Balyasny Asset Management L.P. Increases Stock Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Balyasny Asset Management L.P. lifted its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 427.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 617,717 shares of the bank's stock after acquiring an additional 500,535 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.48% of First Hawaiian worth $16,030,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new position in shares of First Hawaiian in the fourth quarter worth approximately $36,000. Blue Trust Inc. boosted its holdings in First Hawaiian by 49.2% in the 4th quarter. Blue Trust Inc. now owns 2,742 shares of the bank's stock worth $71,000 after buying an additional 904 shares during the period. Global Retirement Partners LLC increased its stake in First Hawaiian by 32.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank's stock worth $74,000 after buying an additional 693 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of First Hawaiian by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 3,624 shares of the bank's stock valued at $94,000 after acquiring an additional 461 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of First Hawaiian by 280.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank's stock worth $103,000 after purchasing an additional 2,934 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Stock Down 0.0 %

FHB traded down $0.01 on Friday, hitting $23.63. The company had a trading volume of 547,646 shares, compared to its average volume of 729,119. The business's fifty day simple moving average is $23.50 and its 200 day simple moving average is $25.49. First Hawaiian, Inc. has a 12-month low of $19.48 and a 12-month high of $28.80. The company has a market cap of $2.98 billion, a PE ratio of 13.20, a PEG ratio of 3.28 and a beta of 0.82.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. The business had revenue of $211.00 million for the quarter, compared to the consensus estimate of $210.24 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The business's revenue for the quarter was up 2.5% on a year-over-year basis. On average, analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.04 dividend on an annualized basis and a yield of 4.40%. First Hawaiian's payout ratio is 56.52%.

Analysts Set New Price Targets

FHB has been the subject of several recent analyst reports. The Goldman Sachs Group upped their price target on First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a research note on Monday, February 3rd. Barclays cut their target price on shares of First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Piper Sandler lifted their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods dropped their price objective on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Finally, Wells Fargo & Company reduced their target price on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating on the stock in a report on Wednesday, April 9th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $27.29.

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.