Kayne Anderson Rudnick Investment Management LLC Sells 119,402 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Kayne Anderson Rudnick Investment Management LLC reduced its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,080,389 shares of the bank's stock after selling 119,402 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 10.23% of First Hawaiian worth $339,436,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

FHB has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price target on shares of First Hawaiian from $26.00 to $25.00 and set an "underweight" rating for the company in a report on Thursday, April 24th. Piper Sandler increased their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. The Goldman Sachs Group lifted their target price on First Hawaiian from $26.00 to $29.00 and gave the stock a "sell" rating in a research report on Monday, February 3rd. Keefe, Bruyette & Woods lowered their price target on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a research note on Thursday, April 24th. Finally, Barclays cut their price target on First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating for the company in a report on Tuesday, April 8th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $27.29.

First Hawaiian Price Performance

Shares of First Hawaiian stock traded up $0.50 during trading on Tuesday, hitting $23.92. 446,724 shares of the company's stock traded hands, compared to its average volume of 734,231. The firm's fifty day moving average price is $23.30 and its 200 day moving average price is $25.38. First Hawaiian, Inc. has a twelve month low of $19.48 and a twelve month high of $28.80. The company has a market cap of $3.01 billion, a PE ratio of 13.36, a PEG ratio of 3.28 and a beta of 0.82.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $0.01. The firm had revenue of $211.00 million during 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%. The company's revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.42 earnings per share. As a group, equities 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, May 30th. Investors of record on Monday, May 19th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, May 19th. This represents a $1.04 annualized dividend and a dividend yield of 4.35%. 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.