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

Wells Fargo & Company MN cut its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,801,330 shares of the bank’s stock after selling 34,851 shares during the period. Wells Fargo & Company MN owned 1.41% of First Hawaiian worth $41,178,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FHB. The Manufacturers Life Insurance Company raised its holdings in shares of First Hawaiian by 17.8% during the third quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock worth $186,842,000 after purchasing an additional 1,561,662 shares during the period. Norges Bank acquired a new stake in shares of First Hawaiian during the fourth quarter worth $32,689,000. Dimensional Fund Advisors LP raised its holdings in shares of First Hawaiian by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock worth $103,082,000 after purchasing an additional 668,871 shares during the period. Reinhart Partners LLC. raised its holdings in shares of First Hawaiian by 10.2% during the fourth quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock worth $51,458,000 after purchasing an additional 207,652 shares during the period. Finally, Richard Bernstein Advisors LLC acquired a new stake in shares of First Hawaiian during the third quarter worth $3,437,000. 97.63% of the stock is owned by institutional investors and hedge funds.

First Hawaiian Stock Down 0.2 %

Shares of FHB opened at $20.57 on Monday. The firm has a 50-day moving average price of $21.51 and a 200 day moving average price of $21.31. The firm has a market capitalization of $2.63 billion, a PE ratio of 11.82 and a beta of 1.00. First Hawaiian, Inc. has a 52-week low of $16.25 and a 52-week high of $23.22.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, April 26th. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $205.80 million during the quarter, compared to analyst estimates of $202.41 million. First Hawaiian had a net margin of 19.20% and a return on equity of 9.16%. On average, equities analysts expect that First Hawaiian, Inc. will post 1.71 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Monday, May 20th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.04 annualized dividend and a dividend yield of 5.06%. First Hawaiian’s dividend payout ratio (DPR) is 59.77%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of First Hawaiian from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Monday, January 29th. Barclays assumed coverage on shares of First Hawaiian in a report on Friday, March 8th. They issued an “equal weight” rating and a $25.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $21.75.

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.