Los Angeles Capital Management LLC Increases Stock Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Los Angeles Capital Management LLC grew its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 398.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 95,944 shares of the bank's stock after acquiring an additional 76,710 shares during the period. Los Angeles Capital Management LLC owned about 0.08% of First Hawaiian worth $2,221,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Janney Montgomery Scott LLC acquired a new stake in shares of First Hawaiian during the first quarter worth about $260,000. Sei Investments Co. boosted its position in First Hawaiian by 11.9% in the 1st quarter. Sei Investments Co. now owns 546,268 shares of the bank's stock valued at $11,996,000 after buying an additional 58,286 shares during the period. Russell Investments Group Ltd. grew its stake in shares of First Hawaiian by 98.5% in the first quarter. Russell Investments Group Ltd. now owns 11,824 shares of the bank's stock worth $260,000 after acquiring an additional 5,868 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in shares of First Hawaiian by 9.3% during the first quarter. CANADA LIFE ASSURANCE Co now owns 136,316 shares of the bank's stock worth $2,992,000 after acquiring an additional 11,553 shares during the period. Finally, MQS Management LLC acquired a new stake in shares of First Hawaiian in the first quarter valued at $209,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. The Goldman Sachs Group upped their price target on First Hawaiian from $21.00 to $24.00 and gave the stock a "sell" rating in a report on Monday, July 29th. Piper Sandler raised their target price on shares of First Hawaiian from $22.00 to $27.00 and gave the company a "neutral" rating in a report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price target on shares of First Hawaiian from $25.00 to $26.00 and gave the stock a "market perform" rating in a report on Monday, July 29th. JPMorgan Chase & Co. dropped their price objective on shares of First Hawaiian from $24.00 to $23.00 and set an "underweight" rating on the stock in a research report on Wednesday, October 9th. Finally, Barclays lifted their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an "equal weight" rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average price target of $24.33.

First Hawaiian Stock Down 0.5 %

FHB traded down $0.15 on Thursday, reaching $27.24. The company had a trading volume of 608,720 shares, compared to its average volume of 649,520. First Hawaiian, Inc. has a 1 year low of $18.77 and a 1 year high of $28.38. The stock has a market capitalization of $3.48 billion, a PE ratio of 15.57 and a beta of 0.96. The stock has a 50-day moving average price of $24.09 and a 200-day moving average price of $22.83.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian's dividend payout ratio (DPR) is 59.43%.

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.