Public Sector Pension Investment Board Sells 9,900 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Public Sector Pension Investment Board cut its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 3.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 271,332 shares of the bank’s stock after selling 9,900 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of First Hawaiian worth $6,281,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of First Hawaiian by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after buying an additional 942,634 shares during the last quarter. AQR Capital Management LLC boosted its position in First Hawaiian by 958.2% during the second quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock valued at $9,043,000 after purchasing an additional 397,897 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in First Hawaiian by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock valued at $108,057,000 after purchasing an additional 370,722 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of First Hawaiian by 96.8% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank’s stock worth $11,072,000 after purchasing an additional 235,253 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of First Hawaiian by 6.5% during 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 in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Performance

Shares of FHB opened at $27.61 on Friday. First Hawaiian, Inc. has a 52 week low of $19.43 and a 52 week high of $28.80. The firm’s 50-day simple moving average is $25.06 and its 200 day simple moving average is $23.29. The firm has a market cap of $3.53 billion, a P/E ratio of 15.78 and a beta of 0.96.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Monday, November 18th. First Hawaiian’s dividend payout ratio (DPR) is presently 59.43%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on FHB shares. Wells Fargo & Company raised their target price on shares of First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a research note on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 9th. Stephens started coverage on shares of First Hawaiian in a research note on Wednesday. They issued an “equal weight” rating and a $30.00 target price for the company. Finally, The Goldman Sachs Group boosted their price target on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat, First Hawaiian currently has an average rating of “Hold” and a consensus target price of $25.43.

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.