Allspring Global Investments Holdings LLC Increases Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Allspring Global Investments Holdings LLC increased its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 1.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,411,165 shares of the bank’s stock after purchasing an additional 17,927 shares during the period. Allspring Global Investments Holdings LLC owned 1.11% of First Hawaiian worth $30,989,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in FHB. Global Retirement Partners LLC lifted its holdings in shares of First Hawaiian by 196.9% in the fourth quarter. Global Retirement Partners LLC now owns 1,253 shares of the bank’s stock worth $27,000 after buying an additional 831 shares in the last quarter. GAMMA Investing LLC purchased a new stake in First Hawaiian in the 4th quarter worth approximately $37,000. Quent Capital LLC lifted its stake in First Hawaiian by 86.5% in the 4th quarter. Quent Capital LLC now owns 1,759 shares of the bank’s stock worth $40,000 after purchasing an additional 816 shares in the last quarter. TFO Wealth Partners LLC boosted its holdings in First Hawaiian by 35,620.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,786 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,781 shares during the period. Finally, Parallel Advisors LLC grew its position in shares of First Hawaiian by 75.3% during the 4th quarter. Parallel Advisors LLC now owns 3,790 shares of the bank’s stock valued at $87,000 after purchasing an additional 1,628 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Trading Down 1.5 %

FHB opened at $20.52 on Friday. The stock has a market capitalization of $2.62 billion, a P/E ratio of 11.79 and a beta of 0.99. The stock has a 50-day moving average price of $20.83 and a 200-day moving average price of $21.34. First Hawaiian, Inc. has a 12-month low of $17.18 and a 12-month high of $23.22.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, April 26th. The bank reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. First Hawaiian had a return on equity of 9.16% and a net margin of 19.20%. The company had revenue of $205.80 million during the quarter, compared to the consensus estimate of $202.41 million. On average, equities research analysts predict that First Hawaiian, Inc. will post 1.71 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 5.07%. The ex-dividend date of this dividend was Friday, May 17th. First Hawaiian’s dividend payout ratio is currently 59.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FHB shares. Barclays dropped their price objective on First Hawaiian from $25.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Wells Fargo & Company cut their price objective on First Hawaiian from $20.00 to $18.00 and set an “underweight” rating for the company in a report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of First Hawaiian from $25.50 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $21.50.

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.