First Hawaiian Inc (NASDAQ:FHB) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,693,300 shares, an increase of 9.3% from the May 30th total of 1,548,700 shares. Based on an average daily volume of 767,300 shares, the short-interest ratio is presently 2.2 days. Currently, 1.3% of the company’s stock are short sold.
A number of research firms recently issued reports on FHB. BidaskClub downgraded Zynga from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. Finally, ValuEngine downgraded Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. First Hawaiian has an average rating of “Hold” and a consensus price target of $28.25.
Shares of NASDAQ:FHB traded up $0.08 during midday trading on Tuesday, reaching $25.14. The company had a trading volume of 4,173 shares, compared to its average volume of 739,944. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.82 and a current ratio of 0.82. The company’s 50 day moving average is $25.60. The firm has a market capitalization of $3.48 billion, a PE ratio of 12.06, a PEG ratio of 5.46 and a beta of 1.14. First Hawaiian has a 1-year low of $21.19 and a 1-year high of $30.02.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. grew its position in shares of First Hawaiian by 389.7% in the fourth quarter. American Century Companies Inc. now owns 6,973,382 shares of the bank’s stock valued at $156,971,000 after purchasing an additional 5,549,300 shares during the last quarter. AJO LP acquired a new position in shares of First Hawaiian in the first quarter valued at approximately $109,133,000. Norges Bank acquired a new position in shares of First Hawaiian in the fourth quarter valued at approximately $32,842,000. Boston Partners grew its position in shares of First Hawaiian by 126.4% in the first quarter. Boston Partners now owns 2,207,175 shares of the bank’s stock valued at $57,497,000 after purchasing an additional 1,232,162 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in shares of First Hawaiian in the first quarter valued at approximately $31,752,000. 97.16% of the stock is currently owned by hedge funds and other institutional investors.
About First Hawaiian
First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking 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 accepts various deposit products, including checking and savings accounts, and time deposit accounts.
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