Kayne Anderson Rudnick Investment Management LLC Has $339.44 Million Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

Kayne Anderson Rudnick Investment Management LLC cut its holdings in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,080,389 shares of the bank's stock after selling 119,402 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 10.23% of First Hawaiian worth $339,436,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Jones Financial Companies Lllp bought a new position in First Hawaiian in the 4th quarter valued at approximately $36,000. Blue Trust Inc. raised its holdings in shares of First Hawaiian by 49.2% in the 4th quarter. Blue Trust Inc. now owns 2,742 shares of the bank's stock worth $71,000 after acquiring an additional 904 shares during the last quarter. Global Retirement Partners LLC grew its holdings in First Hawaiian by 32.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank's stock worth $74,000 after buying an additional 693 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in First Hawaiian by 280.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank's stock valued at $103,000 after purchasing an additional 2,934 shares during the period. Finally, KBC Group NV boosted its stake in First Hawaiian by 72.1% in the 4th quarter. KBC Group NV now owns 6,154 shares of the bank's stock worth $160,000 after purchasing an additional 2,579 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a research report on Monday, February 3rd. Wells Fargo & Company cut their target price on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 9th. Barclays reduced their price target on shares of First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 8th. Keefe, Bruyette & Woods decreased their target price on shares of 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. Finally, JPMorgan Chase & Co. dropped their price objective 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. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat.com, First Hawaiian presently has an average rating of "Hold" and an average price target of $27.29.

First Hawaiian Stock Performance

FHB stock remained flat at $23.87 during midday trading on Friday. The company's stock had a trading volume of 303,538 shares, compared to its average volume of 731,972. The stock has a market cap of $3.00 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82. First Hawaiian, Inc. has a 12 month low of $19.48 and a 12 month high of $28.80. The firm has a 50-day moving average price of $23.27 and a two-hundred day moving average price of $25.35.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $211.00 million for the quarter, compared to analysts' expectations of $210.24 million. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. First Hawaiian's revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.42 EPS. On average, analysts predict that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.36%. First Hawaiian's dividend payout ratio (DPR) is presently 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.