First Hawaiian, Inc. (NASDAQ:FHB) Short Interest Down 10.8% in October

First Hawaiian, Inc. (NASDAQ:FHB) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,060,000 shares, a decrease of 10.8% from the October 15th total of 4,550,000 shares. Currently, 3.2% of the shares of the company are short sold. Based on an average daily trading volume, of 546,200 shares, the days-to-cover ratio is presently 7.4 days.

Analysts Set New Price Targets

FHB has been the topic of several research analyst reports. Wells Fargo & Company increased their price target on First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Monday, October 28th. The Goldman Sachs Group increased their price target on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a report on Monday, July 29th. Barclays upped their price objective on First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. reduced their price objective on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. Finally, Keefe, Bruyette & Woods upped their price objective on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $24.33.

Institutional Investors Weigh In On First Hawaiian

A number of institutional investors have recently bought and sold shares of the business. Whittier Trust Co. boosted its holdings in shares of First Hawaiian by 68.7% during the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after purchasing an additional 507 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of First Hawaiian by 55.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after purchasing an additional 678 shares during the last quarter. Blue Trust Inc. boosted its holdings 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 purchasing an additional 625 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of First Hawaiian by 48.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock valued at $44,000 after purchasing an additional 652 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of First Hawaiian by 50.3% during the 2nd quarter. GAMMA Investing LLC now owns 2,122 shares of the bank’s stock valued at $44,000 after purchasing an additional 710 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Down 0.1 %

FHB stock traded down $0.04 during trading on Friday, reaching $27.20. The company’s stock had a trading volume of 632,952 shares, compared to its average volume of 606,326. First Hawaiian has a 1 year low of $18.77 and a 1 year high of $28.38. The company has a market capitalization of $3.48 billion, a P/E ratio of 15.54 and a beta of 0.96. The company’s fifty day moving average is $24.24 and its 200-day moving average is $22.91.

First Hawaiian Dividend Announcement

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