JPMorgan Chase & Co. Has $79.94 Million Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

JPMorgan Chase & Co. lessened its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 19.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,452,923 shares of the bank's stock after selling 833,610 shares during the quarter. JPMorgan Chase & Co. owned about 2.70% of First Hawaiian worth $79,935,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in shares of First Hawaiian by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank's stock valued at $218,025,000 after purchasing an additional 942,634 shares in the last quarter. AQR Capital Management LLC lifted its stake in First Hawaiian by 958.2% during the second quarter. AQR Capital Management LLC now owns 439,423 shares of the bank's stock valued at $9,043,000 after purchasing an additional 397,897 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in First Hawaiian by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank's stock worth $108,057,000 after buying an additional 370,722 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in First Hawaiian by 96.8% in the third quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank's stock worth $11,072,000 after buying an additional 235,253 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of First Hawaiian by 6.5% in the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank's stock valued at $69,321,000 after buying an additional 203,407 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. The Goldman Sachs Group lifted their target price on First Hawaiian from $22.00 to $26.00 and gave the stock a "sell" rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods lifted their price target on First Hawaiian from $25.00 to $28.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Stephens initiated coverage on shares of First Hawaiian in a research note on Wednesday, November 27th. They set an "equal weight" rating and a $30.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of First Hawaiian from $21.00 to $22.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of First Hawaiian from $25.00 to $27.00 and gave the company an "underweight" rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, First Hawaiian currently has an average rating of "Hold" and an average target price of $26.86.

First Hawaiian Stock Performance

Shares of FHB stock traded up $0.33 during trading on Friday, hitting $25.90. 558,131 shares of the company were exchanged, compared to its average volume of 597,415. The business's 50-day simple moving average is $26.62 and its 200 day simple moving average is $24.31. 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 $3.31 billion, a price-to-earnings ratio of 14.80 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. Investors of record on Monday, November 18th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.02%. First Hawaiian's dividend payout ratio is 59.43%.

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.