JPMorgan Chase & Co. Sells 443,773 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

JPMorgan Chase & Co. cut its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,009,150 shares of the bank's stock after selling 443,773 shares during the quarter. JPMorgan Chase & Co. owned approximately 2.35% of First Hawaiian worth $78,087,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in First Hawaiian in the 4th quarter worth approximately $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 worth $21,145,000 after buying an additional 154,136 shares in the last quarter. Jane Street Group LLC boosted its stake in First Hawaiian by 91.4% during the third quarter. Jane Street Group LLC now owns 176,121 shares of the bank's stock valued at $4,077,000 after buying an additional 84,120 shares during the period. Wealthfront Advisers LLC purchased a new position in First Hawaiian during the fourth quarter worth about $1,507,000. Finally, Amundi increased its stake in First Hawaiian by 186.5% in the 4th quarter. Amundi now owns 64,503 shares of the bank's stock worth $1,617,000 after acquiring an additional 41,989 shares during the last quarter. Institutional investors own 97.63% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on FHB. Barclays cut their price objective on First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday. The Goldman Sachs Group boosted their price target on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a research note on Monday, February 3rd. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their target price on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an "underweight" rating in a research report on Monday, February 3rd. Finally, Keefe, Bruyette & Woods raised their price target on First Hawaiian from $28.00 to $31.00 and gave the company a "market perform" rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, First Hawaiian currently has a consensus rating of "Hold" and an average price target of $28.57.

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First Hawaiian Price Performance

NASDAQ FHB traded down $0.41 during trading on Tuesday, hitting $21.26. 1,055,287 shares of the company's stock traded hands, compared to its average volume of 703,721. The stock has a fifty day moving average of $25.62 and a two-hundred day moving average of $25.61. 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 $2.68 billion, a P/E ratio of 11.88, a PEG ratio of 3.28 and a beta of 0.77.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its earnings results on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted $0.37 earnings per share. As a group, analysts expect that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Friday, February 14th. 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.