Kayne Anderson Rudnick Investment Management LLC Lowers Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Kayne Anderson Rudnick Investment Management LLC lowered its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,153,459 shares of the bank’s stock after selling 141,193 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 10.29% of First Hawaiian worth $273,066,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in FHB. Vanguard Personalized Indexing Management LLC raised its holdings in First Hawaiian by 18.8% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,206 shares of the bank’s stock worth $325,000 after purchasing an additional 2,247 shares in the last quarter. Norges Bank purchased a new stake in shares of First Hawaiian in the fourth quarter valued at approximately $32,689,000. Intech Investment Management LLC acquired a new position in First Hawaiian during the fourth quarter worth $337,000. Parallel Advisors LLC raised its position in First Hawaiian by 75.3% in the fourth quarter. Parallel Advisors LLC now owns 3,790 shares of the bank’s stock worth $87,000 after acquiring an additional 1,628 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in First Hawaiian by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 56,400 shares of the bank’s stock valued at $1,289,000 after acquiring an additional 550 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Piper Sandler upped 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. The Goldman Sachs Group lifted their price target on shares of First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research report on Monday, July 29th. Wells Fargo & Company upped their price target on First Hawaiian from $18.00 to $22.00 and gave the stock an “underweight” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lifted their price objective on First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Finally, Barclays boosted their target price on First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, First Hawaiian has a consensus rating of “Reduce” and an average target price of $24.67.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB opened at $23.80 on Friday. The business’s fifty day moving average price is $23.84 and its two-hundred day moving average price is $22.04. The stock has a market cap of $3.04 billion, a PE ratio of 13.68 and a beta of 0.98. First Hawaiian, Inc. has a one year low of $17.18 and a one year high of $26.18.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Friday, July 26th. The bank reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The firm had revenue of $204.62 million during the quarter, compared to analysts’ expectations of $202.94 million. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. As a group, equities research analysts predict that First Hawaiian, Inc. will post 1.79 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Monday, August 19th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, August 19th. First Hawaiian’s payout ratio is 59.77%.

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.