First Hawaiian, Inc. (NASDAQ:FHB) Short Interest Down 10.8% in October

First Hawaiian, Inc. (NASDAQ:FHB) saw a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 4,060,000 shares, a drop of 10.8% from the October 15th total of 4,550,000 shares. Approximately 3.2% of the shares of the company are short sold. Based on an average daily trading volume, of 546,200 shares, the days-to-cover ratio is presently 7.4 days.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Whittier Trust Co. boosted its stake in First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after purchasing an additional 507 shares during the period. Versant Capital Management Inc raised its position in First Hawaiian by 55.7% during the second quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after buying an additional 678 shares during the period. Blue Trust Inc. lifted its stake in First Hawaiian by 51.5% in the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after acquiring an additional 625 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in First Hawaiian by 48.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock worth $44,000 after acquiring an additional 652 shares during the period. Finally, GAMMA Investing LLC grew its stake in First Hawaiian by 50.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,122 shares of the bank’s stock valued at $44,000 after acquiring an additional 710 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on FHB shares. Wells Fargo & Company upped their price target on shares of First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a research report on Monday, October 28th. Barclays lifted their price target on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods increased their price objective on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. 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 note on Monday, July 29th. Finally, JPMorgan Chase & Co. decreased their price target on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, First Hawaiian currently has an average rating of “Reduce” and an average target price of $24.33.

First Hawaiian Price Performance

Shares of NASDAQ:FHB traded down $0.29 on Monday, reaching $26.91. 488,014 shares of the company traded hands, compared to its average volume of 648,722. The company’s 50 day moving average is $24.24 and its 200-day moving average is $22.92. The stock has a market capitalization of $3.44 billion, a PE ratio of 15.54 and a beta of 0.96. First Hawaiian has a fifty-two week low of $18.77 and a fifty-two week high of $28.38.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s payout ratio is 59.43%.

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.