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 the month of 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 trading volume of 546,200 shares, the short-interest ratio is presently 7.4 days. Approximately 3.2% of the company’s shares are short sold.

First Hawaiian Stock Down 0.3 %

Shares of FHB traded down $0.07 during midday trading on Tuesday, hitting $26.84. The company had a trading volume of 122,878 shares, compared to its average volume of 646,374. The company’s 50 day moving average price is $24.32 and its 200 day moving average price is $22.95. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 15.38 and a beta of 0.96. First Hawaiian has a 52 week low of $18.77 and a 52 week high of $28.38.

First Hawaiian Dividend Announcement

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

Institutional Investors Weigh In On First Hawaiian

Several hedge funds and other institutional investors have recently modified their holdings of FHB. Janney Montgomery Scott LLC bought a new stake in shares of First Hawaiian in the 1st quarter worth about $260,000. Russell Investments Group Ltd. boosted its holdings in shares of First Hawaiian by 98.5% in the 1st quarter. Russell Investments Group Ltd. now owns 11,824 shares of the bank’s stock valued at $260,000 after buying an additional 5,868 shares during the period. CANADA LIFE ASSURANCE Co boosted its stake in First Hawaiian by 9.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 136,316 shares of the bank’s stock valued at $2,992,000 after purchasing an additional 11,553 shares during the period. MQS Management LLC acquired a new position in First Hawaiian during the 1st quarter valued at about $209,000. Finally, LRI Investments LLC acquired a new position in First Hawaiian during the 1st quarter valued at about $166,000. Institutional investors own 97.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group raised their target price on shares of First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research note on Monday, July 29th. Wells Fargo & Company lifted their price target on shares of First Hawaiian from $20.00 to $21.00 and gave the stock an “underweight” rating in a research note on Monday, October 28th. Barclays lifted their price target on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. JPMorgan Chase & Co. dropped their price target on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 9th. Finally, Piper Sandler lifted their price target on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, July 29th. 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 data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $24.33.

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.