First Hawaiian, Inc. (NASDAQ:FHB) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 732,713 shares of the bank's stock after selling 16,130 shares during the quarter. Granite Investment Partners LLC owned about 0.57% of First Hawaiian worth $19,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in shares of First Hawaiian by 51.0% during the 4th quarter. Sterling Capital Management LLC now owns 7,636 shares of the bank's stock worth $198,000 after buying an additional 2,580 shares during the period. Covestor Ltd raised its holdings in shares of First Hawaiian by 8.1% in the fourth quarter. Covestor Ltd now owns 7,226 shares of the bank's stock valued at $188,000 after buying an additional 539 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in First Hawaiian by 204.4% in the 4th quarter. Treasurer of the State of North Carolina now owns 169,410 shares of the bank's stock valued at $4,396,000 after buying an additional 113,760 shares during the last quarter. Raymond James Financial Inc. acquired a new position in First Hawaiian in the fourth quarter valued at approximately $32,086,000. Finally, Bank of Montreal Can boosted its holdings in First Hawaiian by 11.9% during the fourth quarter. Bank of Montreal Can now owns 20,028 shares of the bank's stock worth $520,000 after buying an additional 2,126 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on First Hawaiian from $27.00 to $29.00 and gave the company an "underweight" rating in a research note on Monday, February 3rd. Piper Sandler lifted their price target on First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Wells Fargo & Company cut their price target on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating for the company in a research note on Wednesday, April 9th. Keefe, Bruyette & Woods boosted their price target on shares of First Hawaiian from $28.00 to $31.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group upped their target price on First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $28.29.

First Hawaiian Price Performance

NASDAQ FHB traded up $0.41 on Tuesday, hitting $22.15. The stock had a trading volume of 811,542 shares, compared to its average volume of 717,169. The business's fifty day moving average price is $24.93 and its 200 day moving average price is $25.54. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 12.37, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77. First Hawaiian, Inc. has a 52-week low of $19.48 and a 52-week high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, beating analysts' consensus estimates 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 period in the previous year, the business earned $0.37 earnings per share. As a group, sell-side analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were given a dividend of $0.26 per share. 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 4.70%. First Hawaiian's payout ratio is 58.10%.

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.