Rafferty Asset Management LLC Trims Holdings in First Hawaiian, Inc. (NASDAQ:FHB)

Rafferty Asset Management LLC cut 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 and Exchange Commission (SEC). The fund owned 111,503 shares of the bank's stock after selling 16,716 shares during the quarter. Rafferty Asset Management LLC owned 0.09% of First Hawaiian worth $2,894,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its stake in First Hawaiian by 43.1% during the fourth quarter. Quantinno Capital Management LP now owns 97,942 shares of the bank's stock worth $2,542,000 after purchasing an additional 29,519 shares during the last quarter. Ethic Inc. grew its holdings in First Hawaiian by 70.8% during the fourth quarter. Ethic Inc. now owns 30,381 shares of the bank's stock worth $788,000 after acquiring an additional 12,594 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of First Hawaiian by 427.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 617,717 shares of the bank's stock valued at $16,030,000 after purchasing an additional 500,535 shares during the period. Northern Trust Corp boosted its position in shares of First Hawaiian by 10.7% in the 4th quarter. Northern Trust Corp now owns 2,188,005 shares of the bank's stock valued at $56,779,000 after purchasing an additional 211,399 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of First Hawaiian in the 4th quarter valued at $239,000. 97.63% of the stock is currently owned by institutional investors.

First Hawaiian Stock Performance

First Hawaiian stock opened at $24.24 on Tuesday. The firm has a market cap of $3.05 billion, a P/E ratio of 13.54, a P/E/G ratio of 3.28 and a beta of 0.82. The business's fifty day moving average is $23.39 and its two-hundred day moving average is $25.50. First Hawaiian, Inc. has a 52 week low of $19.48 and a 52 week 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 company had revenue of $211.00 million for the quarter, compared to analyst estimates of $210.24 million. During the same quarter in the previous year, the firm earned $0.42 earnings per share. The business's revenue was up 2.5% on a year-over-year basis. On average, equities research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.29%. The ex-dividend date is Monday, May 19th. First Hawaiian's dividend payout ratio (DPR) is presently 56.52%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FHB shares. Keefe, Bruyette & Woods reduced their price target 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. JPMorgan Chase & Co. dropped their price target on First Hawaiian from $26.00 to $25.00 and set an "underweight" rating on the stock in a research report on Thursday, April 24th. Barclays lowered their price objective on First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 8th. Piper Sandler upped their price target on First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Finally, Wells Fargo & Company lowered their price target on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $27.29.

First Hawaiian 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.

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