Massachusetts Financial Services Co. MA Sells 9,529 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Massachusetts Financial Services Co. MA reduced its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 0.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,014,769 shares of the bank’s stock after selling 9,529 shares during the period. Massachusetts Financial Services Co. MA owned about 1.58% of First Hawaiian worth $52,283,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FHB. Cerity Partners LLC grew its position in First Hawaiian by 98.2% in the third quarter. Cerity Partners LLC now owns 26,836 shares of the bank’s stock valued at $621,000 after acquiring an additional 13,297 shares during the period. FMR LLC boosted its stake in shares of First Hawaiian by 20.3% in the 3rd quarter. FMR LLC now owns 913,400 shares of the bank’s stock valued at $21,145,000 after purchasing an additional 154,136 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of First Hawaiian by 78.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 26,352 shares of the bank’s stock worth $610,000 after purchasing an additional 11,604 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of First Hawaiian by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 331,087 shares of the bank’s stock worth $7,665,000 after purchasing an additional 3,682 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in First Hawaiian during the 3rd quarter valued at about $284,000. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

FHB has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group increased their price target on First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research report on Monday, February 3rd. Piper Sandler lifted their price objective on First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods increased their target price on First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their price target on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat.com, First Hawaiian currently has an average rating of “Hold” and an average price target of $29.00.

First Hawaiian Stock Down 4.4 %

FHB stock opened at $21.66 on Friday. First Hawaiian, Inc. has a twelve month low of $19.48 and a twelve month high of $28.80. The company has a market cap of $2.73 billion, a P/E ratio of 12.10, a PEG ratio of 3.28 and a beta of 0.77. The business has a fifty day moving average of $25.93 and a 200-day moving average of $25.66.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same quarter in the previous year, the company posted $0.37 earnings per share. As a group, equities research analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 4.80%. First Hawaiian’s dividend payout ratio is currently 58.10%.

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.