Victory Capital Management Inc. Sells 23,914 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Victory Capital Management Inc. trimmed its position in First Hawaiian, Inc. (NASDAQ:FHB) by 4.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 479,509 shares of the bank’s stock after selling 23,914 shares during the quarter. Victory Capital Management Inc.’s holdings in First Hawaiian were worth $12,443,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in FHB. Atria Investments Inc increased its stake in shares of First Hawaiian by 9.2% in the 3rd quarter. Atria Investments Inc now owns 35,769 shares of the bank’s stock valued at $828,000 after purchasing an additional 3,000 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in First Hawaiian in the third quarter valued at about $200,000. Los Angeles Capital Management LLC grew its position in First Hawaiian by 398.8% in the third quarter. Los Angeles Capital Management LLC now owns 95,944 shares of the bank’s stock valued at $2,221,000 after acquiring an additional 76,710 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in First Hawaiian by 5.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 11,296 shares of the bank’s stock worth $262,000 after acquiring an additional 569 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in shares of First Hawaiian by 2.2% in the third quarter. OneDigital Investment Advisors LLC now owns 30,615 shares of the bank’s stock worth $709,000 after acquiring an additional 667 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Stephens began coverage on shares of First Hawaiian in a report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price target on the stock. Piper Sandler upped their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods increased their price target on First Hawaiian from $28.00 to $31.00 and gave the company a “market perform” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their price objective on First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group increased their target price on First Hawaiian from $26.00 to $29.00 and gave the company a “sell” rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat.com, First Hawaiian presently has an average rating of “Hold” and a consensus price target of $29.00.

First Hawaiian Stock Performance

NASDAQ:FHB opened at $24.53 on Thursday. First Hawaiian, Inc. has a fifty-two week low of $19.48 and a fifty-two week high of $28.80. The company has a 50 day simple moving average of $26.43 and a two-hundred day simple moving average of $25.58. The company has a market capitalization of $3.10 billion, a PE ratio of 13.70, a P/E/G ratio of 3.28 and a beta of 0.94.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate 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 quarter in the previous year, the firm earned $0.37 earnings per share. Research analysts predict that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Friday, February 14th. First Hawaiian’s dividend payout ratio is 58.10%.

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.