Man Group plc Sells 75,822 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Man Group plc cut its holdings in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 76.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,912 shares of the bank's stock after selling 75,822 shares during the period. Man Group plc's holdings in First Hawaiian were worth $621,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of First Hawaiian by 3.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,664,425 shares of the bank's stock worth $146,992,000 after buying an additional 186,993 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of First Hawaiian by 19.7% during the fourth quarter. Alliancebernstein L.P. now owns 5,244,211 shares of the bank's stock worth $136,087,000 after acquiring an additional 864,420 shares in the last quarter. Northern Trust Corp lifted its position in shares of First Hawaiian by 10.7% during the fourth quarter. Northern Trust Corp now owns 2,188,005 shares of the bank's stock worth $56,779,000 after acquiring an additional 211,399 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of First Hawaiian by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,670,929 shares of the bank's stock worth $43,361,000 after acquiring an additional 9,775 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of First Hawaiian during the fourth quarter worth $36,266,000. 97.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their target price on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 9th. Keefe, Bruyette & Woods decreased their price target on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. decreased their price target on shares of First Hawaiian from $26.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. Barclays decreased 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 report on Tuesday, April 8th. Finally, Piper Sandler upped their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a "neutral" 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 company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $27.29.

First Hawaiian Stock Performance

FHB traded up $0.50 during trading on Tuesday, reaching $23.92. The stock had a trading volume of 446,724 shares, compared to its average volume of 734,231. The stock has a market cap of $3.01 billion, a PE ratio of 13.36, a PEG ratio of 3.28 and a beta of 0.82. First Hawaiian, Inc. has a one year low of $19.48 and a one year high of $28.80. The business has a 50-day moving average of $23.31 and a 200-day moving average of $25.39.

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

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.04 dividend on an annualized basis and a yield of 4.35%. First Hawaiian's dividend payout ratio is presently 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.