First Hawaiian, Inc. (NASDAQ:FHB) Shares Sold by Amalgamated Bank

Amalgamated Bank lessened its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 29.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 40,091 shares of the bank’s stock after selling 16,967 shares during the period. Amalgamated Bank’s holdings in First Hawaiian were worth $928,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Raymond James & Associates raised its holdings in shares of First Hawaiian by 5.5% during the second 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 during the period. The Manufacturers Life Insurance Company grew its position in 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 in the last quarter. American Century Companies Inc. raised its stake in First Hawaiian by 6.5% during the 2nd 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. lifted its holdings in shares of First Hawaiian by 100.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the bank’s stock valued at $80,000 after purchasing an additional 1,943 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of First Hawaiian in the second quarter valued at $462,000. 97.63% of the stock is owned by institutional investors.

First Hawaiian Stock Down 0.5 %

NASDAQ FHB opened at $27.24 on Friday. The stock has a market capitalization of $3.48 billion, a PE ratio of 15.57 and a beta of 0.96. First Hawaiian, Inc. has a 12-month low of $18.77 and a 12-month high of $28.38. The company has a 50 day moving average price of $24.09 and a two-hundred day moving average price of $22.83.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s payout ratio is presently 59.43%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research report on Monday, July 29th. Barclays boosted their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Piper Sandler increased their target price on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company boosted their price target on shares of First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Four investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $24.33.

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.