Reinhart Partners LLC. Cuts Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

Reinhart Partners LLC. reduced its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 17.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,020,442 shares of the bank's stock after selling 440,877 shares during the quarter. First Hawaiian makes up approximately 2.0% of Reinhart Partners LLC.'s investment portfolio, making the stock its 22nd biggest position. Reinhart Partners LLC. owned approximately 1.58% of First Hawaiian worth $52,430,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its holdings in First Hawaiian by 51.5% during the third 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. Whittier Trust Co. of Nevada Inc. purchased a new position in First Hawaiian in the 3rd quarter worth approximately $51,000. Quarry LP boosted its stake in First Hawaiian by 459.2% in the 3rd quarter. Quarry LP now owns 2,483 shares of the bank's stock worth $57,000 after purchasing an additional 2,039 shares during the period. Abich Financial Wealth Management LLC lifted its holdings in shares of First Hawaiian by 32.5% in the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank's stock worth $55,000 after buying an additional 644 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of First Hawaiian by 49.1% in the third quarter. GAMMA Investing LLC now owns 3,163 shares of the bank's stock worth $73,000 after buying an additional 1,041 shares in the last quarter. Institutional investors own 97.63% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stephens started coverage on shares of First Hawaiian in a research report on Wednesday, November 27th. They issued an "equal weight" rating and a $30.00 price target on the stock. Barclays increased their price target on shares of First Hawaiian from $27.00 to $28.00 and gave the company an "equal weight" rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price target on First Hawaiian from $25.00 to $27.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods raised their price objective on First Hawaiian from $25.00 to $28.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on First Hawaiian from $22.00 to $26.00 and gave the company a "sell" rating in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, First Hawaiian currently has a consensus rating of "Hold" and an average price target of $26.86.

First Hawaiian Stock Performance

First Hawaiian stock traded up $0.25 during trading hours on Monday, hitting $25.01. The company had a trading volume of 1,159,858 shares, compared to its average volume of 894,180. The firm has a market cap of $3.20 billion, a P/E ratio of 14.29 and a beta of 0.99. The company has a 50-day moving average price of $26.64 and a two-hundred day moving average price of $24.57. First Hawaiian, Inc. has a 1 year low of $19.48 and a 1 year high of $28.80.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a dividend of $0.26 per share. The ex-dividend date was Monday, November 18th. This represents a $1.04 annualized dividend and a yield of 4.16%. First Hawaiian's payout ratio is currently 59.43%.

About First Hawaiian

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.