Principal Financial Group Inc. Reduces Stock Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Principal Financial Group Inc. lessened its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 4.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 602,199 shares of the bank’s stock after selling 25,519 shares during the quarter. Principal Financial Group Inc.’s holdings in First Hawaiian were worth $13,941,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FHB. Raymond James & Associates boosted its position in shares of First Hawaiian by 5.5% in 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 lifted its stake in First Hawaiian by 9.9% in the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after buying an additional 942,634 shares during the last quarter. American Century Companies Inc. boosted its holdings 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 valued at $69,321,000 after acquiring an additional 203,407 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in shares of First Hawaiian by 100.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,870 shares of the bank’s stock worth $80,000 after acquiring an additional 1,943 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of First Hawaiian during the second quarter worth approximately $462,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. The Goldman Sachs Group upped their target price on shares of First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lowered their price target on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. Barclays upped their price objective on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Piper Sandler lifted their target price on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, First Hawaiian currently has a consensus rating of “Reduce” and an average price target of $24.33.

First Hawaiian Stock Down 0.1 %

Shares of First Hawaiian stock opened at $27.20 on Friday. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of 15.54 and a beta of 0.96. First Hawaiian, Inc. has a 52-week low of $18.77 and a 52-week high of $28.38. The company’s 50-day simple moving average is $24.24 and its 200-day simple moving average is $22.90.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Monday, November 18th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s payout ratio 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.