Raymond James Financial Inc. Acquires Shares of 1,236,474 First Hawaiian, Inc. (NASDAQ:FHB)

Raymond James Financial Inc. purchased a new stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,236,474 shares of the bank's stock, valued at approximately $32,086,000. Raymond James Financial Inc. owned about 0.97% of First Hawaiian as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in First Hawaiian during the 3rd quarter worth about $3,736,000. FMR LLC grew its position in shares of First Hawaiian by 20.3% during the 3rd quarter. FMR LLC now owns 913,400 shares of the bank's stock worth $21,145,000 after buying an additional 154,136 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of First Hawaiian by 1.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 10,624,759 shares of the bank's stock worth $245,963,000 after buying an additional 122,599 shares during the period. Jane Street Group LLC grew its position in shares of First Hawaiian by 91.4% during the 3rd quarter. Jane Street Group LLC now owns 176,121 shares of the bank's stock worth $4,077,000 after buying an additional 84,120 shares during the period. Finally, Los Angeles Capital Management LLC grew its position in shares of First Hawaiian by 398.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 95,944 shares of the bank's stock worth $2,221,000 after buying an additional 76,710 shares during the period. 97.63% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FHB. Piper Sandler boosted their price objective on First Hawaiian from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Barclays upped their price target on First Hawaiian from $28.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on First Hawaiian from $27.00 to $29.00 and gave the stock an "underweight" rating in a research report on Monday, February 3rd. Wells Fargo & Company upped their price target on First Hawaiian from $22.00 to $24.00 and gave the stock an "underweight" rating in a research report on Monday, February 3rd. Finally, Stephens assumed coverage on First Hawaiian in a research report on Wednesday, November 27th. They set an "equal weight" rating and a $30.00 price target for the company. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat.com, First Hawaiian has an average rating of "Hold" and a consensus price target of $29.00.

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First Hawaiian Trading Down 1.5 %

FHB opened at $24.15 on Friday. First Hawaiian, Inc. has a 1-year low of $19.48 and a 1-year high of $28.80. The stock's fifty day simple moving average is $26.40 and its 200 day simple moving average is $25.57. The stock has a market cap of $3.05 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 3.28 and a beta of 0.94.

First Hawaiian (NASDAQ:FHB - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The bank reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.01. First Hawaiian had a return on equity of 8.91% and a net margin of 19.74%. During the same period last year, the business posted $0.37 EPS. Equities analysts forecast that First Hawaiian, Inc. will post 1.95 earnings per share for the current year.

First Hawaiian Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Friday, February 14th. First Hawaiian's dividend payout ratio is 58.10%.

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.

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