Victory Capital Management Inc. Sells 27,381 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Victory Capital Management Inc. cut its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 503,423 shares of the bank's stock after selling 27,381 shares during the period. Victory Capital Management Inc. owned approximately 0.39% of First Hawaiian worth $11,654,000 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 & Associates lifted its stake in First Hawaiian by 5.5% during the 2nd quarter. Raymond James & Associates now owns 1,079,969 shares of the bank's stock valued at $22,420,000 after acquiring an additional 56,445 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of First Hawaiian by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank's stock worth $218,025,000 after purchasing an additional 942,634 shares during the last quarter. American Century Companies Inc. grew its holdings in First Hawaiian by 6.5% during the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank's stock valued at $69,321,000 after purchasing an additional 203,407 shares during the period. Benjamin F. Edwards & Company Inc. increased its position in First Hawaiian by 100.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the bank's stock worth $80,000 after buying an additional 1,943 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of First Hawaiian in the second quarter valued at $462,000. Institutional investors and hedge funds own 97.63% of the company's stock.

Analyst Ratings Changes

FHB has been the topic of several recent research reports. Piper Sandler upped their price objective 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. Keefe, Bruyette & Woods boosted their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the company a "market perform" rating in a report on Monday, July 29th. Wells Fargo & Company increased their target price on First Hawaiian from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Monday, October 28th. JPMorgan Chase & Co. reduced their price target on shares of First Hawaiian from $24.00 to $23.00 and set an "underweight" rating for the company in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group raised their price target on First Hawaiian from $21.00 to $24.00 and gave the company a "sell" rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, First Hawaiian currently has an average rating of "Reduce" and an average price target of $24.33.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $26.99 on Thursday. The company has a market cap of $3.45 billion, a PE ratio of 15.42 and a beta of 0.96. First Hawaiian, Inc. has a 1 year low of $18.77 and a 1 year high of $28.38. The stock's 50-day moving average is $24.48 and its 200 day moving average is $23.02.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian's payout ratio is 59.43%.

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.