Sei Investments Co. Lowers Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Sei Investments Co. reduced its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,494 shares of the bank’s stock after selling 38,795 shares during the quarter. Sei Investments Co.’s holdings in First Hawaiian were worth $12,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of FHB. Raymond James Financial Inc. purchased a new position in First Hawaiian during the fourth quarter valued at $32,086,000. FMR LLC grew its position in shares of First Hawaiian by 20.3% during the third quarter. FMR LLC now owns 913,400 shares of the bank’s stock valued at $21,145,000 after purchasing an additional 154,136 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of First Hawaiian by 91.4% in the third quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock worth $4,077,000 after purchasing an additional 84,120 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of First Hawaiian in the third quarter worth about $1,641,000. Finally, Wealthfront Advisers LLC bought a new position in First Hawaiian during the fourth quarter valued at approximately $1,507,000. Institutional investors own 97.63% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on FHB shares. The Goldman Sachs Group lifted their price objective on First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a research note on Monday, February 3rd. Barclays boosted their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Wells Fargo & Company increased their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the company an “underweight” rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods boosted their target price on shares of First Hawaiian from $28.00 to $31.00 and gave the stock a “market perform” rating in a report on Monday, February 3rd. Finally, Piper Sandler increased their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.00.

First Hawaiian Price Performance

First Hawaiian stock opened at $24.29 on Friday. First Hawaiian, Inc. has a 1-year low of $19.48 and a 1-year high of $28.80. The company’s 50-day moving average is $26.21 and its 200 day moving average is $25.63. The firm has a market capitalization of $3.07 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 3.28 and a beta of 0.94.

First Hawaiian (NASDAQ:FHB) last issued its quarterly earnings results on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company 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 business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend was Friday, February 14th. First Hawaiian’s payout ratio is presently 58.10%.

First Hawaiian Company 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.