Olstein Capital Management L.P. Sells 11,000 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Olstein Capital Management L.P. decreased its position in First Hawaiian, Inc. (NASDAQ:FHB) by 14.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 63,000 shares of the bank’s stock after selling 11,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in First Hawaiian were worth $1,635,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FHB. The Manufacturers Life Insurance Company lifted its stake in First Hawaiian by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock valued at $245,963,000 after buying an additional 122,599 shares during the period. Reinhart Partners LLC. raised its position in shares of First Hawaiian by 6.1% in the 3rd quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock valued at $56,980,000 after acquiring an additional 141,327 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in First Hawaiian by 0.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,661,154 shares of the bank’s stock worth $38,456,000 after acquiring an additional 11,543 shares during the last quarter. Raymond James & Associates grew its holdings in First Hawaiian by 6.7% during the third quarter. Raymond James & Associates now owns 1,152,785 shares of the bank’s stock valued at $26,687,000 after purchasing an additional 72,816 shares during the period. Finally, FMR LLC increased its stake in First Hawaiian by 20.3% in the third quarter. FMR LLC now owns 913,400 shares of the bank’s stock valued at $21,145,000 after purchasing an additional 154,136 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Wells Fargo & Company boosted their target price on First Hawaiian from $21.00 to $22.00 and gave the company an “underweight” rating in a research note on Tuesday, December 3rd. Barclays boosted their price objective on First Hawaiian from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. JPMorgan Chase & Co. increased their target price on First Hawaiian from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. The Goldman Sachs Group upped their price target on shares of First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a report on Tuesday, November 26th. Finally, Stephens initiated coverage on shares of First Hawaiian in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price objective for the company. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.86.

First Hawaiian Stock Performance

NASDAQ FHB opened at $26.36 on Friday. First Hawaiian, Inc. has a 52 week low of $19.48 and a 52 week high of $28.80. The stock’s 50 day moving average price is $26.44 and its two-hundred day moving average price is $24.86. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 15.06 and a beta of 0.99.

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.