GSA Capital Partners LLP Buys Shares of 28,981 First Hawaiian, Inc. $FHB

GSA Capital Partners LLP purchased a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) during the 3rd quarter, HoldingsChannel.com reports. The firm purchased 28,981 shares of the bank’s stock, valued at approximately $720,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new position in shares of First Hawaiian in the second quarter valued at approximately $35,362,000. AQR Capital Management LLC boosted its holdings in First Hawaiian by 109.9% in the 2nd quarter. AQR Capital Management LLC now owns 666,946 shares of the bank’s stock valued at $16,647,000 after purchasing an additional 349,231 shares during the period. Quantinno Capital Management LP grew its position in shares of First Hawaiian by 117.6% during the 2nd quarter. Quantinno Capital Management LP now owns 312,038 shares of the bank’s stock valued at $7,788,000 after purchasing an additional 168,649 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of First Hawaiian by 7,621.5% in the third quarter. AlphaQuest LLC now owns 168,484 shares of the bank’s stock worth $4,183,000 after purchasing an additional 166,302 shares during the period. Finally, Jane Street Group LLC increased its holdings in shares of First Hawaiian by 1,034.4% in the first quarter. Jane Street Group LLC now owns 167,385 shares of the bank’s stock worth $4,091,000 after purchasing an additional 152,630 shares during the period. 97.63% of the stock is owned by hedge funds and other institutional investors.

First Hawaiian Trading Up 0.6%

Shares of First Hawaiian stock opened at $26.39 on Friday. The firm 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, Inc. has a 12 month low of $20.32 and a 12 month high of $28.35. The business’s 50-day moving average price is $26.53 and its 200-day moving average price is $25.44.

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

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.9%. First Hawaiian’s dividend payout ratio is 47.27%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FHB shares. TD Cowen reissued a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. Piper Sandler dropped their price target on First Hawaiian from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Keefe, Bruyette & Woods upped their price objective on shares of First Hawaiian from $28.00 to $29.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Hawaiian in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their price target on shares of First Hawaiian from $28.00 to $29.00 and gave the stock an “underweight” rating in a research note on Monday, February 2nd. Six analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $27.50.

Insider Buying and Selling at First Hawaiian

In related news, Director Craig Scott Wo sold 1,500 shares of First Hawaiian stock in a transaction on Friday, February 6th. The shares were sold at an average price of $27.21, for a total value of $40,815.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Alan Arizumi sold 36,460 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $25.35, for a total transaction of $924,261.00. Following the completion of the sale, the insider directly owned 37,508 shares of the company’s stock, valued at $950,827.80. This represents a 49.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 45,026 shares of company stock worth $1,144,928. 0.61% of the stock is owned by insiders.

About First Hawaiian

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.