Invesco Ltd. Sells 81,513 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Invesco Ltd. lowered its position in First Hawaiian, Inc. (NASDAQ:FHB) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 633,567 shares of the bank’s stock after selling 81,513 shares during the quarter. Invesco Ltd. owned 0.50% of First Hawaiian worth $16,441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of Montreal Can lifted its position in shares of First Hawaiian by 11.9% during the 4th quarter. Bank of Montreal Can now owns 20,028 shares of the bank’s stock worth $520,000 after buying an additional 2,126 shares during the period. Cerity Partners LLC grew its holdings in shares of First Hawaiian by 30.7% in the 4th quarter. Cerity Partners LLC now owns 35,080 shares of the bank’s stock worth $858,000 after purchasing an additional 8,244 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of First Hawaiian by 28.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 207,563 shares of the bank’s stock worth $5,386,000 after purchasing an additional 46,374 shares in the last quarter. ExodusPoint Capital Management LP grew its stake in First Hawaiian by 99.0% during the fourth quarter. ExodusPoint Capital Management LP now owns 500,733 shares of the bank’s stock worth $12,994,000 after buying an additional 249,054 shares during the last quarter. Finally, Trexquant Investment LP increased its holdings in shares of First Hawaiian by 186.5% during the fourth quarter. Trexquant Investment LP now owns 79,822 shares of the bank’s stock worth $2,071,000 after buying an additional 51,957 shares in the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Up 1.8 %

FHB stock opened at $22.64 on Monday. First Hawaiian, Inc. has a twelve month low of $19.48 and a twelve month high of $28.80. The business’s fifty day moving average is $24.63 and its 200-day moving average is $25.56. The company has a market cap of $2.86 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings results on Friday, January 31st. The bank reported $0.41 EPS for the quarter, beating 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 period in the previous year, the firm posted $0.37 earnings per share. Research analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend was Friday, February 14th. First Hawaiian’s dividend payout ratio is currently 58.10%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on FHB shares. The Goldman Sachs Group raised their target price on First Hawaiian from $26.00 to $29.00 and gave the company a “sell” rating in a research note on Monday, February 3rd. Piper Sandler raised their price objective 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. Keefe, Bruyette & Woods upped their target price on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a research report on Monday, February 3rd. Barclays lowered their price target on shares of First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating for the company in a report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. upped their price objective on First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $28.29.

First Hawaiian 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.