Allspring Global Investments Holdings LLC Has $28.21 Million Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

Allspring Global Investments Holdings LLC lessened its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 10.2% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,218,529 shares of the bank’s stock after selling 139,072 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.95% of First Hawaiian worth $28,209,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in First Hawaiian by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank’s stock valued at $334,927,000 after acquiring an additional 87,304 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of First Hawaiian by 9.9% in 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 purchasing an additional 942,634 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of First Hawaiian by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock worth $108,057,000 after buying an additional 370,722 shares during the period. American Century Companies Inc. grew its holdings in shares of First Hawaiian by 6.5% during the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after buying an additional 203,407 shares in the last quarter. Finally, Reinhart Partners LLC. raised its position in First Hawaiian by 6.1% in the 3rd quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock valued at $56,980,000 after buying an additional 141,327 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Price Performance

FHB stock opened at $23.85 on Thursday. First Hawaiian, Inc. has a one year low of $17.18 and a one year high of $26.18. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 13.71 and a beta of 0.98. The company has a fifty day moving average price of $23.48 and a two-hundred day moving average price of $22.35.

First Hawaiian (NASDAQ:FHB) last announced its earnings results on Friday, July 26th. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.42 by $0.06. The business had revenue of $204.62 million during the quarter, compared to the consensus estimate of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. Research analysts anticipate that First Hawaiian, Inc. will post 1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FHB shares. Barclays upped their price target on First Hawaiian from $24.00 to $25.00 and gave the stock 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 report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price target on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. Wells Fargo & Company reduced their price objective on shares of First Hawaiian from $22.00 to $20.00 and set an “underweight” rating for the company in a research note on Tuesday, October 1st. Finally, The Goldman Sachs Group lifted their target price on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research report 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 MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $24.17.

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.