119,509 Shares in First Hawaiian, Inc. $FHB Purchased by Ruffer LLP

Ruffer LLP bought a new position in First Hawaiian, Inc. (NASDAQ:FHB) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 119,509 shares of the bank’s stock, valued at approximately $3,028,000. Ruffer LLP owned approximately 0.10% of First Hawaiian at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Elo Mutual Pension Insurance Co lifted its position in shares of First Hawaiian by 94.2% in the third quarter. Elo Mutual Pension Insurance Co now owns 51,139 shares of the bank’s stock worth $1,270,000 after buying an additional 24,805 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of First Hawaiian by 840.1% in the third quarter. Nisa Investment Advisors LLC now owns 92,268 shares of the bank’s stock worth $2,291,000 after buying an additional 82,453 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of First Hawaiian by 409.2% in the fourth quarter. SG Americas Securities LLC now owns 89,506 shares of the bank’s stock worth $2,265,000 after buying an additional 71,927 shares in the last quarter. AlphaQuest LLC lifted its position 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 buying an additional 166,302 shares in the last quarter. Finally, CWM LLC lifted its position in shares of First Hawaiian by 268.1% in the third quarter. CWM LLC now owns 59,182 shares of the bank’s stock worth $1,469,000 after buying an additional 43,103 shares in the last quarter. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

First Hawaiian Stock Performance

FHB opened at $26.87 on Wednesday. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 2.84 and a beta of 0.71. The stock’s 50 day moving average price is $25.28 and its 200-day moving average price is $25.42. First Hawaiian, Inc. has a one year low of $22.43 and a one year high of $28.35.

First Hawaiian (NASDAQ:FHB) last released its earnings results on Friday, January 30th. The bank reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. The firm had revenue of $225.85 million for the quarter, compared to analysts’ expectations of $225.33 million. First Hawaiian had a return on equity of 10.19% and a net margin of 23.65%.During the same quarter in the prior year, the firm posted $0.41 earnings per share. As a group, analysts predict that First Hawaiian, Inc. will post 2.23 earnings per share for the current fiscal year.

First Hawaiian Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Friday, February 13th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was 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 currently 47.27%.

Analysts Set New Price Targets

A number of research firms recently commented on FHB. Piper Sandler decreased their target price on First Hawaiian from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Wall Street Zen raised First Hawaiian from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. The Goldman Sachs Group set a $27.50 price objective on First Hawaiian and gave the stock a “sell” rating in a research note on Tuesday, January 6th. Wells Fargo & Company boosted their price objective on First Hawaiian from $24.00 to $26.00 and gave the stock an “underweight” rating in a research note on Monday, March 30th. Finally, TD Cowen reissued a “hold” rating on shares of First Hawaiian in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, First Hawaiian currently has a consensus rating of “Reduce” and an average price target of $26.93.

Insider Activity at First Hawaiian

In other news, Director Craig Scott Wo sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $27.21, for a total transaction of $40,815.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

First Hawaiian Company 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.