Massachusetts Financial Services Co. MA Has $48.08 Million Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Massachusetts Financial Services Co. MA lowered its stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 2.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,967,095 shares of the bank's stock after selling 47,674 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.56% of First Hawaiian worth $48,076,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Versant Capital Management Inc increased its holdings in shares of First Hawaiian by 65.1% during the 1st quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock worth $76,000 after buying an additional 1,233 shares during the last quarter. Parallel Advisors LLC boosted its position in First Hawaiian by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock valued at $109,000 after buying an additional 920 shares during the last quarter. GAMMA Investing LLC boosted its position in First Hawaiian by 36.4% in the 1st quarter. GAMMA Investing LLC now owns 4,943 shares of the bank's stock valued at $121,000 after buying an additional 1,319 shares during the last quarter. Zions Bancorporation N.A. purchased a new position in First Hawaiian in the 4th quarter valued at about $171,000. Finally, Covestor Ltd boosted its position in First Hawaiian by 8.1% in the 4th quarter. Covestor Ltd now owns 7,226 shares of the bank's stock valued at $188,000 after buying an additional 539 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company's stock.

First Hawaiian Stock Down 0.4%

NASDAQ FHB traded down $0.09 during midday trading on Monday, hitting $25.45. The company had a trading volume of 532,146 shares, compared to its average volume of 762,961. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 13.88, a P/E/G ratio of 6.49 and a beta of 0.83. The firm has a fifty day simple moving average of $24.52 and a two-hundred day simple moving average of $24.79. First Hawaiian, Inc. has a fifty-two week low of $20.32 and a fifty-two week high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. The business had revenue of $211.00 million for the quarter, compared to analyst estimates of $210.24 million. First Hawaiian had a net margin of 20.36% and a return on equity of 8.99%. The firm's revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 EPS. As a group, equities analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Monday, May 19th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Monday, May 19th. First Hawaiian's dividend payout ratio is presently 56.52%.

Analysts Set New Price Targets

Several equities analysts have recently commented on FHB shares. Wells Fargo & Company increased their price target on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research report on Thursday, July 10th. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods dropped their price objective on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $27.64.

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.