First Hawaiian, Inc. (NASDAQ:FHB) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 602,199 shares of the bank's stock after selling 25,519 shares during the period. Principal Financial Group Inc. owned approximately 0.47% of First Hawaiian worth $13,941,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FHB. Whittier Trust Co. raised its position in First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank's stock valued at $26,000 after purchasing an additional 507 shares during the last quarter. Blue Trust Inc. increased its position in First Hawaiian by 51.5% in the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank's stock valued at $43,000 after acquiring an additional 625 shares during the period. Versant Capital Management Inc raised its stake in First Hawaiian by 55.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,895 shares of the bank's stock valued at $39,000 after acquiring an additional 678 shares during the last quarter. Abich Financial Wealth Management LLC lifted its position in First Hawaiian by 48.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank's stock worth $44,000 after acquiring an additional 652 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of First Hawaiian by 50.3% in the 2nd quarter. GAMMA Investing LLC now owns 2,122 shares of the bank's stock valued at $44,000 after purchasing an additional 710 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FHB shares. The Goldman Sachs Group lifted their target price on shares of First Hawaiian from $21.00 to $24.00 and gave the company a "sell" 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. Wells Fargo & Company upped their price target on shares of First Hawaiian from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Monday, October 28th. Barclays raised their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the company an "equal weight" rating in a research note on Monday, July 29th. Finally, Piper Sandler increased 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. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to MarketBeat.com, First Hawaiian has a consensus rating of "Reduce" and a consensus target price of $24.33.

First Hawaiian Price Performance

FHB traded down $0.04 during midday trading on Friday, reaching $27.20. 632,952 shares of the company's stock were exchanged, compared to its average volume of 606,326. 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 15.54 and a beta of 0.96. The business's 50-day moving average price is $24.24 and its 200 day moving average price is $22.91.

First Hawaiian Announces Dividend

The business also recently disclosed 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 dividend yield of 3.82%. First Hawaiian's dividend payout ratio is currently 59.43%.

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.