First Hawaiian, Inc. (NASDAQ:FHB) Shares Sold by Man Group plc

Man Group plc lessened its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 76.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,912 shares of the bank's stock after selling 75,822 shares during the quarter. Man Group plc's holdings in First Hawaiian were worth $621,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of First Hawaiian in the 4th quarter valued at approximately $36,266,000. Raymond James Financial Inc. bought a new position in First Hawaiian in the fourth quarter worth $32,086,000. Alliancebernstein L.P. lifted its position in First Hawaiian by 19.7% during the fourth quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank's stock valued at $136,087,000 after buying an additional 864,420 shares during the period. Balyasny Asset Management L.P. boosted its holdings in shares of First Hawaiian by 427.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 617,717 shares of the bank's stock valued at $16,030,000 after buying an additional 500,535 shares in the last quarter. Finally, First Trust Advisors LP grew 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 buying an additional 268,191 shares during the period. Hedge funds and other institutional investors own 97.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price target 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. JPMorgan Chase & Co. reduced their price target on First Hawaiian from $26.00 to $25.00 and set an "underweight" rating for the company in a report on Thursday, April 24th. Barclays dropped their price target on shares of First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 8th. Piper Sandler raised their price objective on shares of First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group lifted their target price on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.29.

First Hawaiian Stock Performance

Shares of FHB stock traded down $0.00 during trading hours on Friday, reaching $23.87. The company had a trading volume of 141,146 shares, compared to its average volume of 731,304. The business has a fifty day moving average price of $23.27 and a 200-day moving average price of $25.35. First Hawaiian, Inc. has a one year low of $19.48 and a one year high of $28.80. The firm has a market cap of $3.00 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, topping 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 firm's revenue was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Equities research analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current 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 issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Monday, May 19th. First Hawaiian's dividend payout ratio is 56.52%.

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.