First Hawaiian, Inc. (NASDAQ:FHB) Stake Raised by M&T Bank Corp

M&T Bank Corp raised its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 9.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,252 shares of the bank’s stock after acquiring an additional 1,461 shares during the quarter. M&T Bank Corp’s holdings in First Hawaiian were worth $376,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of First Hawaiian by 5.0% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank’s stock worth $237,000 after acquiring an additional 488 shares in the last quarter. Whittier Trust Co. increased its position in First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after purchasing an additional 507 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of First Hawaiian by 5.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,296 shares of the bank’s stock worth $262,000 after purchasing an additional 569 shares in the last quarter. Blue Trust Inc. lifted its holdings 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 buying an additional 625 shares during the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in shares of First Hawaiian by 32.5% in the 2nd quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock valued at $55,000 after buying an additional 644 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

FHB has been the topic of several recent research reports. Keefe, Bruyette & Woods raised their price objective on shares of First Hawaiian from $25.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their price objective on shares of First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upped their price objective on shares of First Hawaiian from $21.00 to $22.00 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. Stephens started coverage on First Hawaiian in a report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 target price on the stock. Finally, Barclays upped their price target on First Hawaiian from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $26.71.

First Hawaiian Price Performance

FHB stock opened at $25.19 on Thursday. The stock has a market capitalization of $3.22 billion, a price-to-earnings ratio of 14.39 and a beta of 0.98. The company has a 50-day moving average of $26.17 and a two-hundred day moving average of $23.84. First Hawaiian, Inc. has a 52-week low of $19.48 and a 52-week high of $28.80.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a dividend of $0.26 per share. The ex-dividend date was Monday, November 18th. This represents a $1.04 annualized dividend and a yield of 4.13%. First Hawaiian’s payout ratio 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.