Massachusetts Financial Services Co. MA Sells 9,529 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Massachusetts Financial Services Co. MA reduced its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,014,769 shares of the bank’s stock after selling 9,529 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in First Hawaiian were worth $52,283,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in First Hawaiian during the fourth quarter valued at approximately $36,266,000. Raymond James Financial Inc. bought a new position in shares of First Hawaiian during the fourth quarter worth $32,086,000. Alliancebernstein L.P. grew its holdings in shares of First Hawaiian by 19.7% in the 4th quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank’s stock valued at $136,087,000 after buying an additional 864,420 shares during the period. FMR LLC increased its position in shares of First Hawaiian by 20.3% in the 3rd quarter. FMR LLC now owns 913,400 shares of the bank’s stock valued at $21,145,000 after buying an additional 154,136 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in First Hawaiian by 91.4% during the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock worth $4,077,000 after buying an additional 84,120 shares during the period. 97.63% of the stock is owned by institutional investors.

First Hawaiian Stock Down 4.4 %

Shares of FHB stock opened at $21.66 on Friday. First Hawaiian, Inc. has a 12 month low of $19.48 and a 12 month high of $28.80. The company’s fifty day simple moving average is $25.93 and its 200-day simple moving average is $25.66. The firm has a market cap of $2.73 billion, a PE ratio of 12.10, a P/E/G ratio of 3.28 and a beta of 0.77.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same period last year, the company posted $0.37 EPS. On average, equities analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Friday, February 14th. First Hawaiian’s dividend payout ratio is currently 58.10%.

Wall Street Analysts Forecast Growth

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

First Hawaiian Company Profile

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.