New York State Common Retirement Fund Sells 13,000 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

New York State Common Retirement Fund lowered its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 9.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,699 shares of the bank’s stock after selling 13,000 shares during the period. New York State Common Retirement Fund owned 0.10% of First Hawaiian worth $3,236,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FHB. Harbor Capital Advisors Inc. boosted its position in First Hawaiian by 96.8% in the third quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank’s stock valued at $11,072,000 after buying an additional 235,253 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in First Hawaiian in the third quarter valued at approximately $3,736,000. FMR LLC boosted its position in First Hawaiian by 20.3% in the third quarter. FMR LLC now owns 913,400 shares of the bank’s stock valued at $21,145,000 after buying an additional 154,136 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in First Hawaiian by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock valued at $245,963,000 after buying an additional 122,599 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in First Hawaiian by 91.4% in the third quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock valued at $4,077,000 after buying an additional 84,120 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on FHB. Wells Fargo & Company raised their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Stephens assumed coverage on shares of First Hawaiian in a report on Wednesday, November 27th. They set an “equal weight” rating and a $30.00 price target on the stock. Piper Sandler lifted their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods lifted their price target on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, The Goldman Sachs Group lifted their price target on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $29.00.

First Hawaiian Stock Up 0.8 %

FHB stock opened at $26.91 on Friday. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 3.28 and a beta of 0.99. First Hawaiian, Inc. has a 12-month low of $19.48 and a 12-month high of $28.80. The company’s fifty day simple moving average is $26.48 and its 200 day simple moving average is $25.45.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same period last year, the business earned $0.37 EPS. Research analysts expect that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a $0.26 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.86%. First Hawaiian’s payout ratio is 58.10%.

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.