Citigroup Inc. Has $2.09 Million Position in First Hawaiian, Inc. (NASDAQ:FHB)

Citigroup Inc. increased its stake in shares of First Hawaiian, Inc. (NASDAQ:FHB – Get Rating) by 17.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 80,302 shares of the bank’s stock after buying an additional 12,127 shares during the quarter. Citigroup Inc.’s holdings in First Hawaiian were worth $2,091,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FHB. Orion Portfolio Solutions LLC bought a new position in First Hawaiian during the third quarter valued at approximately $383,000. Jupiter Asset Management Ltd. raised its position in shares of First Hawaiian by 1,219.8% in the third quarter. Jupiter Asset Management Ltd. now owns 201,692 shares of the bank’s stock valued at $4,967,000 after purchasing an additional 186,410 shares during the period. Abundance Wealth Counselors raised its position in shares of First Hawaiian by 3.9% in the fourth quarter. Abundance Wealth Counselors now owns 16,880 shares of the bank’s stock valued at $440,000 after purchasing an additional 634 shares during the period. Seven Post Investment Office LP bought a new position in shares of First Hawaiian in the fourth quarter valued at approximately $541,000. Finally, Toronto Dominion Bank bought a new position in shares of First Hawaiian in the third quarter valued at approximately $526,000. 97.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other First Hawaiian news, CEO Robert S. Harrison purchased 23,500 shares of the firm’s stock in a transaction on Thursday, March 16th. The shares were purchased at an average price of $21.61 per share, for a total transaction of $507,835.00. Following the completion of the purchase, the chief executive officer now directly owns 350,449 shares of the company’s stock, valued at $7,573,202.89. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.52% of the company’s stock.

First Hawaiian Trading Down 1.3 %

Shares of FHB stock opened at $17.12 on Thursday. First Hawaiian, Inc. has a 1 year low of $15.08 and a 1 year high of $28.28. The firm’s fifty day simple moving average is $19.11 and its 200 day simple moving average is $23.59. The firm has a market capitalization of $2.18 billion, a P/E ratio of 8.00, a price-to-earnings-growth ratio of 0.27 and a beta of 1.02. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.21.

First Hawaiian (NASDAQ:FHB – Get Rating) last posted its quarterly earnings results on Friday, April 28th. The bank reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). First Hawaiian had a return on equity of 12.14% and a net margin of 29.63%. The business had revenue of $216.27 million for the quarter, compared to analyst estimates of $190.28 million. During the same quarter in the prior year, the firm earned $0.45 EPS. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. As a group, sell-side analysts predict that First Hawaiian, Inc. will post 2.03 EPS for the current year.

First Hawaiian Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Shareholders of record on Monday, May 22nd will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, May 19th. This represents a $1.04 dividend on an annualized basis and a yield of 6.07%. First Hawaiian’s dividend payout ratio is currently 48.60%.

Analysts Set New Price Targets

FHB has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods dropped their price target on shares of First Hawaiian from $32.00 to $26.00 and set a “market perform” rating on the stock in a research report on Thursday, April 6th. Wells Fargo & Company dropped their price target on shares of First Hawaiian from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 5th. The Goldman Sachs Group dropped their price target on shares of First Hawaiian from $27.00 to $22.00 and set a “sell” rating on the stock in a research report on Thursday, March 30th. Piper Sandler dropped their target price on shares of First Hawaiian from $22.00 to $21.00 in a research report on Monday, May 1st. Finally, StockNews.com assumed coverage on shares of First Hawaiian in a research report on Thursday, May 18th. They set a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $23.67.

First Hawaiian Profile

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First Hawaiian, Inc is a bank holding company engaged in the provision of banking services to consumer and commercial customers, including deposit products, lending services, and wealth management and trust services through its subsidiary, First Hawaiian Bank. It operates through the following business segments: Retail Banking, Commercial Banking, and Treasury and Other.