Balyasny Asset Management L.P. Purchases 500,535 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Balyasny Asset Management L.P. grew its position in shares of First Hawaiian, Inc. (NASDAQ:FHB) by 427.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 617,717 shares of the bank’s stock after buying an additional 500,535 shares during the period. Balyasny Asset Management L.P.’s holdings in First Hawaiian were worth $16,030,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp bought a new stake in shares of First Hawaiian in the fourth quarter valued at approximately $36,000. Blue Trust Inc. lifted its position 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 valued at $71,000 after acquiring an additional 904 shares during the period. Global Retirement Partners LLC increased 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 purchasing an additional 693 shares during the period. GAMMA Investing LLC raised its stake in First Hawaiian by 14.6% in the fourth 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 lifted its position in First Hawaiian by 280.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank’s stock worth $103,000 after purchasing an additional 2,934 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Trading Down 0.4 %

NASDAQ:FHB opened at $22.94 on Thursday. The stock’s 50-day moving average is $23.61 and its 200-day moving average is $25.49. First Hawaiian, Inc. has a 1-year low of $19.48 and a 1-year high of $28.80. The stock has a market cap of $2.89 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 3.28 and a beta of 0.82.

First Hawaiian (NASDAQ:FHB) last issued 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 company had revenue of $211.00 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $0.42 earnings per share. As a group, equities analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

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 4.53%. First Hawaiian’s dividend payout ratio (DPR) is 56.52%.

Analyst Upgrades and Downgrades

FHB has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price target on shares of First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a report on Monday, February 3rd. Barclays reduced their target price on First Hawaiian from $30.00 to $27.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 8th. JPMorgan Chase & Co. lowered their price target on First Hawaiian from $26.00 to $25.00 and set an “underweight” rating for the company in a report on Thursday, April 24th. Keefe, Bruyette & Woods reduced their price objective 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, Piper Sandler boosted their target price on 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 stock. According to data from MarketBeat.com, the company currently 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.