Corebridge Financial Inc. Sells 579 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Corebridge Financial Inc. reduced its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,394 shares of the bank’s stock after selling 579 shares during the quarter. Corebridge Financial Inc.’s holdings in First Hawaiian were worth $140,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp bought a new position in shares of First Hawaiian during the 4th quarter worth about $36,000. Blue Trust Inc. increased its stake in First Hawaiian by 49.2% during the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank’s stock valued at $71,000 after acquiring an additional 904 shares during the period. Global Retirement Partners LLC raised its holdings in First Hawaiian by 32.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock valued at $74,000 after acquiring an additional 693 shares in the last quarter. GAMMA Investing LLC raised its holdings in First Hawaiian by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank’s stock valued at $94,000 after acquiring an additional 461 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of First Hawaiian by 280.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank’s stock worth $103,000 after acquiring an additional 2,934 shares during the period. 97.63% of the stock is owned by institutional investors.

First Hawaiian Trading Up 1.5 %

Shares of First Hawaiian stock opened at $21.74 on Tuesday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 12.15, a P/E/G ratio of 3.28 and a beta of 0.77. The firm’s 50-day moving average price is $25.05 and its two-hundred day moving average price is $25.56. First Hawaiian, Inc. has a 1-year low of $19.48 and a 1-year high of $28.80.

First Hawaiian (NASDAQ:FHB) last released its quarterly earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same quarter last year, the firm posted $0.37 EPS. As a group, equities research analysts predict that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently declared 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 of this dividend was Friday, February 14th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.78%. First Hawaiian’s dividend payout ratio is 58.10%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company cut their target price on First Hawaiian from $24.00 to $22.00 and set an “underweight” rating for the company in a research note on Wednesday, April 9th. Barclays dropped their price objective on shares of First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. Piper Sandler lifted their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their target price on shares of First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group raised their price target on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $28.29.

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.