Principal Financial Group Inc. Has $13.94 Million Position in First Hawaiian, Inc. (NASDAQ:FHB)

Principal Financial Group Inc. cut its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 602,199 shares of the bank’s stock after selling 25,519 shares during the quarter. Principal Financial Group Inc. owned about 0.47% of First Hawaiian worth $13,941,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Whittier Trust Co. grew its holdings in shares of First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock valued at $26,000 after acquiring an additional 507 shares in the last quarter. Blue Trust Inc. increased its position in First Hawaiian by 51.5% during the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after buying an additional 625 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new position in First Hawaiian during the third quarter worth about $51,000. Abich Financial Wealth Management LLC boosted its stake in shares of First Hawaiian by 32.5% in the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock valued at $55,000 after buying an additional 644 shares during the period. Finally, Quarry LP grew its holdings in shares of First Hawaiian by 459.2% during the 3rd quarter. Quarry LP now owns 2,483 shares of the bank’s stock worth $57,000 after purchasing an additional 2,039 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Performance

FHB stock opened at $25.95 on Friday. The company has a market capitalization of $3.32 billion, a P/E ratio of 14.83 and a beta of 0.98. The business has a 50-day simple moving average of $26.42 and a two-hundred day simple moving average of $24.13. First Hawaiian, Inc. has a 52-week low of $19.48 and a 52-week high of $28.80.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Monday, November 18th were issued a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.01%. First Hawaiian’s dividend payout ratio (DPR) is presently 59.43%.

Analyst Ratings Changes

A number of research firms have recently commented on FHB. Stephens initiated coverage on First Hawaiian in a report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price target for the company. Barclays lifted their price objective on First Hawaiian from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods boosted their price objective on First Hawaiian from $25.00 to $28.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on shares of First Hawaiian from $25.00 to $27.00 and gave the stock an “underweight” rating in a report on Tuesday, December 17th. Finally, The Goldman Sachs Group increased their price target on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday, November 26th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, First Hawaiian currently has an average rating of “Hold” and a consensus target price of $26.86.

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.