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

GAMMA Investing LLC lifted its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 3,233.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 120,807 shares of the bank's stock after buying an additional 117,183 shares during the quarter. GAMMA Investing LLC owned about 0.10% of First Hawaiian worth $2,953,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FHB. Jones Financial Companies Lllp bought a new position in shares of First Hawaiian in the 4th quarter worth about $36,000. Global Retirement Partners LLC grew its stake in shares of First Hawaiian by 32.4% in the 4th quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank's stock valued at $74,000 after buying an additional 693 shares during the period. Versant Capital Management Inc raised its stake in First Hawaiian by 65.1% during the 1st 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. Smartleaf Asset Management LLC boosted its holdings in First Hawaiian by 280.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank's stock worth $103,000 after acquiring an additional 2,934 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new position in shares of First Hawaiian during the fourth quarter worth approximately $171,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Down 3.1%

Shares of NASDAQ FHB traded down $0.74 on Friday, reaching $23.41. 1,370,472 shares of the company's stock traded hands, compared to its average volume of 739,360. The business's 50 day simple moving average is $23.29 and its two-hundred day simple moving average is $25.11. First Hawaiian, Inc. has a 12 month low of $19.54 and a 12 month high of $28.80. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 13.08, a price-to-earnings-growth ratio of 3.28 and a beta of 0.83.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. The company had revenue of $211.00 million during the quarter, compared to the consensus estimate of $210.24 million. During the same period last year, the company earned $0.42 EPS. First Hawaiian's revenue for the quarter was up 2.5% on a year-over-year basis. Analysts forecast 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 was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were paid a $0.26 dividend. The ex-dividend date was Monday, May 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.44%. First Hawaiian's dividend payout ratio (DPR) is 56.52%.

Analyst Upgrades and Downgrades

FHB has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price target on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a research note on Thursday, April 24th. JPMorgan Chase & Co. cut their target price on First Hawaiian from $26.00 to $25.00 and set an "underweight" rating on the stock in a research note 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. Finally, Wells Fargo & Company reduced their price objective on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating for the company in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $27.29.

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.