Rafferty Asset Management LLC Sells 16,716 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

Rafferty Asset Management LLC lessened its stake in First Hawaiian, Inc. (NASDAQ:FHB) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 111,503 shares of the bank’s stock after selling 16,716 shares during the quarter. Rafferty Asset Management LLC’s holdings in First Hawaiian were worth $2,894,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FHB. Jones Financial Companies Lllp bought a new stake in First Hawaiian in the fourth quarter valued at about $36,000. Blue Trust Inc. increased its holdings in 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 purchasing an additional 904 shares during the last quarter. Global Retirement Partners LLC increased its holdings in First Hawaiian by 32.4% in the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank’s stock valued at $74,000 after purchasing an additional 693 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in First Hawaiian by 280.5% in the fourth 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. Finally, KBC Group NV increased its holdings 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 acquiring an additional 2,579 shares in the last quarter. Institutional investors own 97.63% of the company’s stock.

First Hawaiian Stock Performance

NASDAQ:FHB opened at $24.24 on Tuesday. The company has a market cap of $3.05 billion, a PE ratio of 13.54, a PEG ratio of 3.28 and a beta of 0.82. First Hawaiian, Inc. has a 52-week low of $19.48 and a 52-week high of $28.80. The stock has a 50-day simple moving average of $23.39 and a 200 day simple moving average of $25.50.

First Hawaiian (NASDAQ:FHB) last posted its quarterly earnings data on Wednesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $211.00 million during the quarter, compared to the consensus estimate of $210.24 million. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. First Hawaiian’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. On average, research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The business also recently declared 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 yield of 4.29%. First Hawaiian’s dividend payout ratio (DPR) is presently 56.52%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. The Goldman Sachs Group increased their price target on First Hawaiian from $26.00 to $29.00 and gave the stock a “sell” rating in a report on Monday, February 3rd. Barclays lowered 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. 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 lowered 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. Finally, Wells Fargo & Company lowered their price target on First Hawaiian from $24.00 to $22.00 and set an “underweight” rating for the company in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, First Hawaiian has a consensus 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.