Victory Capital Management Inc. Sells 27,381 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Victory Capital Management Inc. lessened its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 5.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 503,423 shares of the bank’s stock after selling 27,381 shares during the period. Victory Capital Management Inc. owned 0.39% of First Hawaiian worth $11,654,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Whittier Trust Co. boosted its holdings in First Hawaiian by 68.7% in the second quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after acquiring an additional 507 shares during the last quarter. Blue Trust Inc. boosted its holdings in First Hawaiian by 51.5% in the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after acquiring an additional 625 shares during the last quarter. Versant Capital Management Inc boosted its holdings in First Hawaiian by 55.7% in the second quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock valued at $39,000 after acquiring an additional 678 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in First Hawaiian by 48.9% in the first quarter. Abich Financial Wealth Management LLC now owns 1,984 shares of the bank’s stock valued at $44,000 after acquiring an additional 652 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in First Hawaiian by 50.3% in the second quarter. GAMMA Investing LLC now owns 2,122 shares of the bank’s stock valued at $44,000 after acquiring an additional 710 shares during the last quarter. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FHB. JPMorgan Chase & Co. decreased their price target on First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price target on First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Wells Fargo & Company raised their price target on First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Piper Sandler increased their target price on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Barclays increased their target price on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Four analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $24.33.

First Hawaiian Price Performance

NASDAQ FHB opened at $26.99 on Thursday. The firm has a market cap of $3.45 billion, a P/E ratio of 15.34 and a beta of 0.96. The stock’s 50-day moving average is $24.39 and its 200-day moving average is $22.99. First Hawaiian, Inc. has a one year low of $18.77 and a one year high of $28.38.

First Hawaiian Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Monday, November 18th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s dividend payout ratio is currently 59.43%.

First Hawaiian Company 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.