Los Angeles Capital Management LLC Buys 76,710 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Los Angeles Capital Management LLC raised its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 398.8% in the 3rd quarter, Holdings Channel.com reports. The firm owned 95,944 shares of the bank’s stock after acquiring an additional 76,710 shares during the quarter. Los Angeles Capital Management LLC’s holdings in First Hawaiian were worth $2,221,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in First Hawaiian during the first quarter worth about $260,000. Sei Investments Co. boosted its holdings in shares of First Hawaiian by 11.9% in the first quarter. Sei Investments Co. now owns 546,268 shares of the bank’s stock worth $11,996,000 after acquiring an additional 58,286 shares during the period. Russell Investments Group Ltd. grew its position in shares of First Hawaiian by 98.5% in the first quarter. Russell Investments Group Ltd. now owns 11,824 shares of the bank’s stock valued at $260,000 after purchasing an additional 5,868 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of First Hawaiian by 9.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 136,316 shares of the bank’s stock valued at $2,992,000 after purchasing an additional 11,553 shares during the period. Finally, MQS Management LLC purchased a new stake in First Hawaiian during the 1st quarter worth about $209,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Performance

NASDAQ FHB opened at $27.39 on Thursday. First Hawaiian, Inc. has a 52-week low of $18.58 and a 52-week high of $28.38. The company has a fifty day moving average of $24.02 and a 200-day moving average of $22.79. The company has a market capitalization of $3.50 billion, a P/E ratio of 15.87 and a beta of 0.96.

First Hawaiian Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s dividend payout ratio (DPR) is currently 59.43%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. The Goldman Sachs Group lifted their target price on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a report on Monday, July 29th. Wells Fargo & Company upped their target price on shares of First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a report on Monday, October 28th. Piper Sandler raised their price target 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. JPMorgan Chase & Co. decreased their price target on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. Finally, Barclays lifted their price objective on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $24.33.

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.