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

Allspring Global Investments Holdings LLC decreased its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 3.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,357,601 shares of the bank’s stock after selling 53,564 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.06% of First Hawaiian worth $28,184,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in First Hawaiian during the fourth quarter worth about $32,689,000. Hotchkis & Wiley Capital Management LLC boosted its position in shares of First Hawaiian by 124.3% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 2,540,656 shares of the bank’s stock worth $58,079,000 after purchasing an additional 1,408,160 shares during the period. Dimensional Fund Advisors LP increased its holdings in First Hawaiian by 17.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,509,201 shares of the bank’s stock valued at $103,082,000 after purchasing an additional 668,871 shares during the last quarter. Harbor Capital Advisors Inc. raised its position in First Hawaiian by 187.0% in the second quarter. Harbor Capital Advisors Inc. now owns 243,009 shares of the bank’s stock valued at $5,045,000 after purchasing an additional 158,327 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in First Hawaiian by 8.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,540,275 shares of the bank’s stock worth $35,211,000 after purchasing an additional 115,109 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods lifted their price objective on First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research note on Monday, July 29th. The Goldman Sachs Group boosted their price target on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $18.00 to $22.00 and gave the company an “underweight” rating in a research note on Monday, July 29th. Piper Sandler lifted their price objective on shares of First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. lowered shares of First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 target price on the stock. in a report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $24.67.

First Hawaiian Stock Down 0.9 %

Shares of NASDAQ:FHB opened at $23.92 on Wednesday. First Hawaiian, Inc. has a fifty-two week low of $17.18 and a fifty-two week high of $26.18. The firm’s 50 day moving average price is $22.80 and its 200 day moving average price is $21.74. The stock has a market cap of $3.06 billion, a price-to-earnings ratio of 13.75 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, July 26th. The bank reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. The business had revenue of $204.62 million for the quarter, compared to analyst estimates of $202.94 million. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. On average, equities analysts anticipate that First Hawaiian, Inc. will post 1.78 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Monday, August 19th. First Hawaiian’s dividend payout ratio (DPR) is 59.77%.

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.