Balyasny Asset Management L.P. Purchases 500,535 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Balyasny Asset Management L.P. raised its position 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 SEC. The institutional investor owned 617,717 shares of the bank's stock after purchasing an additional 500,535 shares during the quarter. Balyasny Asset Management L.P. owned 0.48% of First Hawaiian worth $16,030,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in FHB. CKW Financial Group grew its position in First Hawaiian by 1.2% during the fourth quarter. CKW Financial Group now owns 32,600 shares of the bank's stock valued at $846,000 after buying an additional 400 shares during the period. M&T Bank Corp boosted its position in shares of First Hawaiian by 2.5% in the fourth quarter. M&T Bank Corp now owns 16,661 shares of the bank's stock worth $432,000 after purchasing an additional 409 shares during the period. GAMMA Investing LLC boosted 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 worth $94,000 after purchasing an additional 461 shares during the period. Covestor Ltd boosted its position in shares of First Hawaiian by 8.1% in the fourth quarter. Covestor Ltd now owns 7,226 shares of the bank's stock worth $188,000 after purchasing an additional 539 shares during the period. Finally, Evergreen Capital Management LLC boosted its position in shares of First Hawaiian by 1.8% in the fourth quarter. Evergreen Capital Management LLC now owns 37,260 shares of the bank's stock worth $967,000 after purchasing an additional 649 shares during the period. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Down 0.1%

First Hawaiian stock traded down $0.03 during mid-day trading on Tuesday, reaching $24.61. 159,954 shares of the company's stock traded hands, compared to its average volume of 728,933. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 3.28 and a beta of 0.82. The stock has a 50 day moving average of $23.47 and a two-hundred day moving average of $25.51. First Hawaiian, Inc. has a 12-month low of $19.48 and a 12-month high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $210.24 million. During the same quarter in the previous year, the business posted $0.42 earnings per share. The business's revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Monday, May 19th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Monday, May 19th. First Hawaiian's dividend payout ratio (DPR) is 56.52%.

Analysts Set New Price Targets

A number of research firms have weighed in on FHB. Keefe, Bruyette & Woods dropped their price target on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a research report on Thursday, April 24th. Piper Sandler upped their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. lowered their target price on shares of First Hawaiian from $26.00 to $25.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group boosted their target price on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a report on Monday, February 3rd. Finally, Barclays lowered their target price on shares of First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, First Hawaiian has an average rating of "Hold" and an average 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.