Graham Capital Management L.P. Invests $2.03 Million in First Hawaiian, Inc. $FHB

Key Points

• Graham Capital Management L.P. acquired 83,086 shares of First Hawaiian, Inc. valued at approximately $2,031,000, increasing its stake to about 0.07% as of the latest SEC filing.
• First Hawaiian announced a quarterly dividend of $0.26 per share, contributing to an annualized dividend yield of 4.0% and reflecting a payout ratio of 53.61%.
• The company's stock has an analyst consensus rating of "Strong Sell", with a target price of $27.07, as noted in recent brokerage reports.

Graham Capital Management L.P. bought a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 83,086 shares of the bank's stock, valued at approximately $2,031,000. Graham Capital Management L.P. owned about 0.07% of First Hawaiian at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. SummerHaven Investment Management LLC lifted its stake in First Hawaiian by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 36,493 shares of the bank's stock worth $892,000 after purchasing an additional 521 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of First Hawaiian by 199.7% in the 1st 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 last quarter. CWM LLC lifted its stake in shares of First Hawaiian by 7.5% in the 1st quarter. CWM LLC now owns 12,769 shares of the bank's stock valued at $312,000 after acquiring an additional 894 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of First Hawaiian by 26.0% in the 1st quarter. Parallel Advisors LLC now owns 4,462 shares of the bank's stock valued at $109,000 after acquiring an additional 920 shares during the last quarter. Finally, Retirement Planning Group LLC lifted its stake in shares of First Hawaiian by 2.8% in the 4th 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 during the last quarter. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Down 1.5%

First Hawaiian stock traded down $0.40 during trading hours on Friday, reaching $25.73. 781,808 shares of the company's stock were exchanged, compared to its average volume of 962,077. The firm's 50 day simple moving average is $25.24 and its 200 day simple moving average is $24.41. First Hawaiian, Inc. has a twelve month low of $20.32 and a twelve month high of $28.80. The firm has a market capitalization of $3.21 billion, a PE ratio of 13.26, a PEG ratio of 6.24 and a beta of 0.89.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly 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. First Hawaiian had a return on equity of 9.29% and a net margin of 21.45%.The firm had revenue of $217.54 million during the quarter, compared to the consensus estimate of $214.67 million. During the same period last year, the business posted $0.48 EPS. Analysts anticipate that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Monday, August 18th were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, August 18th. First Hawaiian's dividend payout ratio (DPR) is presently 53.61%.

Analyst Ratings Changes

A number of brokerages have recently commented on FHB. Wells Fargo & Company increased their price target on First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a research note on Thursday, July 10th. Piper Sandler initiated coverage on First Hawaiian in a research note on Thursday, August 21st. They issued a "neutral" rating and a $26.00 price target for the company. Barclays restated an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. JPMorgan Chase & Co. increased their price objective on First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Finally, Wall Street Zen upgraded First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Three research analysts have rated the stock with a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and an average price target of $27.07.

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.