Goldman Sachs Group Inc. Sells 90,340 Shares of First Hawaiian, Inc. $FHB

Goldman Sachs Group Inc. trimmed its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 21.9% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 322,565 shares of the bank’s stock after selling 90,340 shares during the quarter. Goldman Sachs Group Inc. owned about 0.26% of First Hawaiian worth $7,883,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its position in shares of First Hawaiian by 199.7% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank’s stock valued at $26,000 after acquiring an additional 705 shares during the period. Headlands Technologies LLC bought a new stake in shares of First Hawaiian during the 1st quarter valued at $44,000. Versant Capital Management Inc lifted its position in shares of First Hawaiian by 65.1% during the 1st quarter. Versant Capital Management Inc now owns 3,128 shares of the bank’s stock worth $76,000 after buying an additional 1,233 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of First Hawaiian by 26.0% during the 1st quarter. Parallel Advisors LLC now owns 4,462 shares of the bank’s stock worth $109,000 after buying an additional 920 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of First Hawaiian by 36.4% during the 1st quarter. GAMMA Investing LLC now owns 4,943 shares of the bank’s stock worth $121,000 after buying an additional 1,319 shares during the last quarter. 97.63% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on FHB. JPMorgan Chase & Co. upped their price objective on First Hawaiian from $25.00 to $25.50 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Barclays restated an “underweight” rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Wall Street Zen upgraded First Hawaiian from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Piper Sandler began coverage on First Hawaiian in a research report on Thursday, August 21st. They set a “neutral” rating and a $26.00 price objective for the company. Finally, Wells Fargo & Company upped their price objective on First Hawaiian from $22.00 to $24.00 and gave the stock an “underweight” rating in a research report on Thursday, July 10th. Three equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, First Hawaiian has an average rating of “Strong Sell” and an average target price of $27.07.

First Hawaiian Stock Down 0.6%

Shares of FHB opened at $25.57 on Friday. First Hawaiian, Inc. has a 12-month low of $20.32 and a 12-month high of $28.80. The business has a 50-day simple moving average of $25.22 and a two-hundred day simple moving average of $24.37. The stock has a market cap of $3.19 billion, a PE ratio of 13.18, a PEG ratio of 6.24 and a beta of 0.89.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, July 25th. The bank reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.09. The business had revenue of $217.54 million during the quarter, compared to analysts’ expectations of $214.67 million. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.During the same quarter in the prior year, the firm earned $0.48 EPS. On average, equities research analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.1%. First Hawaiian’s dividend payout ratio is presently 53.61%.

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.