State Street Corp Has $129.28 Million Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

State Street Corp cut its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,584,512 shares of the bank's stock after selling 295,470 shares during the period. State Street Corp owned about 4.37% of First Hawaiian worth $129,281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FHB. Whittier Trust Co. lifted its stake in First Hawaiian by 68.7% in the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank's stock worth $26,000 after purchasing an additional 507 shares during the last quarter. Blue Trust Inc. increased its holdings in First Hawaiian by 51.5% during the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank's stock valued at $43,000 after buying an additional 625 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in First Hawaiian in the third quarter worth approximately $51,000. Abich Financial Wealth Management LLC lifted its holdings in First Hawaiian by 32.5% during the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank's stock worth $55,000 after buying an additional 644 shares during the period. Finally, Quarry LP increased its holdings in shares of First Hawaiian by 459.2% in the 3rd quarter. Quarry LP now owns 2,483 shares of the bank's stock valued at $57,000 after acquiring an additional 2,039 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Price Performance

Shares of FHB stock traded down $0.20 during trading hours on Friday, reaching $27.06. The stock had a trading volume of 705,179 shares, compared to its average volume of 653,250. First Hawaiian, Inc. has a twelve month low of $19.48 and a twelve month high of $28.80. The firm has a market capitalization of $3.46 billion, a PE ratio of 15.46 and a beta of 0.98. The firm has a 50-day simple moving average of $25.95 and a 200-day simple moving average of $23.71.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend was Monday, November 18th. First Hawaiian's payout ratio is 59.43%.

Analyst Ratings Changes

Several brokerages have recently issued reports on FHB. Wells Fargo & Company raised their price objective on First Hawaiian from $21.00 to $22.00 and gave the stock an "underweight" rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. dropped their price objective on First Hawaiian from $24.00 to $23.00 and set an "underweight" rating on the stock in a report on Wednesday, October 9th. Keefe, Bruyette & Woods upped their price objective on shares of First Hawaiian from $25.00 to $28.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Barclays lifted their target price on shares of First Hawaiian from $25.00 to $27.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Finally, Stephens started coverage on First Hawaiian in a report on Wednesday, November 27th. They issued an "equal weight" rating and a $30.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $26.14.

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.