First Hawaiian, Inc. $FHB Stock Position Lifted by Rafferty Asset Management LLC

Rafferty Asset Management LLC lifted its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 46.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,504 shares of the bank’s stock after purchasing an additional 62,813 shares during the quarter. Rafferty Asset Management LLC’s holdings in First Hawaiian were worth $4,929,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Royal Bank of Canada increased its stake in First Hawaiian by 8.6% during the 1st quarter. Royal Bank of Canada now owns 165,337 shares of the bank’s stock valued at $4,041,000 after buying an additional 13,071 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of First Hawaiian by 9.3% during the first quarter. Integrated Wealth Concepts LLC now owns 10,060 shares of the bank’s stock valued at $246,000 after acquiring an additional 856 shares during the period. United Services Automobile Association bought a new stake in First Hawaiian during the first quarter worth approximately $201,000. Empowered Funds LLC lifted its position in First Hawaiian by 10.4% in the first quarter. Empowered Funds LLC now owns 16,407 shares of the bank’s stock worth $401,000 after purchasing an additional 1,542 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in First Hawaiian by 8.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 425,079 shares of the bank’s stock worth $10,389,000 after purchasing an additional 31,686 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Stock Down 0.5%

NASDAQ:FHB opened at $25.01 on Wednesday. First Hawaiian, Inc. has a 1-year low of $20.32 and a 1-year high of $28.35. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 1.99 and a beta of 0.71. The stock has a fifty day simple moving average of $26.38 and a 200 day simple moving average of $25.49.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, January 30th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. First Hawaiian had a net margin of 23.65% and a return on equity of 10.19%. The company had revenue of $225.85 million during the quarter, compared to analyst estimates of $225.33 million. During the same period in the prior year, the firm earned $0.41 earnings per share. Equities analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Friday, February 13th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a yield of 4.2%. First Hawaiian’s dividend payout ratio (DPR) is currently 47.27%.

Wall Street Analysts Forecast Growth

FHB has been the topic of several research analyst reports. TD Cowen reiterated a “hold” rating on shares of First Hawaiian in a research report on Monday, February 2nd. Piper Sandler lowered their target price on First Hawaiian from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, February 2nd. Barclays raised shares of First Hawaiian from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $26.00 to $28.00 in a report on Tuesday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 2nd. Finally, Wall Street Zen raised shares of First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of $27.50.

Insider Activity at First Hawaiian

In other First Hawaiian news, insider Alan Arizumi sold 36,460 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $25.35, for a total transaction of $924,261.00. Following the sale, the insider directly owned 37,508 shares of the company’s stock, valued at $950,827.80. The trade was a 49.29% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Craig Scott Wo sold 1,500 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 45,026 shares of company stock worth $1,144,928. Corporate insiders own 0.61% of the company’s stock.

First Hawaiian Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.