GAMMA Investing LLC Makes New $37,000 Investment in First Hawaiian, Inc. (NASDAQ:FHB)

GAMMA Investing LLC purchased a new stake in shares of First Hawaiian, Inc. (NASDAQ:FHB) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,724 shares of the bank’s stock, valued at approximately $37,000.

Other large investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of First Hawaiian by 17.8% in the third quarter. The Manufacturers Life Insurance Company now owns 10,351,384 shares of the bank’s stock worth $186,842,000 after buying an additional 1,561,662 shares in the last quarter. Reinhart Partners LLC. raised its position in First Hawaiian by 10.2% in the 4th quarter. Reinhart Partners LLC. now owns 2,251,009 shares of the bank’s stock worth $51,458,000 after buying an additional 207,652 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in First Hawaiian by 12.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,879,410 shares of the bank’s stock valued at $33,923,000 after acquiring an additional 207,383 shares during the period. Richard Bernstein Advisors LLC purchased a new position in shares of First Hawaiian during the third quarter valued at approximately $3,437,000. Finally, Charles Schwab Investment Management Inc. lifted its position in First Hawaiian by 8.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,425,166 shares of the bank’s stock valued at $25,724,000 after purchasing an additional 110,347 shares during the period. Hedge funds and other institutional investors own 97.63% of the company’s stock.

First Hawaiian Trading Up 0.4 %

First Hawaiian stock opened at $21.78 on Friday. First Hawaiian, Inc. has a 12-month low of $15.08 and a 12-month high of $23.22. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 12.52 and a beta of 1.00. The firm has a 50 day moving average of $21.32 and a 200 day moving average of $20.91.

First Hawaiian (NASDAQ:FHB) last issued its earnings results on Friday, April 26th. The bank reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $205.80 million for the quarter, compared to the consensus estimate of $202.41 million. First Hawaiian had a return on equity of 9.16% and a net margin of 19.20%. On average, analysts predict that First Hawaiian, Inc. will post 1.71 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $1.04 annualized dividend and a yield of 4.78%. First Hawaiian’s dividend payout ratio (DPR) is currently 59.77%.

Wall Street Analysts Forecast Growth

FHB has been the topic of a number of research reports. Barclays began coverage on First Hawaiian in a research note on Friday, March 8th. They issued an “equal weight” rating and a $25.00 price target on the stock. Wells Fargo & Company raised their price objective on shares of First Hawaiian from $18.00 to $20.00 and gave the stock an “underweight” rating in a report on Monday, January 29th. Finally, StockNews.com raised shares of First Hawaiian to a “sell” rating in a report on Friday, January 19th. Three analysts have rated the stock with a sell rating and one has assigned a hold rating to the stock. According to data from MarketBeat, First Hawaiian presently has an average rating of “Reduce” and an average target price of $21.75.

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.