GSA Capital Partners LLP Buys New Holdings in First Hawaiian, Inc. $FHB

GSA Capital Partners LLP bought a new position in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 28,981 shares of the bank’s stock, valued at approximately $720,000.

Several other hedge funds have also bought and sold shares of FHB. State Street Corp raised its stake in shares of First Hawaiian by 1.3% in the second quarter. State Street Corp now owns 5,883,194 shares of the bank’s stock worth $146,845,000 after purchasing an additional 77,478 shares during the last quarter. Reinhart Partners LLC. grew its holdings in First Hawaiian by 0.7% during the third quarter. Reinhart Partners LLC. now owns 2,360,541 shares of the bank’s stock worth $58,613,000 after buying an additional 17,241 shares in the last quarter. Norges Bank purchased a new stake in First Hawaiian in the 2nd quarter valued at $35,362,000. Arrowstreet Capital Limited Partnership lifted its stake in First Hawaiian by 11.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,325,860 shares of the bank’s stock valued at $33,093,000 after acquiring an additional 135,809 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in First Hawaiian by 109.9% during the 2nd quarter. AQR Capital Management LLC now owns 666,946 shares of the bank’s stock worth $16,647,000 after acquiring an additional 349,231 shares during the last quarter. Institutional investors and hedge funds own 97.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on FHB. Piper Sandler lowered their target price on shares of First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, February 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Hawaiian in a research note on Monday, December 29th. Zacks Research downgraded First Hawaiian from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 25th. Keefe, Bruyette & Woods lifted their price target on First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. boosted their price objective on First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a research report on Monday, February 2nd. Six equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $27.50.

First Hawaiian Trading Up 0.6%

NASDAQ:FHB opened at $26.39 on Friday. First Hawaiian, Inc. has a 12 month low of $20.32 and a 12 month high of $28.35. The firm’s 50 day moving average is $26.53 and its 200 day moving average is $25.44. The stock has a market capitalization of $3.26 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 2.09 and a beta of 0.73.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, January 30th. The bank reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The business had revenue of $199.68 million during the quarter, compared to the consensus estimate of $225.33 million. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.During the same period last year, the business posted $0.41 earnings per share. Research analysts predict that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, February 13th. First Hawaiian’s dividend payout ratio (DPR) is currently 47.27%.

Insider Activity at First Hawaiian

In related news, Director Craig Scott Wo sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $27.21, for a total transaction of $40,815.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Alan Arizumi sold 6,566 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $25.34, for a total transaction of $166,382.44. Following the completion of the transaction, the insider directly owned 1,962 shares of the company’s stock, valued at approximately $49,717.08. This trade represents a 76.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 45,026 shares of company stock worth $1,144,928. Insiders own 0.61% of the company’s stock.

First Hawaiian Profile

First Hawaiian, Inc is the oldest and largest bank in Hawaii, operating as the bank holding company for First Hawaiian Bank. Established in 1858, the company offers a full suite of financial services to individual, business and institutional clients. Its product portfolio includes consumer and commercial lending, deposit accounts, treasury and cash management, foreign exchange and trade finance, as well as wealth management and trust services.

First Hawaiian serves customers through an extensive network of branches, ATMs and digital channels across the Hawaiian Islands, Guam, Saipan and American Samoa.