M&T Bank Corp Purchases 1,461 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

M&T Bank Corp raised its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 9.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 16,252 shares of the bank’s stock after purchasing an additional 1,461 shares during the period. M&T Bank Corp’s holdings in First Hawaiian were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in FHB. Raymond James & Associates increased its holdings in First Hawaiian by 5.5% in the second 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. Louisiana State Employees Retirement System raised its holdings in shares of First Hawaiian by 1.7% in the 2nd quarter. Louisiana State Employees Retirement System now owns 64,300 shares of the bank’s stock worth $1,335,000 after purchasing an additional 1,100 shares during the period. Whittier Trust Co. raised its stake in shares of First Hawaiian by 68.7% in the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after buying an additional 507 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First Hawaiian by 28.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 29,733 shares of the bank’s stock worth $617,000 after purchasing an additional 6,505 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of First Hawaiian in the 2nd quarter worth about $68,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Trading Down 5.7 %

FHB stock opened at $25.19 on Thursday. The company has a market capitalization of $3.22 billion, a P/E ratio of 14.39 and a beta of 0.98. The business has a 50 day simple moving average of $26.17 and a 200-day simple moving average of $23.84. First Hawaiian, Inc. has a twelve month low of $19.48 and a twelve month high of $28.80.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Monday, November 18th. First Hawaiian’s dividend payout ratio is currently 59.43%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on FHB shares. The Goldman Sachs Group boosted their price objective on shares of First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday, November 26th. Barclays raised their price target on First Hawaiian from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods lifted their price target on First Hawaiian from $25.00 to $28.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens began coverage on First Hawaiian in a research report on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on First Hawaiian from $21.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $26.71.

First Hawaiian Company 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.