Massachusetts Financial Services Co. MA Has $44.18 Million Stock Holdings in First Hawaiian, Inc. $FHB

Key Points

• Massachusetts Financial Services Co. trimmed its stake in First Hawaiian by 3.5% to 1,746,202 shares (valued at $44.18 million), representing 1.41% of the company; institutional investors overall own 97.63% of the stock.
• First Hawaiian beat quarterly expectations with EPS of $0.56 vs. $0.55 and revenue roughly in line at $225.85 million, and it pays a quarterly dividend of $0.26 (annualized $1.04) for a yield of 3.9% and a payout ratio of 47.27%.
• Analysts are mixed: the consensus rating is "Reduce" with a $26.93 price target, amid recent moves including a Weiss upgrade to buy and JPMorgan cutting its price objective to $25.

Massachusetts Financial Services Co. MA lessened its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,746,202 shares of the bank's stock after selling 62,715 shares during the period. Massachusetts Financial Services Co. MA owned 1.41% of First Hawaiian worth $44,179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FHB. Dimensional Fund Advisors LP grew its position in shares of First Hawaiian by 1.6% in the third quarter. Dimensional Fund Advisors LP now owns 6,158,776 shares of the bank's stock valued at $152,923,000 after purchasing an additional 97,803 shares during the last quarter. State Street Corp grew its position in shares of First Hawaiian by 1.3% in the second quarter. State Street Corp now owns 5,883,194 shares of the bank's stock valued at $146,845,000 after purchasing an additional 77,478 shares during the last quarter. American Century Companies Inc. grew its position in shares of First Hawaiian by 131.9% in the third quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank's stock valued at $71,800,000 after purchasing an additional 1,644,752 shares during the last quarter. Reinhart Partners LLC. grew its position in shares of First Hawaiian by 0.7% in the third quarter. Reinhart Partners LLC. now owns 2,360,541 shares of the bank's stock valued at $58,613,000 after purchasing an additional 17,241 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in shares of First Hawaiian by 230.8% in the third quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank's stock valued at $54,784,000 after purchasing an additional 1,539,415 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company's stock.

Insiders Place Their Bets

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of First Hawaiian stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

First Hawaiian Stock Down 0.4%

FHB stock opened at $26.46 on Wednesday. First Hawaiian, Inc. has a twelve month low of $21.75 and a twelve month high of $28.35. The company has a market cap of $3.25 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 2.78 and a beta of 0.71. The business's 50-day simple moving average is $25.32 and its 200 day simple moving average is $25.35.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.55 by $0.01. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.The business had revenue of $225.85 million for the quarter, compared to the consensus estimate of $225.33 million. During the same period last year, the business earned $0.41 earnings per share. On average, equities research analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 3.9%. First Hawaiian's payout ratio is currently 47.27%.

Analyst Ratings Changes

FHB has been the topic of several research analyst reports. Weiss Ratings raised First Hawaiian from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 9th. JPMorgan Chase & Co. lowered their price objective on shares of First Hawaiian from $29.00 to $25.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 1st. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $24.00 to $26.00 and gave the stock an "underweight" rating in a research note on Monday, March 30th. Zacks Research downgraded shares of First Hawaiian from a "strong-buy" rating to a "hold" rating in a research note on Thursday, December 25th. Finally, Piper Sandler lowered their price objective on shares of First Hawaiian from $27.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, April 2nd. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, First Hawaiian currently has a consensus rating of "Reduce" and a consensus price target of $26.93.

First Hawaiian Company Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.

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