Short Interest in First Hawaiian, Inc. (NASDAQ:FHB) Expands By 9.8%

First Hawaiian, Inc. (NASDAQ:FHB) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totalling 4,690,000 shares, an increase of 9.8% from the July 15th total of 4,270,000 shares. Currently, 3.7% of the company’s shares are sold short. Based on an average trading volume of 707,700 shares, the short-interest ratio is currently 6.6 days.

First Hawaiian Trading Up 1.0 %

Shares of NASDAQ:FHB traded up $0.24 during midday trading on Monday, reaching $23.54. The company had a trading volume of 161,801 shares, compared to its average volume of 683,506. The stock has a market cap of $3.01 billion, a P/E ratio of 13.51 and a beta of 0.98. The company’s 50 day moving average price is $22.27 and its 200 day moving average price is $21.61. First Hawaiian has a 52-week low of $17.18 and a 52-week high of $26.18.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, July 26th. The bank reported $0.48 EPS for the quarter, beating the consensus estimate of $0.42 by $0.06. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. The business had revenue of $204.62 million for the quarter, compared to the consensus estimate of $202.94 million. Research analysts forecast that First Hawaiian will post 1.78 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 19th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend is Monday, August 19th. First Hawaiian’s dividend payout ratio (DPR) is currently 59.77%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FHB shares. Keefe, Bruyette & Woods increased their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their target price on First Hawaiian from $18.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. The Goldman Sachs Group increased their price target on First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a report on Monday, July 29th. Piper Sandler boosted their price objective on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. cut First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 target price on the stock. in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $24.67.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Norges Bank bought a new position in First Hawaiian in the 4th quarter worth about $32,689,000. Hotchkis & Wiley Capital Management LLC boosted its position in shares of First Hawaiian by 124.3% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock valued at $58,079,000 after acquiring an additional 1,408,160 shares during the period. Dimensional Fund Advisors LP grew its stake in First Hawaiian by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock valued at $103,082,000 after acquiring an additional 668,871 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in First Hawaiian during the 4th quarter worth approximately $1,880,000. Finally, Pinebridge Investments L.P. lifted its stake in First Hawaiian by 101.0% in the 4th quarter. Pinebridge Investments L.P. now owns 136,217 shares of the bank’s stock worth $3,114,000 after purchasing an additional 68,457 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Company Profile

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.