First Hawaiian, Inc. $FHB Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. trimmed its position in First Hawaiian, Inc. (NASDAQ:FHB) by 0.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,098,943 shares of the bank’s stock after selling 71,240 shares during the period. Vanguard Group Inc. owned 0.11% of First Hawaiian worth $350,077,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in shares of First Hawaiian by 74.9% in 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 last quarter. Hantz Financial Services Inc. lifted its stake 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 buying an additional 1,359 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of First Hawaiian during the third quarter valued at $64,000. Quent Capital LLC bought a new position in shares of First Hawaiian during the third quarter worth about $65,000. Finally, Blue Trust Inc. grew its position 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 worth $69,000 after acquiring an additional 740 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FHB. JPMorgan Chase & Co. boosted their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the company an “underweight” rating in a research note on Monday, February 2nd. Barclays upgraded First Hawaiian from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $26.00 to $28.00 in a research report on Tuesday, November 11th. The Goldman Sachs Group set a $27.50 price objective on First Hawaiian and gave the stock a “sell” rating in a report on Tuesday, January 6th. Piper Sandler decreased their target price on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Finally, Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday. Six analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $27.50.

First Hawaiian Trading Down 4.4%

Shares of NASDAQ FHB opened at $24.76 on Friday. First Hawaiian, Inc. has a one year low of $20.32 and a one year high of $28.35. The business has a 50-day moving average price of $26.44 and a two-hundred day moving average price of $25.48. The firm has a market capitalization of $3.06 billion, a PE ratio of 11.25, a PEG ratio of 2.05 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, January 30th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $225.85 million during the quarter, compared to analyst estimates of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same period in the prior year, the firm earned $0.41 earnings per share. Research analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. First Hawaiian’s payout ratio is currently 47.27%.

Insider Transactions at First Hawaiian

In other news, insider Alan Arizumi sold 36,460 shares of the firm’s 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 directly owned 37,508 shares of the company’s stock, valued at approximately $950,827.80. This trade represents a 49.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Craig Scott Wo sold 1,500 shares of First Hawaiian stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $27.21, for a total value of $40,815.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 45,026 shares of company stock worth $1,144,928. 0.61% of the stock is currently owned by insiders.

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.