First Hawaiian, Inc. (NASDAQ:FHB) Position Increased by GAMMA Investing LLC

GAMMA Investing LLC boosted its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 49.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,163 shares of the bank’s stock after purchasing an additional 1,041 shares during the period. GAMMA Investing LLC’s holdings in First Hawaiian were worth $73,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of First Hawaiian by 9.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,502,160 shares of the bank’s stock valued at $218,025,000 after buying an additional 942,634 shares during the last quarter. AQR Capital Management LLC grew its position in First Hawaiian by 958.2% in the second quarter. AQR Capital Management LLC now owns 439,423 shares of the bank’s stock worth $9,043,000 after acquiring an additional 397,897 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of First Hawaiian by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,205,140 shares of the bank’s stock worth $108,057,000 after purchasing an additional 370,722 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of First Hawaiian by 6.5% during 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 in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of First Hawaiian by 187.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 243,009 shares of the bank’s stock valued at $5,045,000 after purchasing an additional 158,327 shares during the last quarter. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Price Performance

Shares of First Hawaiian stock opened at $24.20 on Wednesday. The firm has a fifty day moving average price of $23.36 and a two-hundred day moving average price of $22.24. First Hawaiian, Inc. has a fifty-two week low of $17.18 and a fifty-two week high of $26.18. The company has a market cap of $3.09 billion, a PE ratio of 13.91 and a beta of 0.98.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, July 26th. The bank reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The business had revenue of $204.62 million for the quarter, compared to the consensus estimate of $202.94 million. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. Analysts expect that First Hawaiian, Inc. will post 1.78 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 19th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date of this dividend was Monday, August 19th. First Hawaiian’s dividend payout ratio is 59.77%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on First Hawaiian from $21.00 to $24.00 and gave the stock a “sell” rating in a research report on Monday, July 29th. Piper Sandler boosted their target price on First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Wells Fargo & Company lowered their price target on First Hawaiian from $22.00 to $20.00 and set an “underweight” rating on the stock in a report on Tuesday, October 1st. JPMorgan Chase & Co. decreased their price objective 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. Finally, Keefe, Bruyette & Woods lifted their target price on shares of First Hawaiian from $25.00 to $26.00 and gave the stock a “market perform” rating in a report on Monday, July 29th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, First Hawaiian presently has an average rating of “Reduce” and a consensus target price of $24.17.

First Hawaiian 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.