First Hawaiian, Inc. (NASDAQ:FHB) Holdings Cut by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,169,511 shares of the bank's stock after selling 296,662 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.91% of First Hawaiian worth $30,349,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in First Hawaiian by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,670,929 shares of the bank's stock worth $43,361,000 after purchasing an additional 9,775 shares in the last quarter. Norges Bank acquired a new stake in shares of First Hawaiian during the 4th quarter worth about $36,266,000. Raymond James Financial Inc. purchased a new stake in shares of First Hawaiian during the fourth quarter worth about $32,086,000. FMR LLC raised its position in shares of First Hawaiian by 20.3% in the third quarter. FMR LLC now owns 913,400 shares of the bank's stock valued at $21,145,000 after buying an additional 154,136 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of First Hawaiian by 1.2% in the third quarter. Wellington Management Group LLP now owns 686,701 shares of the bank's stock valued at $15,897,000 after buying an additional 7,926 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB traded up $0.01 during trading on Monday, reaching $21.67. 1,298,719 shares of the stock were exchanged, compared to its average volume of 701,422. The firm's 50-day moving average price is $25.83 and its 200 day moving average price is $25.65. The firm has a market cap of $2.73 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77. First Hawaiian, Inc. has a 12-month low of $19.48 and a 12-month high of $28.80.

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First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same quarter in the prior year, the company earned $0.37 earnings per share. As a group, equities research analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date of this dividend was Friday, February 14th. First Hawaiian's dividend payout ratio is presently 58.10%.

Wall Street Analyst Weigh In

Several research firms have commented on FHB. Wells Fargo & Company lifted their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Monday, February 3rd. Barclays raised their price objective on First Hawaiian from $28.00 to $30.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their target price 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 raised their price target on First Hawaiian from $28.00 to $31.00 and gave the stock a "market perform" rating in a research note on Monday, February 3rd. Finally, Piper Sandler increased their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $29.00.

First Hawaiian 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.