New York State Common Retirement Fund Has $3.24 Million Position in First Hawaiian, Inc. (NASDAQ:FHB)

New York State Common Retirement Fund trimmed its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 124,699 shares of the bank's stock after selling 13,000 shares during the quarter. New York State Common Retirement Fund owned approximately 0.10% of First Hawaiian worth $3,236,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of First Hawaiian by 51.5% in the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank's stock worth $43,000 after buying an additional 625 shares during the last quarter. Quarry LP increased its position in First Hawaiian by 459.2% in the 3rd quarter. Quarry LP now owns 2,483 shares of the bank's stock valued at $57,000 after acquiring an additional 2,039 shares during the period. GAMMA Investing LLC grew its position in First Hawaiian by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank's stock valued at $94,000 after buying an additional 461 shares in the last quarter. KBC Group NV raised its holdings in First Hawaiian by 72.1% during the fourth quarter. KBC Group NV now owns 6,154 shares of the bank's stock worth $160,000 after purchasing an additional 2,579 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of First Hawaiian by 58.8% in the third quarter. Nisa Investment Advisors LLC now owns 7,020 shares of the bank's stock valued at $163,000 after buying an additional 2,600 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.

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First Hawaiian Stock Down 1.4 %

Shares of NASDAQ:FHB traded down $0.37 during midday trading on Tuesday, reaching $26.54. 382,554 shares of the company were exchanged, compared to its average volume of 748,956. The stock has a fifty day simple moving average of $26.50 and a two-hundred day simple moving average of $25.50. The firm has a market cap of $3.39 billion, a PE ratio of 14.82, a P/E/G ratio of 3.28 and a beta of 0.99. First Hawaiian, Inc. has a fifty-two week low of $19.48 and a fifty-two week high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, topping 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 last year, the firm earned $0.37 EPS. As a group, analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.92%. First Hawaiian's dividend payout ratio (DPR) is currently 58.10%.

Wall Street Analysts Forecast Growth

FHB has been the subject of a number of research reports. Stephens initiated coverage on shares of First Hawaiian in a report on Wednesday, November 27th. They set an "equal weight" rating and a $30.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of First Hawaiian from $27.00 to $29.00 and gave the company an "underweight" rating in a research note on Monday, February 3rd. Piper Sandler lifted their price target on First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Barclays lifted their price objective on First Hawaiian from $28.00 to $30.00 and gave the company an "equal weight" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company increased their price objective on First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a 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 company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $29.00.

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.