First Hawaiian, Inc. (NASDAQ:FHB) Short Interest Down 10.8% in October

First Hawaiian, Inc. (NASDAQ:FHB) saw a significant drop in short interest in October. As of October 31st, there was short interest totalling 4,060,000 shares, a drop of 10.8% from the October 15th total of 4,550,000 shares. Based on an average daily volume of 546,200 shares, the days-to-cover ratio is currently 7.4 days. Approximately 3.2% of the company’s stock are short sold.

Institutional Investors Weigh In On First Hawaiian

Several hedge funds have recently added to or reduced their stakes in FHB. The Manufacturers Life Insurance Company increased its holdings in shares of First Hawaiian by 9.9% in the second 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 period. AQR Capital Management LLC grew its holdings in shares of First Hawaiian by 958.2% during the 2nd quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock worth $9,043,000 after acquiring an additional 397,897 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of First Hawaiian by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock worth $108,057,000 after purchasing an additional 370,722 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of First Hawaiian by 96.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 478,262 shares of the bank’s stock worth $11,072,000 after purchasing an additional 235,253 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of 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 purchasing an additional 203,407 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FHB. Piper Sandler raised their target price on First Hawaiian from $22.00 to $27.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods increased their price target on First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. Barclays increased their price target on First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. The Goldman Sachs Group increased their price target on First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company increased their price target on First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a research report on Monday, October 28th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $24.33.

First Hawaiian Trading Down 0.1 %

Shares of NASDAQ FHB traded down $0.04 during mid-day trading on Friday, hitting $27.20. The company had a trading volume of 632,952 shares, compared to its average volume of 606,326. The company has a market capitalization of $3.48 billion, a price-to-earnings ratio of 15.54 and a beta of 0.96. First Hawaiian has a 1 year low of $18.77 and a 1 year high of $28.38. The stock’s 50-day moving average price is $24.24 and its 200-day moving average price is $22.91.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend is Monday, November 18th. First Hawaiian’s dividend payout ratio is 59.43%.

About First Hawaiian

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.