Arrowstreet Capital Limited Partnership Reduces Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Arrowstreet Capital Limited Partnership trimmed its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 20.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,169,511 shares of the bank’s stock after selling 296,662 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.91% of First Hawaiian worth $30,349,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new stake in shares of First Hawaiian in the 4th quarter worth about $36,000. Quarry LP raised its position in First Hawaiian by 459.2% during the third quarter. Quarry LP now owns 2,483 shares of the bank’s stock worth $57,000 after acquiring an additional 2,039 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of First Hawaiian by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank’s stock valued at $71,000 after purchasing an additional 904 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of First Hawaiian by 32.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock valued at $74,000 after purchasing an additional 693 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of First Hawaiian by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank’s stock worth $94,000 after purchasing an additional 461 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on FHB. Piper Sandler increased their target price on First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their price objective on First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Barclays boosted their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group raised their price target on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of First Hawaiian from $28.00 to $31.00 and gave the company a “market perform” rating in a research report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $29.00.

First Hawaiian Price Performance

Shares of FHB stock opened at $24.68 on Thursday. The firm’s 50-day simple moving average is $26.10 and its 200-day simple moving average is $25.68. First Hawaiian, Inc. has a 1-year low of $19.48 and a 1-year high of $28.80. The firm has a market cap of $3.11 billion, a P/E ratio of 13.79, a PEG ratio of 3.28 and a beta of 0.77.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the prior year, the company earned $0.37 EPS. Analysts expect that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Friday, February 14th. First Hawaiian’s payout ratio is currently 58.10%.

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.