First Hawaiian, Inc. (NASDAQ:FHB) Shares Sold by State Street Corp

State Street Corp cut its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,584,512 shares of the bank’s stock after selling 295,470 shares during the quarter. State Street Corp owned approximately 4.37% of First Hawaiian worth $129,281,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. lifted its position in First Hawaiian by 68.7% during the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after buying an additional 507 shares during the period. Blue Trust Inc. increased its stake in shares of First Hawaiian by 51.5% during 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 last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of First Hawaiian during the 3rd quarter valued at about $51,000. Abich Financial Wealth Management LLC lifted its holdings in shares of First Hawaiian by 32.5% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock worth $55,000 after acquiring an additional 644 shares during the period. Finally, Quarry LP boosted its position in shares of First Hawaiian by 459.2% in the third quarter. Quarry LP now owns 2,483 shares of the bank’s stock worth $57,000 after acquiring an additional 2,039 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Stephens assumed coverage on shares of First Hawaiian in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price target for the company. Keefe, Bruyette & Woods increased their target price on First Hawaiian from $25.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Barclays boosted their price target on First Hawaiian from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group upped their price target on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. reduced their price objective on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, First Hawaiian presently has a consensus rating of “Hold” and an average price target of $26.14.

First Hawaiian Price Performance

Shares of NASDAQ FHB opened at $27.06 on Friday. First Hawaiian, Inc. has a 1-year low of $19.48 and a 1-year high of $28.80. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 15.46 and a beta of 0.98. The business has a 50-day moving average of $25.95 and a 200-day moving average of $23.69.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.84%. The ex-dividend date was Monday, November 18th. First Hawaiian’s dividend payout ratio (DPR) is 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.