Sei Investments Co. Trims Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

Sei Investments Co. cut its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 7.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 492,494 shares of the bank's stock after selling 38,795 shares during the period. Sei Investments Co. owned approximately 0.39% of First Hawaiian worth $12,780,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FHB. Raymond James Financial Inc. bought a new position in First Hawaiian during the 4th quarter valued at $32,086,000. FMR LLC lifted its position in shares of First Hawaiian by 20.3% during the third quarter. FMR LLC now owns 913,400 shares of the bank's stock valued at $21,145,000 after purchasing an additional 154,136 shares in the last quarter. Jane Street Group LLC increased its stake in First Hawaiian by 91.4% in the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank's stock valued at $4,077,000 after buying an additional 84,120 shares during the last quarter. Edgestream Partners L.P. bought a new position in shares of First Hawaiian during the 3rd quarter worth approximately $1,641,000. Finally, Wealthfront Advisers LLC purchased a new position in shares of First Hawaiian in the 4th quarter worth approximately $1,507,000. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Price Performance

Shares of FHB traded up $0.45 during trading hours on Wednesday, hitting $24.68. The company's stock had a trading volume of 919,905 shares, compared to its average volume of 691,713. The business has a 50 day simple moving average of $26.10 and a two-hundred day simple moving average of $25.68. First Hawaiian, Inc. has a 52-week low of $19.48 and a 52-week high of $28.80. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 3.28 and a beta of 0.77.

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First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same period last year, the business posted $0.37 earnings per share. Research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid 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 4.21%. First Hawaiian's payout ratio is 58.10%.

Analyst Ratings Changes

A number of analysts recently commented on FHB shares. The Goldman Sachs Group lifted their price target on First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their price target on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a "market perform" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of First Hawaiian from $27.00 to $29.00 and gave the company an "underweight" rating in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company raised their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, First Hawaiian has an average rating of "Hold" and an average price target of $29.00.

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.