Massachusetts Financial Services Co. MA Has $44.18 Million Stock Position in First Hawaiian, Inc. $FHB

Massachusetts Financial Services Co. MA trimmed its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 3.5% during the fourth quarter, Holdings Channel reports. The firm owned 1,746,202 shares of the bank’s stock after selling 62,715 shares during the period. Massachusetts Financial Services Co. MA’s holdings in First Hawaiian were worth $44,179,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in First Hawaiian by 1.6% during the third quarter. Dimensional Fund Advisors LP now owns 6,158,776 shares of the bank’s stock valued at $152,923,000 after purchasing an additional 97,803 shares in the last quarter. State Street Corp boosted its holdings in First Hawaiian by 1.3% during the second quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock valued at $146,845,000 after purchasing an additional 77,478 shares in the last quarter. American Century Companies Inc. boosted its holdings in First Hawaiian by 131.9% during the third quarter. American Century Companies Inc. now owns 2,891,661 shares of the bank’s stock valued at $71,800,000 after purchasing an additional 1,644,752 shares in the last quarter. Reinhart Partners LLC. boosted its holdings in First Hawaiian by 0.7% during the third quarter. Reinhart Partners LLC. now owns 2,360,541 shares of the bank’s stock valued at $58,613,000 after purchasing an additional 17,241 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in First Hawaiian by 230.8% during the third quarter. AQR Capital Management LLC now owns 2,206,361 shares of the bank’s stock valued at $54,784,000 after purchasing an additional 1,539,415 shares in the last quarter. 97.63% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FHB shares. TD Cowen restated a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. Weiss Ratings raised First Hawaiian from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Piper Sandler reduced their price target on shares of First Hawaiian from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. The Goldman Sachs Group set a $27.50 price objective on First Hawaiian and gave the stock a “sell” rating in a report on Tuesday, January 6th. Finally, Zacks Research downgraded First Hawaiian from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 25th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $26.93.

Insiders Place Their Bets

In other First Hawaiian news, Director Craig Scott Wo sold 1,500 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

First Hawaiian Price Performance

Shares of NASDAQ:FHB opened at $26.46 on Wednesday. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 12.03, a P/E/G ratio of 2.78 and a beta of 0.71. The firm’s 50 day simple moving average is $25.32 and its 200 day simple moving average is $25.35. First Hawaiian, Inc. has a fifty-two week low of $21.75 and a fifty-two week high of $28.35.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, January 30th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. The firm had revenue of $225.85 million during the quarter, compared to the consensus estimate of $225.33 million. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. During the same quarter in the prior year, the firm earned $0.41 earnings per share. Equities research analysts expect that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a $0.26 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.04 annualized dividend and a yield of 3.9%. First Hawaiian’s dividend payout ratio (DPR) is 47.27%.

First Hawaiian Company Profile

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.