, insider Alan Arizumi sold 36,460 shares of First Hawaiian stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.35, for a total value of $924,261.00. Following the sale, the insider owned 37,508 shares of the company’s stock, valued at $950,827.80. This trade represents a 49.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.61% of the company’s stock.

About First Hawaiian

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.