Reinhart Partners LLC. Sells 440,877 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Reinhart Partners LLC. reduced its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,020,442 shares of the bank’s stock after selling 440,877 shares during the period. First Hawaiian accounts for approximately 2.0% of Reinhart Partners LLC.’s holdings, making the stock its 22nd biggest position. Reinhart Partners LLC. owned about 1.58% of First Hawaiian worth $52,430,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in FHB. Blue Trust Inc. grew its holdings in First Hawaiian by 51.5% during the third quarter. Blue Trust Inc. now owns 1,838 shares of the bank’s stock valued at $43,000 after purchasing an additional 625 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of First Hawaiian in the third quarter worth $51,000. Abich Financial Wealth Management LLC lifted its position in shares of First Hawaiian by 32.5% in the second quarter. Abich Financial Wealth Management LLC now owns 2,628 shares of the bank’s stock worth $55,000 after purchasing an additional 644 shares in the last quarter. Quarry LP increased its holdings in First Hawaiian by 459.2% during the third quarter. Quarry LP now owns 2,483 shares of the bank’s stock worth $57,000 after buying an additional 2,039 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of First Hawaiian by 49.1% in the third quarter. GAMMA Investing LLC now owns 3,163 shares of the bank’s stock valued at $73,000 after acquiring an additional 1,041 shares in the last quarter. 97.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of First Hawaiian from $25.00 to $27.00 and gave the company an “underweight” rating in a research note on Tuesday, December 17th. Barclays raised their price objective on shares of First Hawaiian from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, December 19th. Stephens began coverage on shares of First Hawaiian in a report on Wednesday, November 27th. They issued an “equal weight” rating and a $30.00 price objective for the company. Wells Fargo & Company increased their target price on shares of First Hawaiian from $21.00 to $22.00 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group increased their target price on shares of First Hawaiian from $22.00 to $26.00 and gave the company a “sell” rating in a research report on Tuesday, November 26th. Four analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $26.86.

First Hawaiian Stock Performance

Shares of FHB stock traded up $0.05 during trading hours on Monday, hitting $24.81. 551,983 shares of the company were exchanged, compared to its average volume of 803,523. First Hawaiian, Inc. has a fifty-two week low of $19.48 and a fifty-two week high of $28.80. The company has a 50 day simple moving average of $26.64 and a two-hundred day simple moving average of $24.54. The firm has a market cap of $3.17 billion, a P/E ratio of 14.18 and a beta of 0.99.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Monday, November 18th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.19%. The ex-dividend date of this dividend was Monday, November 18th. 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.