Brandywine Global Investment Management LLC Reduces Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

Brandywine Global Investment Management LLC trimmed its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,200 shares of the bank’s stock after selling 4,234 shares during the period. Brandywine Global Investment Management LLC’s holdings in First Hawaiian were worth $3,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Pictet Asset Management Holding SA boosted its holdings in shares of First Hawaiian by 13.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 16,857 shares of the bank’s stock valued at $437,000 after buying an additional 1,969 shares in the last quarter. New Age Alpha Advisors LLC acquired a new position in First Hawaiian in the fourth quarter valued at $626,000. Norges Bank acquired a new position in First Hawaiian in the fourth quarter valued at $36,266,000. Zions Bancorporation N.A. purchased a new position in shares of First Hawaiian during the fourth quarter worth about $171,000. Finally, LPL Financial LLC increased its position in shares of First Hawaiian by 22.8% during the fourth quarter. LPL Financial LLC now owns 171,687 shares of the bank’s stock worth $4,455,000 after purchasing an additional 31,904 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

First Hawaiian Stock Performance

Shares of First Hawaiian stock opened at $24.68 on Thursday. First Hawaiian, Inc. has a one year low of $19.48 and a one year high of $28.80. The company has a market cap of $3.11 billion, a P/E ratio of 13.79, a PEG ratio of 3.28 and a beta of 0.77. The firm has a fifty day moving average of $26.10 and a two-hundred day moving average of $25.68.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the company earned $0.37 earnings per share. As a group, equities analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Friday, February 14th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date was Friday, February 14th. First Hawaiian’s dividend payout ratio is presently 58.10%.

Analyst Ratings Changes

A number of brokerages recently issued reports on FHB. The Goldman Sachs Group upped their target price on First Hawaiian from $26.00 to $29.00 and gave the company a “sell” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price objective on First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a report on Monday, February 3rd. Barclays lifted their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of First Hawaiian from $27.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of First Hawaiian from $28.00 to $31.00 and gave the company a “market perform” 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. According to data from MarketBeat.com, First Hawaiian has an average rating of “Hold” and an average price target of $29.00.

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.