Prudential Financial Inc. Reduces Stock Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Prudential Financial Inc. lessened its holdings in First Hawaiian, Inc. (NASDAQ:FHB) by 1.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 127,922 shares of the bank’s stock after selling 1,750 shares during the period. Prudential Financial Inc. owned about 0.10% of First Hawaiian worth $3,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in First Hawaiian by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,670,929 shares of the bank’s stock worth $43,361,000 after buying an additional 9,775 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of First Hawaiian during the 4th quarter valued at approximately $32,086,000. FMR LLC increased its holdings in First Hawaiian by 20.3% in the 3rd quarter. FMR LLC now owns 913,400 shares of the bank’s stock worth $21,145,000 after acquiring an additional 154,136 shares in the last quarter. Wellington Management Group LLP raised its stake in First Hawaiian by 1.2% during the 3rd quarter. Wellington Management Group LLP now owns 686,701 shares of the bank’s stock worth $15,897,000 after acquiring an additional 7,926 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in First Hawaiian by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 619,714 shares of the bank’s stock valued at $16,082,000 after purchasing an additional 17,515 shares in the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Price Performance

NASDAQ:FHB opened at $24.68 on Thursday. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 3.28 and a beta of 0.77. First Hawaiian, Inc. has a 1 year low of $19.48 and a 1 year high of $28.80. The stock’s 50 day simple moving average is $26.10 and its two-hundred day simple moving average is $25.68.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business earned $0.37 EPS. As a group, analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.26 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 4.21%. First Hawaiian’s dividend payout ratio is currently 58.10%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FHB shares. JPMorgan Chase & Co. raised their price objective on shares of First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Barclays raised their price target on First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods upped their price objective on First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research note on Monday, February 3rd. Wells Fargo & Company lifted their target price on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Finally, Piper Sandler upped their price target on First Hawaiian from $28.00 to $30.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $29.00.

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.