Massachusetts Financial Services Co. MA Buys 139,291 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Massachusetts Financial Services Co. MA lifted its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 7.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,081,270 shares of the bank’s stock after purchasing an additional 139,291 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.63% of First Hawaiian worth $43,207,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Whittier Trust Co. increased its position in shares of First Hawaiian by 68.7% during the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after buying an additional 507 shares during the period. Versant Capital Management Inc increased its holdings in First Hawaiian by 55.7% during the 2nd quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock worth $39,000 after acquiring an additional 678 shares during the period. TFO Wealth Partners LLC lifted its stake in First Hawaiian by 35,620.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,786 shares of the bank’s stock worth $41,000 after purchasing an additional 1,781 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in First Hawaiian in the 1st quarter valued at $42,000. Finally, Abich Financial Wealth Management LLC grew its position in shares of First Hawaiian by 48.9% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock valued at $44,000 after purchasing an additional 652 shares in 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 opened at $24.20 on Friday. The stock has a market capitalization of $3.09 billion, a P/E ratio of 13.91 and a beta of 0.98. First Hawaiian, Inc. has a one year low of $17.18 and a one year high of $26.18. The firm’s 50 day simple moving average is $23.81 and its two-hundred day simple moving average is $22.01.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, July 26th. The bank reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. First Hawaiian had a net margin of 18.83% and a return on equity of 8.96%. The company had revenue of $204.62 million for the quarter, compared to analysts’ expectations of $202.94 million. As a group, equities analysts expect that First Hawaiian, Inc. will post 1.79 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date was Monday, August 19th. First Hawaiian’s dividend payout ratio (DPR) is presently 59.77%.

Wall Street Analysts Forecast Growth

FHB has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on First Hawaiian from $18.00 to $22.00 and gave the stock an “underweight” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods boosted their price objective on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. JPMorgan Chase & Co. cut shares of First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price objective on the stock. in a research report on Monday, July 29th. The Goldman Sachs Group boosted their price target on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research note on Monday, July 29th. Finally, Barclays raised their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus target price of $24.67.

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.