PDT Partners LLC Trims Stake in First Hawaiian, Inc. (NASDAQ:FHB)

PDT Partners LLC trimmed its holdings in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 76.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 28,320 shares of the bank's stock after selling 93,498 shares during the quarter. PDT Partners LLC's holdings in First Hawaiian were worth $656,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Whittier Trust Co. lifted its position in First Hawaiian by 68.7% in the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank's stock valued at $26,000 after purchasing an additional 507 shares during the last quarter. Blue Trust Inc. grew its holdings in First Hawaiian by 51.5% in the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank's stock worth $43,000 after acquiring an additional 625 shares during the last quarter. Versant Capital Management Inc increased its position in shares of First Hawaiian by 55.7% in the second quarter. Versant Capital Management Inc now owns 1,895 shares of the bank's stock valued at $39,000 after acquiring an additional 678 shares during the period. GAMMA Investing LLC raised its stake in shares of First Hawaiian by 50.3% during the second quarter. GAMMA Investing LLC now owns 2,122 shares of the bank's stock valued at $44,000 after acquiring an additional 710 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of First Hawaiian during the third quarter worth about $51,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Stock Down 1.2 %

NASDAQ:FHB traded down $0.34 on Tuesday, reaching $27.06. 588,622 shares of the company's stock traded hands, compared to its average volume of 652,556. The stock has a 50-day simple moving average of $25.22 and a 200-day simple moving average of $23.37. First Hawaiian, Inc. has a 12 month low of $19.48 and a 12 month high of $28.80. The firm has a market cap of $3.46 billion, a PE ratio of 15.46 and a beta of 0.98.

First Hawaiian Dividend Announcement

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

Wall Street Analysts Forecast Growth

FHB has been the topic of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of First Hawaiian from $24.00 to $23.00 and set an "underweight" rating on the stock in a research note on Wednesday, October 9th. Wells Fargo & Company upped their target price on First Hawaiian from $21.00 to $22.00 and gave the stock an "underweight" rating in a report on Tuesday. The Goldman Sachs Group raised their target price on First Hawaiian from $22.00 to $26.00 and gave the company a "sell" rating in a research note on Tuesday, November 26th. Finally, Stephens started coverage on First Hawaiian in a research note on Wednesday, November 27th. They issued an "equal weight" rating and a $30.00 price target on the stock. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $25.57.

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.