First Hawaiian, Inc. (NASDAQ:FHB) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 20.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,169,511 shares of the bank’s stock after selling 296,662 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in First Hawaiian were worth $30,349,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FHB. Jones Financial Companies Lllp acquired a new stake in First Hawaiian in the 4th quarter valued at $36,000. Quarry LP boosted its position in shares of First Hawaiian by 459.2% in the third quarter. Quarry LP now owns 2,483 shares of the bank’s stock worth $57,000 after buying an additional 2,039 shares during the period. Blue Trust Inc. boosted its position in shares of First Hawaiian by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank’s stock worth $71,000 after buying an additional 904 shares during the period. Global Retirement Partners LLC grew its stake in shares of First Hawaiian by 32.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock valued at $74,000 after buying an additional 693 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of First Hawaiian by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank’s stock valued at $94,000 after buying an additional 461 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

FHB opened at $24.68 on Thursday. The company has a market capitalization of $3.11 billion, a P/E ratio of 13.79, a PEG ratio of 3.28 and a beta of 0.77. The company has a 50-day moving average of $26.10 and a 200-day moving average of $25.68. First Hawaiian, Inc. has a 1-year low of $19.48 and a 1-year high of $28.80.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same period last year, the company earned $0.37 earnings per share. As a group, sell-side analysts expect that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.21%. The ex-dividend date was Friday, February 14th. First Hawaiian’s dividend payout ratio (DPR) is presently 58.10%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FHB. JPMorgan Chase & Co. increased their price objective on shares of First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. The Goldman Sachs Group lifted their price target on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Barclays raised their target price on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, Piper Sandler boosted their price target on First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.00.

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.