First Hawaiian, Inc. (NASDAQ:FHB) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 25.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 649,247 shares of the bank's stock after selling 220,634 shares during the period. Bank of America Corp DE owned about 0.51% of First Hawaiian worth $16,848,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FHB. Norges Bank purchased a new stake in First Hawaiian during the 4th quarter worth $36,266,000. Raymond James Financial Inc. bought a new stake in shares of First Hawaiian in the 4th quarter worth about $32,086,000. Alliancebernstein L.P. increased its position in shares of First Hawaiian by 19.7% in the 4th quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank's stock worth $136,087,000 after purchasing an additional 864,420 shares during the last quarter. First Trust Advisors LP increased its position in shares of First Hawaiian by 40.7% in the 4th quarter. First Trust Advisors LP now owns 927,586 shares of the bank's stock worth $24,071,000 after purchasing an additional 268,191 shares during the last quarter. Finally, ExodusPoint Capital Management LP increased its position in shares of First Hawaiian by 99.0% in the 4th quarter. ExodusPoint Capital Management LP now owns 500,733 shares of the bank's stock worth $12,994,000 after purchasing an additional 249,054 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Price Performance

Shares of NASDAQ:FHB traded down $0.18 during trading on Friday, reaching $23.42. 405,579 shares of the company's stock traded hands, compared to its average volume of 734,883. First Hawaiian, Inc. has a 12 month low of $19.48 and a 12 month high of $28.80. The company has a 50 day moving average of $23.33 and a 200-day moving average of $25.45. The stock has a market capitalization of $2.94 billion, a P/E ratio of 13.08, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.01. The business had revenue of $211.00 million during the quarter, compared to the consensus estimate of $210.24 million. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Equities research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Monday, May 19th. First Hawaiian's payout ratio is 56.52%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Piper Sandler boosted their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods dropped their target price on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company dropped their target price on shares of First Hawaiian from $24.00 to $22.00 and set an "underweight" rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group boosted their target price on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a research report on Monday, February 3rd. Finally, Barclays dropped their target price on shares of First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 8th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $27.29.

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.