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

Raymond James Financial Inc. acquired a new stake in First Hawaiian, Inc. (NASDAQ:FHB - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,236,474 shares of the bank's stock, valued at approximately $32,086,000. Raymond James Financial Inc. owned approximately 0.97% of First Hawaiian as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Jones Financial Companies Lllp purchased a new position in First Hawaiian in the 4th quarter valued at about $36,000. Blue Trust Inc. raised its position in shares of First Hawaiian by 49.2% in the fourth quarter. Blue Trust Inc. now owns 2,742 shares of the bank's stock valued at $71,000 after buying an additional 904 shares during the last quarter. Global Retirement Partners LLC lifted its stake in shares of First Hawaiian by 32.4% during the fourth quarter. Global Retirement Partners LLC now owns 2,833 shares of the bank's stock valued at $74,000 after buying an additional 693 shares during the period. GAMMA Investing LLC boosted its position in First Hawaiian by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 3,624 shares of the bank's stock worth $94,000 after acquiring an additional 461 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in First Hawaiian by 280.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 3,980 shares of the bank's stock worth $103,000 after acquiring an additional 2,934 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Stock Performance

Shares of NASDAQ:FHB traded up $0.83 during trading on Tuesday, reaching $23.29. 1,064,261 shares of the stock were exchanged, compared to its average volume of 720,286. First Hawaiian, Inc. has a 12-month low of $19.48 and a 12-month high of $28.80. The firm's 50-day moving average price is $24.46 and its 200 day moving average price is $25.54. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 13.01, a price-to-earnings-growth ratio of 3.28 and a beta of 0.77.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its quarterly earnings data on Friday, January 31st. The bank reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. First Hawaiian had a net margin of 19.74% and a return on equity of 8.91%. During the same quarter in the prior year, the company earned $0.37 earnings per share. As a group, equities research analysts forecast that First Hawaiian, Inc. will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Shareholders of record on Friday, February 14th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 4.47%. The ex-dividend date was Friday, February 14th. First Hawaiian's dividend payout ratio (DPR) is presently 58.10%.

Analyst Ratings Changes

A number of research analysts have weighed in on FHB shares. Wells Fargo & Company reduced their price target on First Hawaiian from $24.00 to $22.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. increased their target price on First Hawaiian from $27.00 to $29.00 and gave the stock an "underweight" rating in a research report on Monday, February 3rd. The Goldman Sachs Group lifted their price target on First Hawaiian from $26.00 to $29.00 and gave the company a "sell" rating in a report on Monday, February 3rd. Barclays cut their price objective on shares of First Hawaiian from $30.00 to $27.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 8th. Finally, Piper Sandler upped their price target on shares of First Hawaiian from $28.00 to $30.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, First Hawaiian currently has an average rating of "Hold" and a consensus price target of $28.29.

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.