Massachusetts Financial Services Co. MA Decreases Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Massachusetts Financial Services Co. MA decreased its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 2.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,024,298 shares of the bank's stock after selling 56,972 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.58% of First Hawaiian worth $46,862,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its holdings in First Hawaiian by 5.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank's stock valued at $237,000 after purchasing an additional 488 shares during the period. Whittier Trust Co. boosted its position in shares of First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank's stock worth $26,000 after purchasing an additional 507 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of First Hawaiian by 5.3% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,296 shares of the bank's stock worth $262,000 after purchasing an additional 569 shares in the last quarter. Blue Trust Inc. boosted its position in shares of 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 purchasing an additional 625 shares in the last quarter. Finally, Abich Financial Wealth Management LLC boosted its position in shares of First Hawaiian by 32.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank's stock worth $55,000 after purchasing an additional 644 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Price Performance

Shares of FHB traded up $0.40 during trading hours on Monday, hitting $28.30. The stock had a trading volume of 615,219 shares, compared to its average volume of 650,053. The firm has a market capitalization of $3.62 billion, a PE ratio of 16.19 and a beta of 0.96. The stock has a fifty day moving average price of $24.66 and a 200 day moving average price of $23.10. First Hawaiian, Inc. has a 12 month low of $18.77 and a 12 month high of $28.80.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.04 annualized dividend and a yield of 3.67%. First Hawaiian's dividend payout ratio (DPR) is presently 59.43%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FHB. The Goldman Sachs Group lifted their target price 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 lifted their target price on First Hawaiian from $22.00 to $27.00 and gave the stock a "neutral" rating in a report on Monday, July 29th. Barclays lifted their target price on First Hawaiian from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Monday, July 29th. JPMorgan Chase & Co. reduced their target price on First Hawaiian from $24.00 to $23.00 and set an "underweight" rating for the company in a report on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods lifted their price objective on First Hawaiian from $25.00 to $26.00 and gave the stock a "market perform" rating in a report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and a consensus target price of $24.33.

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.