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

First Hawaiian, Inc. (NASDAQ:FHB) was the target of a large 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. Approximately 3.2% of the shares of the stock are sold short. Based on an average daily volume of 546,200 shares, the days-to-cover ratio is currently 7.4 days.

Analysts Set New Price Targets

A number of research analysts have weighed in on FHB shares. The Goldman Sachs Group raised their target price on shares of First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research note on Monday, July 29th. Barclays lifted their target price on shares of First Hawaiian from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Wells Fargo & Company lifted their target price on shares of First Hawaiian from $20.00 to $21.00 and gave the company an “underweight” rating in a report on Monday, October 28th. Keefe, Bruyette & Woods lifted their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the company a “market perform” rating in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. dropped their target price on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, First Hawaiian has an average rating of “Reduce” and a consensus price target of $24.33.

First Hawaiian Trading Down 0.3 %

Shares of FHB traded down $0.07 during mid-day trading on Tuesday, hitting $26.84. 122,878 shares of the company’s stock were exchanged, compared to its average volume of 646,374. First Hawaiian has a fifty-two week low of $18.77 and a fifty-two week high of $28.38. The firm has a market capitalization of $3.43 billion, a P/E ratio of 15.38 and a beta of 0.96. The business’s 50 day moving average is $24.32 and its two-hundred day moving average is $22.95.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Monday, November 18th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, November 18th. This represents a $1.04 annualized dividend and a yield of 3.87%. First Hawaiian’s dividend payout ratio is currently 59.43%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FHB. The Manufacturers Life Insurance Company increased its holdings in First Hawaiian by 1.2% in the third quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank’s stock valued at $245,963,000 after buying an additional 122,599 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in First Hawaiian by 9.9% during the second quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock worth $218,025,000 after acquiring an additional 942,634 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 valued at $108,057,000 after purchasing an additional 370,722 shares during the last quarter. American Century Companies Inc. boosted its holdings 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 valued at $69,321,000 after purchasing an additional 203,407 shares during the last quarter. Finally, Reinhart Partners LLC. boosted its holdings in shares of First Hawaiian by 6.1% in the 3rd quarter. Reinhart Partners LLC. now owns 2,461,319 shares of the bank’s stock valued at $56,980,000 after purchasing an additional 141,327 shares during the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Company 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.