Franklin Resources Inc. Trims Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

Franklin Resources Inc. reduced its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,371 shares of the bank’s stock after selling 2,922 shares during the period. Franklin Resources Inc.’s holdings in First Hawaiian were worth $883,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FHB. Blue Trust Inc. lifted its position in shares of First Hawaiian by 51.5% during the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after buying an additional 625 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in First Hawaiian during the third quarter valued at about $51,000. Quarry LP lifted its position in shares of First Hawaiian by 459.2% in the third quarter. Quarry LP now owns 2,483 shares of the bank’s stock valued at $57,000 after acquiring an additional 2,039 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of First Hawaiian by 32.5% in the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock worth $55,000 after acquiring an additional 644 shares during the period. Finally, GAMMA Investing LLC boosted its stake in First Hawaiian by 49.1% in the 3rd quarter. GAMMA Investing LLC now owns 3,163 shares of the bank’s stock worth $73,000 after purchasing an additional 1,041 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FHB. JPMorgan Chase & Co. upped their target price on shares of First Hawaiian from $25.00 to $27.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods upped their price target on shares of First Hawaiian from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. 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 target price on the stock. Barclays boosted their price objective on First Hawaiian from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group lifted 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. Four research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, First Hawaiian currently has an average rating of “Hold” and an average price target of $26.86.

First Hawaiian Stock Performance

FHB opened at $25.95 on Monday. The stock’s 50 day moving average price is $26.42 and its 200-day moving average price is $24.16. First Hawaiian, Inc. has a one year low of $19.48 and a one year high of $28.80. The stock has a market cap of $3.32 billion, a price-to-earnings ratio of 14.83 and a beta of 0.98.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.26 per share. The ex-dividend date was Monday, November 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.01%. First Hawaiian’s dividend payout ratio (DPR) is 59.43%.

First Hawaiian Profile

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.