First Hawaiian, Inc. (NASDAQ:FHB) Sees Large Increase in Short Interest

First Hawaiian, Inc. (NASDAQ:FHB) was the recipient of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 4,270,000 shares, a growth of 16.7% from the June 30th total of 3,660,000 shares. Approximately 3.4% of the company’s shares are sold short. Based on an average trading volume of 704,700 shares, the days-to-cover ratio is currently 6.1 days.

First Hawaiian Price Performance

Shares of FHB opened at $25.26 on Wednesday. First Hawaiian has a 1-year low of $17.18 and a 1-year high of $26.18. The company has a 50-day moving average of $21.46 and a 200 day moving average of $21.47. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 14.52 and a beta of 0.99.

First Hawaiian Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Monday, August 19th. First Hawaiian’s dividend payout ratio (DPR) is 59.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FHB shares. Piper Sandler raised their target price on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday. Barclays raised their target price on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday. 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 report on Monday. Wells Fargo & Company raised their target price on shares of First Hawaiian from $18.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday. Finally, JPMorgan Chase & Co. lowered shares of First Hawaiian from a “neutral” rating to an “underweight” rating and set a $24.00 price objective for the company. in a report on Monday. Four equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $24.67.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Whittier Trust Co. grew its position in shares of First Hawaiian by 68.7% in the 2nd quarter. Whittier Trust Co. now owns 1,245 shares of the bank’s stock worth $26,000 after buying an additional 507 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of First Hawaiian by 196.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,253 shares of the bank’s stock worth $27,000 after buying an additional 831 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of First Hawaiian in the 4th quarter worth approximately $37,000. Versant Capital Management Inc grew its position in shares of First Hawaiian by 55.7% in the 2nd quarter. Versant Capital Management Inc now owns 1,895 shares of the bank’s stock worth $39,000 after buying an additional 678 shares during the last quarter. Finally, Quent Capital LLC grew its position in shares of First Hawaiian by 86.5% in the 4th quarter. Quent Capital LLC now owns 1,759 shares of the bank’s stock worth $40,000 after buying an additional 816 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

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.