GAMMA Investing LLC Buys 1,041 Shares of First Hawaiian, Inc. (NASDAQ:FHB)

GAMMA Investing LLC grew its position in First Hawaiian, Inc. (NASDAQ:FHB) by 49.1% in the third quarter, HoldingsChannel.com reports. The fund owned 3,163 shares of the bank’s stock after buying an additional 1,041 shares during the quarter. GAMMA Investing LLC’s holdings in First Hawaiian were worth $73,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of FHB. Wellington Management Group LLP boosted its stake in shares of First Hawaiian by 14.3% in the 4th quarter. Wellington Management Group LLP now owns 396,253 shares of the bank’s stock valued at $9,058,000 after purchasing an additional 49,547 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of First Hawaiian by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 14,651,233 shares of the bank’s stock worth $334,927,000 after acquiring an additional 87,304 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of First Hawaiian by 8.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,135 shares of the bank’s stock valued at $163,000 after purchasing an additional 550 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in First Hawaiian by 17.7% during the first quarter. Los Angeles Capital Management LLC now owns 19,234 shares of the bank’s stock worth $422,000 after buying an additional 2,892 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of First Hawaiian by 1.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,411,165 shares of the bank’s stock worth $30,989,000 after acquiring an additional 17,927 shares during the period. Institutional investors and hedge funds own 97.63% of the company’s stock.

First Hawaiian Trading Up 2.4 %

FHB opened at $24.20 on Wednesday. The company has a 50 day moving average of $23.36 and a 200 day moving average of $22.24. The company has a market cap of $3.09 billion, a PE ratio of 13.91 and a beta of 0.98. First Hawaiian, Inc. has a 12 month low of $17.18 and a 12 month high of $26.18.

First Hawaiian (NASDAQ:FHB) last posted its earnings results on Friday, July 26th. The bank reported $0.48 EPS for the quarter, topping the consensus estimate of $0.42 by $0.06. The business had revenue of $204.62 million during the quarter, compared to analysts’ expectations of $202.94 million. First Hawaiian had a return on equity of 8.96% and a net margin of 18.83%. Research analysts forecast that First Hawaiian, Inc. will post 1.78 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Monday, August 19th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend was Monday, August 19th. First Hawaiian’s payout ratio is currently 59.77%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on FHB shares. Wells Fargo & Company cut their price target on First Hawaiian from $22.00 to $20.00 and set an “underweight” rating for the company in a research note on Tuesday, October 1st. Barclays increased their price objective on shares of First Hawaiian from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of First Hawaiian from $24.00 to $23.00 and set an “underweight” rating for the company in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their price target on shares of First Hawaiian from $21.00 to $24.00 and gave the company a “sell” rating in a research report on Monday, July 29th. Finally, Piper Sandler lifted their price objective on shares of First Hawaiian from $22.00 to $27.00 and gave the stock a “neutral” rating in a report on Monday, July 29th. Four research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $24.17.

First Hawaiian Company 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.