Massachusetts Financial Services Co. MA Sells 56,972 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Massachusetts Financial Services Co. MA lowered its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,024,298 shares of the bank’s stock after selling 56,972 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.58% of First Hawaiian worth $46,862,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FHB. Raymond James & Associates increased its position in shares of 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 purchasing an additional 56,445 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in First Hawaiian by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after acquiring an additional 942,634 shares during the last quarter. American Century Companies Inc. raised its stake in shares of First Hawaiian by 6.5% in the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock valued at $69,321,000 after acquiring 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 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the bank’s stock worth $80,000 after acquiring an additional 1,943 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of First Hawaiian during the 2nd quarter worth about $462,000. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Price Performance

NASDAQ:FHB opened at $27.90 on Monday. First Hawaiian, Inc. has a 1-year low of $18.77 and a 1-year high of $28.38. The company has a 50-day moving average of $24.66 and a 200 day moving average of $23.10. The firm has a market cap of $3.57 billion, a PE ratio of 15.94 and a beta of 0.96.

First Hawaiian Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.73%. First Hawaiian’s dividend payout ratio is presently 59.43%.

Analyst Ratings Changes

A number of research firms recently weighed in on FHB. Wells Fargo & Company increased their price objective on shares of First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. The Goldman Sachs Group boosted their price objective on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a report on Monday, July 29th. Piper Sandler increased their target price on First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. lowered their target price on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $24.33.

First Hawaiian 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.