Allspring Global Investments Holdings LLC Decreases Stock Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Allspring Global Investments Holdings LLC trimmed its holdings in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 49.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 619,073 shares of the bank's stock after selling 599,456 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.48% of First Hawaiian worth $15,830,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of FHB. Wellington Management Group LLP grew its stake in shares of First Hawaiian by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 686,701 shares of the bank's stock valued at $15,897,000 after purchasing an additional 7,926 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of First Hawaiian during the 3rd quarter valued at about $632,000. Jane Street Group LLC grew its stake in shares of First Hawaiian by 91.4% during the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank's stock valued at $4,077,000 after purchasing an additional 84,120 shares during the period. FMR LLC grew its stake in shares of First Hawaiian by 20.3% during the 3rd quarter. FMR LLC now owns 913,400 shares of the bank's stock valued at $21,145,000 after purchasing an additional 154,136 shares during the period. Finally, BNP Paribas Financial Markets grew its stake in shares of First Hawaiian by 78.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 26,352 shares of the bank's stock valued at $610,000 after purchasing an additional 11,604 shares during the period. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Down 1.1 %

NASDAQ FHB traded down $0.30 during trading hours on Wednesday, reaching $27.49. The company's stock had a trading volume of 568,670 shares, compared to its average volume of 788,277. The firm's 50-day moving average price is $26.43 and its 200-day moving average price is $25.29. First Hawaiian, Inc. has a 1 year low of $19.48 and a 1 year high of $28.80. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 3.26 and a beta of 0.99.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, topping 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 period in the previous year, the firm posted $0.37 EPS. Equities research analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a yield of 3.78%. First Hawaiian's dividend payout ratio is presently 58.10%.

Analyst Ratings Changes

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

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.