Rafferty Asset Management LLC Has $2.89 Million Stock Position in First Hawaiian, Inc. (NASDAQ:FHB)

Rafferty Asset Management LLC lowered its position in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,503 shares of the bank's stock after selling 16,716 shares during the quarter. Rafferty Asset Management LLC owned about 0.09% of First Hawaiian worth $2,894,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FHB. 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 stake in shares of First Hawaiian by 49.2% during 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 in the last quarter. Global Retirement Partners LLC boosted its position 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 buying an additional 693 shares during the period. Smartleaf Asset Management LLC boosted its position 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 buying an additional 2,934 shares during the period. Finally, KBC Group NV boosted its position in shares of First Hawaiian by 72.1% in the fourth quarter. KBC Group NV now owns 6,154 shares of the bank's stock worth $160,000 after buying an additional 2,579 shares during the period. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Performance

Shares of First Hawaiian stock traded down $0.18 during trading on Friday, reaching $23.42. The company's stock had a trading volume of 405,579 shares, compared to its average volume of 735,385. The business's fifty day moving average price is $23.33 and its 200-day moving average price is $25.42. The firm 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 0.82. First Hawaiian, Inc. has a one year low of $19.48 and a one year high of $28.80.

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

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Monday, May 19th will be paid a dividend of $0.26 per share. The ex-dividend date is Monday, May 19th. This represents a $1.04 annualized dividend and a yield of 4.44%. First Hawaiian's dividend payout ratio is 56.52%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays cut their price objective 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. Wells Fargo & Company cut 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. Piper Sandler increased their price objective on First Hawaiian from $28.00 to $30.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. Keefe, Bruyette & Woods cut their price objective on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a report on Thursday, April 24th. Finally, 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 report on Thursday, April 24th. Three equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company's stock. Based on data from MarketBeat.com, First Hawaiian has an average rating of "Hold" and a consensus 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.