Allspring Global Investments Holdings LLC Cuts Position in First Hawaiian, Inc. (NASDAQ:FHB)

Allspring Global Investments Holdings LLC lowered its position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 10.2% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,218,529 shares of the bank's stock after selling 139,072 shares during the period. Allspring Global Investments Holdings LLC owned 0.95% of First Hawaiian worth $28,209,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FHB. Wellington Management Group LLP lifted its holdings in First Hawaiian by 14.3% in the 4th quarter. Wellington Management Group LLP now owns 396,253 shares of the bank's stock valued at $9,058,000 after purchasing an additional 49,547 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of First Hawaiian by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank's stock worth $334,927,000 after acquiring an additional 87,304 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of First Hawaiian by 8.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank's stock worth $163,000 after acquiring an additional 550 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of First Hawaiian by 17.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 19,234 shares of the bank's stock worth $422,000 after acquiring an additional 2,892 shares during the period. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of First Hawaiian during the 1st quarter worth $42,000. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Stock Up 0.6 %

NASDAQ FHB traded up $0.14 during trading on Thursday, hitting $23.99. The stock had a trading volume of 647,441 shares, compared to its average volume of 651,400. The company has a market capitalization of $3.07 billion, a PE ratio of 13.79 and a beta of 0.98. The firm has a 50 day moving average price of $23.49 and a 200 day moving average price of $22.36. First Hawaiian, Inc. has a twelve month low of $17.33 and a twelve month high of $26.18.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings results on Friday, July 26th. The bank reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.06. The company had revenue of $204.62 million for the quarter, compared to analyst estimates of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. On average, sell-side analysts anticipate that First Hawaiian, Inc. will post 1.78 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Keefe, Bruyette & Woods lifted their price target on First Hawaiian from $25.00 to $26.00 and gave the stock a "market perform" rating in a report on Monday, July 29th. Wells Fargo & Company reduced their price target on First Hawaiian from $22.00 to $20.00 and set an "underweight" rating on the stock in a report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their price target on First Hawaiian from $24.00 to $23.00 and set an "underweight" rating on the stock in a report on Wednesday, October 9th. Barclays lifted their price target on First Hawaiian from $24.00 to $25.00 and gave the stock an "equal weight" rating in a report on Monday, July 29th. Finally, The Goldman Sachs Group raised their price objective on First Hawaiian from $21.00 to $24.00 and gave the stock a "sell" rating in a research report on Monday, July 29th. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, First Hawaiian has an average rating of "Reduce" and a consensus target price of $24.17.

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.