Franklin Resources Inc. Sells 2,922 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Franklin Resources Inc. lowered its position in First Hawaiian, Inc. (NASDAQ:FHB) by 7.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 37,371 shares of the bank’s stock after selling 2,922 shares during the quarter. Franklin Resources Inc.’s holdings in First Hawaiian were worth $883,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FHB. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of First Hawaiian by 5.0% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,229 shares of the bank’s stock worth $237,000 after acquiring an additional 488 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in First Hawaiian by 5.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 11,296 shares of the bank’s stock valued at $262,000 after acquiring an additional 569 shares during the last quarter. Blue Trust Inc. raised its position in First Hawaiian by 51.5% in the 3rd quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock worth $43,000 after purchasing an additional 625 shares during the period. Abich Financial Wealth Management LLC lifted its stake in First Hawaiian by 32.5% in the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock worth $55,000 after purchasing an additional 644 shares during the last quarter. Finally, SkyView Investment Advisors LLC grew its position in First Hawaiian by 1.8% during the 2nd quarter. SkyView Investment Advisors LLC now owns 37,546 shares of the bank’s stock worth $779,000 after acquiring an additional 652 shares during the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Stock Down 1.1 %

Shares of NASDAQ FHB opened at $25.95 on Monday. First Hawaiian, Inc. has a twelve month low of $19.48 and a twelve month high of $28.80. The company has a 50 day moving average of $26.42 and a 200 day moving average of $24.16. The firm has a market cap of $3.32 billion, a P/E ratio of 14.83 and a beta of 0.98.

First Hawaiian Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Stephens started coverage on shares of First Hawaiian in a research report on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 price objective on the stock. The Goldman Sachs Group lifted their target price on shares of First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a research note on Tuesday, November 26th. Barclays lifted their price target on First Hawaiian from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods lifted their price target on shares of First Hawaiian from $25.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price target on First Hawaiian from $25.00 to $27.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, First Hawaiian currently has a consensus 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.