Alliancebernstein L.P. Acquires 864,420 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Alliancebernstein L.P. raised its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 19.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,244,211 shares of the bank's stock after purchasing an additional 864,420 shares during the quarter. Alliancebernstein L.P. owned 4.10% of First Hawaiian worth $136,087,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of FHB. Wellington Management Group LLP raised its stake in shares of First Hawaiian by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 699,224 shares of the bank's stock worth $18,145,000 after purchasing an additional 12,523 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in First Hawaiian in the 4th quarter worth about $207,000. Pictet Asset Management Holding SA lifted its stake in First Hawaiian by 13.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 16,857 shares of the bank's stock valued at $437,000 after acquiring an additional 1,969 shares during the period. New Age Alpha Advisors LLC purchased a new stake in shares of First Hawaiian during the 4th quarter valued at about $626,000. Finally, Norges Bank bought a new stake in shares of First Hawaiian in the fourth quarter worth approximately $36,266,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Down 8.2 %

NASDAQ:FHB traded down $2.02 during mid-day trading on Thursday, hitting $22.66. 1,768,532 shares of the company traded hands, compared to its average volume of 696,170. The stock's fifty day moving average price is $26.10 and its 200-day moving average price is $25.68. The firm has a market cap of $2.86 billion, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77. First Hawaiian, Inc. has a one year low of $19.48 and a one year high of $28.80.

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First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Equities analysts predict that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.59%. First Hawaiian's dividend payout ratio (DPR) is presently 58.10%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on FHB shares. The Goldman Sachs Group increased their price objective on shares of First Hawaiian from $26.00 to $29.00 and gave the company a "sell" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. raised their price target on First Hawaiian from $27.00 to $29.00 and gave the stock an "underweight" rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods upped their price objective on First Hawaiian from $28.00 to $31.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their target price on First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research report on Monday, February 3rd. Finally, Piper Sandler upped their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, First Hawaiian presently has an average rating of "Hold" and an average target price of $29.00.

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.