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Hawaiian banking company First Hawaiian (NASDAQ:FHB) will be reporting results this Friday before the bell. Here’s what investors should know.
First Hawaiian Bank met analysts’ revenue expectations last quarter, reporting revenues of $220.3 million, up 4.4% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ net interest income estimates but a narrow beat of analysts’ EPS estimates.
Is First Hawaiian Bank a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting First Hawaiian Bank’s revenue to grow 4.6% year on year, slowing from the 7.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. First Hawaiian Bank has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at First Hawaiian Bank’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and BOK Financial reported revenues up 10.1%, topping estimates by 2.8%. OFG Bancorp traded up 4.1% following the results while BOK Financial’s stock price was unchanged.
Read our full analysis of OFG Bancorp’s results here and BOK Financial’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 2.7% on average over the last month. First Hawaiian Bank’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $30.11 (compared to the current share price of $28.81).
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