Short Interest in First Hawaiian, Inc. (NASDAQ:FHB) Decreases By 10.8%

First Hawaiian, Inc. (NASDAQ:FHB) saw a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 4,060,000 shares, a drop of 10.8% from the October 15th total of 4,550,000 shares. Based on an average daily trading volume, of 546,200 shares, the short-interest ratio is currently 7.4 days. Approximately 3.2% of the company’s stock are short sold.

First Hawaiian Price Performance

FHB stock traded down $0.29 on Monday, reaching $26.91. 488,014 shares of the company were exchanged, compared to its average volume of 648,722. First Hawaiian has a 12 month low of $18.77 and a 12 month high of $28.38. The stock’s fifty day moving average price is $24.24 and its 200 day moving average price is $22.92. The firm has a market capitalization of $3.44 billion, a PE ratio of 15.54 and a beta of 0.96.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s dividend payout ratio is currently 59.43%.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds have recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new stake in shares of First Hawaiian during the 1st quarter valued at about $260,000. Russell Investments Group Ltd. grew its stake in shares of First Hawaiian by 98.5% in the 1st quarter. Russell Investments Group Ltd. now owns 11,824 shares of the bank’s stock valued at $260,000 after purchasing an additional 5,868 shares during the period. CANADA LIFE ASSURANCE Co raised its holdings in shares of First Hawaiian by 9.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 136,316 shares of the bank’s stock worth $2,992,000 after buying an additional 11,553 shares in the last quarter. MQS Management LLC bought a new position in shares of First Hawaiian during the 1st quarter worth approximately $209,000. Finally, LRI Investments LLC bought a new stake in First Hawaiian during the 1st quarter worth about $166,000. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

FHB has been the subject of several recent research reports. Piper Sandler boosted their price target on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Wells Fargo & Company upped their price target on First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. Barclays lifted 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 report on Monday, July 29th. JPMorgan Chase & Co. decreased their price objective on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods raised their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $24.33.

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.