Caxton Associates LLP Purchases New Position in First Hawaiian, Inc. $FHB

Key Points

• Caxton Associates LLP acquired 22,544 shares of First Hawaiian, Inc. valued at approximately $551,000 in the first quarter, indicating growing institutional interest in the bank's stock.
• First Hawaiian reported $0.58 earnings per share (EPS) for the quarter, exceeding analysts' expectations of $0.49 and demonstrating strong financial performance with a net margin of 21.45%.
• The company announced a quarterly dividend of $0.26, representing an annualized yield of 4.0%, with a dividend payout ratio of 53.61%.

Caxton Associates LLP bought a new position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,544 shares of the bank's stock, valued at approximately $551,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FHB. Caitong International Asset Management Co. Ltd lifted its holdings in First Hawaiian by 199.7% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank's stock valued at $26,000 after acquiring an additional 705 shares during the period. Headlands Technologies LLC purchased a new stake in First Hawaiian during the first quarter worth $44,000. Versant Capital Management Inc grew its position in First Hawaiian by 65.1% during the first quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock valued at $76,000 after buying an additional 1,233 shares during the period. Parallel Advisors LLC increased its holdings in First Hawaiian by 26.0% in the first quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock valued at $109,000 after buying an additional 920 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of First Hawaiian by 36.4% in the first quarter. GAMMA Investing LLC now owns 4,943 shares of the bank's stock worth $121,000 after acquiring an additional 1,319 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FHB has been the subject of a number of analyst reports. Piper Sandler began coverage on First Hawaiian in a report on Thursday, August 21st. They issued a "neutral" rating and a $26.00 price target for the company. JPMorgan Chase & Co. upped their target price on First Hawaiian from $25.00 to $25.50 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Barclays reiterated an "underweight" rating on shares of First Hawaiian in a research report on Tuesday, July 8th. Wall Street Zen raised shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Wells Fargo & Company upped their price objective on shares of First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Strong Sell" and a consensus target price of $27.07.

First Hawaiian Stock Performance

FHB stock traded up $0.38 during mid-day trading on Wednesday, reaching $25.48. The company had a trading volume of 93,806 shares, compared to its average volume of 899,519. The firm has a fifty day simple moving average of $25.17 and a 200 day simple moving average of $24.35. The company has a market capitalization of $3.18 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 6.16 and a beta of 0.89. First Hawaiian, Inc. has a fifty-two week low of $20.32 and a fifty-two week high of $28.80.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its earnings results on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.49 by $0.09. The firm had revenue of $217.54 million for the quarter, compared to analyst estimates of $214.67 million. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. During the same period in the prior year, the firm earned $0.48 earnings per share. As a group, analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Monday, August 18th were issued a $0.26 dividend. The ex-dividend date was Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.1%. First Hawaiian's dividend payout ratio is presently 53.61%.

About First Hawaiian

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.