First Hawaiian, Inc. $FHB Shares Purchased by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its holdings in First Hawaiian, Inc. by 0.2%, now owning 10.42% of the company's shares, valued at approximately $320.3 million.
• First Hawaiian reported a quarterly EPS of $0.58, exceeding analysts' expectations, alongside a net margin of 21.45% and revenue of $217.54 million for the quarter.
• The company declared a quarterly dividend of $0.26 per share, resulting in an annualized dividend yield of 4.1%, with a payout ratio of 53.61%.

Kayne Anderson Rudnick Investment Management LLC grew its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,104,695 shares of the bank's stock after buying an additional 24,306 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 10.42% of First Hawaiian worth $320,279,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

FHB has been the topic of a number of recent analyst reports. Barclays restated an "underweight" rating on shares of First Hawaiian in a research note 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. Piper Sandler started coverage on First Hawaiian in a report on Thursday, August 21st. They set a "neutral" rating and a $26.00 price target on the stock. Wells Fargo & Company upped their price objective on First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research note on Thursday, July 10th. Finally, JPMorgan Chase & Co. lifted their target price on First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Three analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Strong Sell" and an average price target of $27.07.

First Hawaiian Stock Performance

FHB stock traded down $0.10 during midday trading on Thursday, reaching $25.91. 1,566,548 shares of the company traded hands, compared to its average volume of 905,334. The business has a 50 day moving average of $25.00 and a 200-day moving average of $24.50. First Hawaiian, Inc. has a 52-week low of $20.32 and a 52-week high of $28.80. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 6.20 and a beta of 0.84.

First Hawaiian (NASDAQ:FHB - Get Free Report) last posted its quarterly earnings data on Friday, July 25th. The bank reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.09. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. The business had revenue of $217.54 million for the quarter, compared to analysts' expectations of $214.67 million. During the same quarter in the previous year, the business posted $0.48 earnings per share. Research analysts anticipate that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Monday, August 18th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.0%. First Hawaiian's dividend payout ratio (DPR) is 53.61%.

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.