Hawaiian banking company First Hawaiian (NASDAQ: FHB) will be reporting results this Friday before market hours. Here’s what investors should know.
First Hawaiian Bank beat analysts’ revenue expectations by 0.6% last quarter, reporting revenues of $211 million, up 2.5% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ net interest income estimates but EPS in line with analysts’ estimates.
Is First Hawaiian Bank a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting First Hawaiian Bank’s revenue to grow 4.1% year on year to $213 million, a reversal from the 1.3% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.49 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. First Hawaiian Bank has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 4.6% on average.
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. Popular delivered year-on-year revenue growth of 8.9%, beating analysts’ expectations by 3.5%, and City Holding reported revenues up 6.3%, topping estimates by 3%. City Holding traded up 7.5% following the results.
Read our full analysis of Popular’s results here and City Holding’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 7.3% on average over the last month. First Hawaiian Bank is up 1.2% during the same time and is heading into earnings with an average analyst price target of $25.93 (compared to the current share price of $24.76).
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