First Hawaiian, Inc. $FHB Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lessened its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 43.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,174 shares of the bank’s stock after selling 18,975 shares during the quarter. Maryland State Retirement & Pension System’s holdings in First Hawaiian were worth $625,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in shares of First Hawaiian by 74.9% in the third quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock valued at $25,000 after purchasing an additional 438 shares during the period. Hantz Financial Services Inc. lifted its stake in First Hawaiian by 11,325.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock valued at $34,000 after buying an additional 1,359 shares in the last quarter. Bayforest Capital Ltd acquired a new stake in First Hawaiian in the 3rd quarter worth about $64,000. Quent Capital LLC purchased a new stake in First Hawaiian during the 3rd quarter worth approximately $65,000. Finally, Blue Trust Inc. increased its stake in First Hawaiian by 36.3% during the 3rd quarter. Blue Trust Inc. now owns 2,776 shares of the bank’s stock worth $69,000 after buying an additional 740 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other First Hawaiian news, insider Alan Arizumi sold 36,460 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $25.35, for a total value of $924,261.00. Following the transaction, the insider directly owned 37,508 shares in the company, valued at $950,827.80. The trade was a 49.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.61% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on FHB. JPMorgan Chase & Co. raised their target price on First Hawaiian from $27.00 to $29.00 and gave the company an “underweight” rating in a research report on Tuesday, December 16th. Weiss Ratings restated a “hold (c+)” rating on shares of First Hawaiian in a report on Monday, December 29th. Keefe, Bruyette & Woods upped their target price on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a report on Tuesday, October 28th. The Goldman Sachs Group set a $27.50 target price on shares of First Hawaiian and gave the company a “sell” rating in a research report on Tuesday, January 6th. Finally, Piper Sandler raised their price target on shares of First Hawaiian from $27.00 to $28.00 and gave the stock a “neutral” rating in a research note on Monday, October 27th. Six equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, First Hawaiian presently has a consensus rating of “Reduce” and a consensus price target of $27.64.

First Hawaiian Stock Up 0.8%

Shares of FHB opened at $27.93 on Friday. First Hawaiian, Inc. has a 52-week low of $20.32 and a 52-week high of $28.35. The stock has a fifty day simple moving average of $25.78 and a two-hundred day simple moving average of $25.22. The company has a market capitalization of $3.46 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last announced its quarterly earnings data on Friday, October 24th. The bank reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.07. First Hawaiian had a net margin of 22.60% and a return on equity of 9.68%. The firm had revenue of $226.39 million during the quarter, compared to analyst estimates of $218.22 million. During the same quarter in the prior year, the firm posted $0.48 earnings per share. As a group, equities analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

About First Hawaiian

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.