Reinhart Partners LLC. Decreases Stake in First Hawaiian, Inc. (NASDAQ:FHB)

Reinhart Partners LLC. lowered its position in First Hawaiian, Inc. (NASDAQ:FHB) by 17.9% in the 4th quarter, HoldingsChannel reports. The fund owned 2,020,442 shares of the bank’s stock after selling 440,877 shares during the period. First Hawaiian accounts for about 2.0% of Reinhart Partners LLC.’s holdings, making the stock its 22nd biggest position. Reinhart Partners LLC.’s holdings in First Hawaiian were worth $52,430,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in First Hawaiian by 1.2% in the 3rd quarter. Wellington Management Group LLP now owns 686,701 shares of the bank’s stock worth $15,897,000 after buying an additional 7,926 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in First Hawaiian in the 3rd quarter worth approximately $632,000. Jane Street Group LLC lifted its position in First Hawaiian by 91.4% in the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank’s stock worth $4,077,000 after buying an additional 84,120 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in First Hawaiian by 9.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after buying an additional 942,634 shares during the last quarter. Finally, American Century Companies Inc. lifted its position in First Hawaiian by 6.5% in the 2nd quarter. American Century Companies Inc. now owns 3,339,180 shares of the bank’s stock worth $69,321,000 after buying an additional 203,407 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FHB. The Goldman Sachs Group boosted their target price on First Hawaiian from $22.00 to $26.00 and gave the stock a “sell” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. boosted their price objective on First Hawaiian from $25.00 to $27.00 and gave the company an “underweight” rating in a research report on Tuesday, December 17th. Keefe, Bruyette & Woods boosted their price objective on First Hawaiian from $25.00 to $28.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Barclays boosted their price objective on First Hawaiian from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, December 19th. Finally, Stephens began coverage on First Hawaiian in a research report on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 price objective for the company. Four equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, First Hawaiian currently has a consensus rating of “Hold” and a consensus target price of $26.86.

First Hawaiian Stock Up 0.2 %

Shares of FHB traded up $0.05 during mid-day trading on Monday, hitting $24.81. 551,983 shares of the company’s stock traded hands, compared to its average volume of 803,523. First Hawaiian, Inc. has a 1 year low of $19.48 and a 1 year high of $28.80. The firm has a market capitalization of $3.17 billion, a P/E ratio of 14.18 and a beta of 0.99. The business’s 50-day moving average price is $26.64 and its 200-day moving average price is $24.54.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Monday, November 18th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $1.04 annualized dividend and a dividend yield of 4.19%. First Hawaiian’s dividend payout ratio (DPR) is presently 59.43%.

First Hawaiian 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.