Short Interest in First Hawaiian, Inc. (NASDAQ:FHB) Expands By 12.3%

First Hawaiian, Inc. (NASDAQ:FHB) was the target of a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 4,560,000 shares, an increase of 12.3% from the October 31st total of 4,060,000 shares. Based on an average daily trading volume, of 594,700 shares, the short-interest ratio is currently 7.7 days. Currently, 3.6% of the shares of the company are sold short.

First Hawaiian Price Performance

FHB stock traded down $0.34 during mid-day trading on Tuesday, reaching $27.06. 588,622 shares of the company’s stock were exchanged, compared to its average volume of 652,556. First Hawaiian has a 12-month low of $19.48 and a 12-month high of $28.80. The stock’s 50 day moving average is $25.22 and its 200 day moving average is $23.37. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 15.46 and a beta of 0.98.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend was Monday, November 18th. First Hawaiian’s payout ratio is presently 59.43%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FHB shares. The Goldman Sachs Group increased their price objective on First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a report on Tuesday, November 26th. JPMorgan Chase & Co. reduced their price target on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Wednesday, October 9th. Stephens initiated coverage on shares of First Hawaiian in a research note on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price objective for the company. Finally, Wells Fargo & Company increased their price objective on shares of First Hawaiian from $21.00 to $22.00 and gave the stock an “underweight” rating in a research note on Tuesday. Four analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, First Hawaiian currently has an average rating of “Hold” and a consensus target price of $25.57.

Hedge Funds Weigh In On First Hawaiian

A number of large investors have recently added to or reduced their stakes in FHB. The Manufacturers Life Insurance Company increased its stake in shares of First Hawaiian by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after purchasing an additional 942,634 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of First Hawaiian by 958.2% during the second quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock valued at $9,043,000 after acquiring an additional 397,897 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 valued at $108,057,000 after acquiring an additional 370,722 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in shares of First Hawaiian by 96.8% in the third quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank’s stock valued at $11,072,000 after acquiring an additional 235,253 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of First Hawaiian by 6.5% in the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after acquiring an additional 203,407 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

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.