GAMMA Investing LLC Purchases 117,183 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

GAMMA Investing LLC increased its position in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 3,233.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 120,807 shares of the bank's stock after buying an additional 117,183 shares during the quarter. GAMMA Investing LLC owned 0.10% of First Hawaiian worth $2,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in shares of First Hawaiian by 65.1% in the first quarter. Versant Capital Management Inc now owns 3,128 shares of the bank's stock worth $76,000 after buying an additional 1,233 shares during the period. Wellington Management Group LLP boosted its holdings in First Hawaiian by 1.8% in the fourth quarter. Wellington Management Group LLP now owns 699,224 shares of the bank's stock valued at $18,145,000 after acquiring an additional 12,523 shares in the last quarter. Retirement Planning Group LLC boosted its holdings in First Hawaiian by 2.8% in the fourth quarter. Retirement Planning Group LLC now owns 34,634 shares of the bank's stock valued at $899,000 after acquiring an additional 938 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in First Hawaiian by 18.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 393,393 shares of the bank's stock valued at $10,209,000 after acquiring an additional 62,306 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in First Hawaiian by 41.9% in the fourth quarter. Squarepoint Ops LLC now owns 42,849 shares of the bank's stock valued at $1,112,000 after acquiring an additional 12,646 shares in the last quarter. 97.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price target 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. Barclays cut their price target 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. Keefe, Bruyette & Woods cut their price target on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Finally, Wells Fargo & Company cut their price target on shares of 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 company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $27.29.

First Hawaiian Stock Down 0.6%

Shares of FHB stock traded down $0.14 during mid-day trading on Monday, reaching $23.27. 609,579 shares of the company's stock traded hands, compared to its average volume of 741,411. First Hawaiian, Inc. has a 12 month low of $19.63 and a 12 month high of $28.80. The company has a market cap of $2.93 billion, a P/E ratio of 13.00, a P/E/G ratio of 3.28 and a beta of 0.83. The company's 50-day moving average price is $23.38 and its 200-day moving average price is $25.02.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.47 EPS 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 firm 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 EPS. The company's quarterly revenue was up 2.5% on a year-over-year basis. Equities analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Monday, May 19th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date was Monday, May 19th. First Hawaiian's payout ratio is 56.52%.

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.