JPMorgan Chase & Co. Sells 833,610 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

JPMorgan Chase & Co. reduced its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 19.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,452,923 shares of the bank’s stock after selling 833,610 shares during the quarter. JPMorgan Chase & Co. owned about 2.70% of First Hawaiian worth $79,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP lifted its position in First Hawaiian by 1.2% in the 3rd quarter. Wellington Management Group LLP now owns 686,701 shares of the bank’s stock worth $15,897,000 after buying an additional 7,926 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of First Hawaiian by 91.4% in the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock worth $4,077,000 after acquiring an additional 84,120 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of First Hawaiian by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after purchasing an additional 942,634 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of First Hawaiian during the 3rd quarter valued at $632,000. Finally, American Century Companies Inc. raised its position in First Hawaiian by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after purchasing an additional 203,407 shares during the period. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Trading Down 1.5 %

Shares of First Hawaiian stock opened at $25.57 on Friday. First Hawaiian, Inc. has a 12-month low of $19.48 and a 12-month high of $28.80. The company has a market cap of $3.27 billion, a P/E ratio of 14.61 and a beta of 0.98. The company’s fifty day simple moving average is $26.58 and its two-hundred day simple moving average is $24.27.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were issued a $0.26 dividend. The ex-dividend date was Monday, November 18th. This represents a $1.04 annualized dividend and a yield of 4.07%. First Hawaiian’s dividend payout ratio (DPR) is presently 59.43%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on FHB shares. Stephens began coverage on shares of First Hawaiian in a research report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price target for the company. Wells Fargo & Company raised their price target on First Hawaiian from $21.00 to $22.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 3rd. 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 report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on shares of First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of First Hawaiian from $25.00 to $27.00 and gave the company an “underweight” rating in a report 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 company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.86.

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.