1,397,543 Shares in First Hawaiian, Inc. (NASDAQ:FHB) Purchased by Norges Bank

Norges Bank purchased a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,397,543 shares of the bank's stock, valued at approximately $36,266,000. Norges Bank owned approximately 1.09% of First Hawaiian at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of First Hawaiian by 1.2% in the third quarter. Wellington Management Group LLP now owns 686,701 shares of the bank's stock worth $15,897,000 after purchasing an additional 7,926 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in First Hawaiian in the 3rd quarter worth about $632,000. Jane Street Group LLC increased its position in First Hawaiian by 91.4% in the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank's stock worth $4,077,000 after purchasing an additional 84,120 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in First Hawaiian by 88.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 13,530 shares of the bank's stock worth $351,000 after purchasing an additional 6,366 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in First Hawaiian by 78.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,352 shares of the bank's stock worth $610,000 after purchasing an additional 11,604 shares during the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FHB. Keefe, Bruyette & Woods increased their price objective on First Hawaiian from $28.00 to $31.00 and gave the company a "market perform" rating in a report on Monday, February 3rd. Piper Sandler increased their price objective on First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. raised their target price on First Hawaiian from $27.00 to $29.00 and gave the company an "underweight" rating in a report on Monday, February 3rd. Wells Fargo & Company lowered their target price on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating on the stock in a report on Wednesday. Finally, Barclays reduced their price objective on First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $28.29.

First Hawaiian Stock Down 5.1 %

Shares of First Hawaiian stock traded down $1.14 during trading on Thursday, reaching $21.40. 92,401 shares of the company were exchanged, compared to its average volume of 858,653. First Hawaiian, Inc. has a twelve month low of $19.48 and a twelve month high of $28.80. The business has a 50-day moving average price of $25.43 and a 200-day moving average price of $25.58. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 3.28 and a beta of 0.77.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, beating analysts' consensus estimates 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 period last year, the business earned $0.37 EPS. On average, equities research analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.26 dividend. 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 4.86%. First Hawaiian's dividend payout ratio (DPR) is 58.10%.

First Hawaiian 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.