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

Kayne Anderson Rudnick Investment Management LLC cut its holdings in shares of First Hawaiian, Inc. (NASDAQ:FHB - Free Report) by 0.9% during the 4th quarter, according to its most recent disclosure 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 quarter. Kayne Anderson Rudnick Investment Management LLC owned 10.23% of First Hawaiian worth $339,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Jones Financial Companies Lllp acquired a new position in shares of First Hawaiian in the 4th quarter valued at approximately $36,000. Blue Trust Inc. raised its position in First Hawaiian by 49.2% during the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank's stock valued at $71,000 after purchasing an additional 904 shares in the last quarter. Global Retirement Partners LLC lifted its stake 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 purchasing an additional 693 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of First Hawaiian by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 3,624 shares of the bank's stock valued at $94,000 after purchasing an additional 461 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of 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 last quarter. 97.63% of the stock is currently owned by institutional investors and hedge funds.

First Hawaiian Stock Down 0.9 %

Shares of FHB stock traded down $0.20 during trading hours on Friday, hitting $22.84. 278,822 shares of the company's stock traded hands, compared to its average volume of 723,090. First Hawaiian, Inc. has a 12 month low of $19.48 and a 12 month high of $28.80. The stock has a market cap of $2.88 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77. The stock's 50 day simple moving average is $24.30 and its 200 day simple moving average is $25.53.

First Hawaiian (NASDAQ:FHB - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The bank reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. The firm had revenue of $211.00 million for the quarter, compared to the consensus estimate of $210.24 million. As a group, equities research analysts expect that First Hawaiian, Inc. will post 1.95 EPS for the current fiscal year.

First Hawaiian Dividend Announcement

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 issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.55%. The ex-dividend date is Monday, May 19th. First Hawaiian's payout ratio is presently 58.10%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FHB shares. Keefe, Bruyette & Woods dropped their price objective on First Hawaiian from $30.00 to $28.00 and set a "market perform" rating for the company in a research report on Thursday. Barclays dropped their target price on shares of 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 lowered their price objective on shares of First Hawaiian from $24.00 to $22.00 and set an "underweight" rating for the company in a research report on Wednesday, April 9th. The Goldman Sachs Group raised their target price on shares of First Hawaiian from $26.00 to $29.00 and gave the company a "sell" rating in a research report on Monday, February 3rd. Finally, Piper Sandler boosted their target price on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. Three research 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 presently has a consensus 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.