First Hawaiian, Inc. $FHB Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 31.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 443,787 shares of the bank’s stock after selling 200,583 shares during the quarter. Granite Investment Partners LLC’s holdings in First Hawaiian were worth $11,019,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake in First Hawaiian by 74.9% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,023 shares of the bank’s stock worth $25,000 after buying an additional 438 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in First Hawaiian by 11,325.0% in the second quarter. Hantz Financial Services Inc. now owns 1,371 shares of the bank’s stock worth $34,000 after acquiring an additional 1,359 shares in the last quarter. Bayforest Capital Ltd purchased a new stake in shares of First Hawaiian during the third quarter worth about $64,000. Quent Capital LLC acquired a new position in shares of First Hawaiian during the third quarter valued at about $65,000. Finally, Blue Trust Inc. increased its holdings in shares of First Hawaiian by 36.3% during the third quarter. Blue Trust Inc. now owns 2,776 shares of the bank’s stock valued at $69,000 after acquiring an additional 740 shares in the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on FHB shares. TD Cowen reiterated a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. The Goldman Sachs Group set a $27.50 price target on shares of First Hawaiian and gave the stock a “sell” rating in a report on Tuesday, January 6th. Piper Sandler lowered their price objective on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, February 2nd. Barclays raised shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $26.00 to $28.00 in a report on Tuesday, November 11th. Finally, Keefe, Bruyette & Woods raised their target price on First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 28th. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $27.50.

Insider Activity

In other news, Director Craig Scott Wo sold 1,500 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Alan Arizumi sold 36,460 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $25.35, for a total value of $924,261.00. Following the completion of the sale, the insider owned 37,508 shares in the company, valued at $950,827.80. The trade was a 49.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 45,026 shares of company stock valued at $1,144,928. Insiders own 0.61% of the company’s stock.

First Hawaiian Trading Up 0.6%

Shares of NASDAQ FHB opened at $26.39 on Monday. The company has a 50 day simple moving average of $26.53 and a two-hundred day simple moving average of $25.45. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 12.00, a PEG ratio of 2.09 and a beta of 0.73. First Hawaiian, Inc. has a 12 month low of $20.32 and a 12 month high of $28.35.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $199.68 million during the quarter, compared to analysts’ expectations 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 last year, the company posted $0.41 earnings per share. Analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.9%. First Hawaiian’s dividend payout ratio (DPR) is presently 47.27%.

First Hawaiian 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.