Janus Henderson Group PLC trimmed its position in shares of First Hawaiian, Inc. (NASDAQ:FHB – Free Report) by 16.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 53,887 shares of the bank’s stock after selling 10,900 shares during the quarter. Janus Henderson Group PLC’s holdings in First Hawaiian were worth $1,248,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of FHB. Raymond James & Associates increased its position in First Hawaiian by 5.5% during the 2nd quarter. Raymond James & Associates now owns 1,079,969 shares of the bank’s stock valued at $22,420,000 after purchasing an additional 56,445 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of First Hawaiian by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after purchasing an additional 942,634 shares in the last quarter. American Century Companies Inc. increased its position in shares of First Hawaiian by 6.5% during the second quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock valued at $69,321,000 after buying an additional 203,407 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in First Hawaiian by 100.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the bank’s stock worth $80,000 after buying an additional 1,943 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in First Hawaiian in the third quarter worth about $3,736,000. 97.63% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on FHB shares. The Goldman Sachs Group upped their target price on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday, November 26th. Keefe, Bruyette & Woods upped their price target on First Hawaiian from $25.00 to $28.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Barclays raised their price objective on First Hawaiian from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Wells Fargo & Company upped their target price on shares of First Hawaiian from $21.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. 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 target for the company. Four investment analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.14.
First Hawaiian Stock Performance
Shares of FHB stock opened at $27.06 on Friday. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 15.46 and a beta of 0.98. First Hawaiian, Inc. has a one year low of $19.48 and a one year high of $28.80. The company’s 50-day moving average is $25.86 and its 200 day moving average is $23.65.
First Hawaiian Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was 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.
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