First Hawaiian Bank Decreases Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

First Hawaiian Bank trimmed its position in First Hawaiian, Inc. (NASDAQ:FHB) by 22.7% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,965 shares of the bank’s stock after selling 7,616 shares during the period. First Hawaiian Bank’s holdings in First Hawaiian were worth $539,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. GAMMA Investing LLC lifted its position in shares of First Hawaiian by 50.3% in the second quarter. GAMMA Investing LLC now owns 2,122 shares of the bank’s stock worth $44,000 after buying an additional 710 shares during the last quarter. Abich Financial Wealth Management LLC increased its position in First Hawaiian by 48.9% in the first quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after purchasing an additional 652 shares during the period. LRI Investments LLC bought a new stake in First Hawaiian in the first quarter valued at approximately $166,000. SkyView Investment Advisors LLC lifted its stake in First Hawaiian by 4.1% in the first quarter. SkyView Investment Advisors LLC now owns 36,894 shares of the bank’s stock valued at $810,000 after buying an additional 1,447 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in First Hawaiian by 6.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,978 shares of the bank’s stock valued at $1,449,000 after acquiring an additional 3,989 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB traded down $0.47 during trading on Monday, hitting $22.99. The company’s stock had a trading volume of 643,070 shares, compared to its average volume of 702,780. The company has a market capitalization of $2.94 billion, a PE ratio of 13.48 and a beta of 0.98. The stock’s 50-day moving average price is $21.66 and its two-hundred day moving average price is $21.53. First Hawaiian, Inc. has a fifty-two week low of $17.18 and a fifty-two week high of $26.18.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 19th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, August 19th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.52%. First Hawaiian’s payout ratio is currently 59.77%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price objective for the company. in a research note on Monday, July 29th. Keefe, Bruyette & Woods boosted their price objective on First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Barclays upped their price target on shares of First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Piper Sandler upped their price target on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company raised their price objective on First Hawaiian from $18.00 to $22.00 and gave the company an “underweight” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $24.67.

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.