Hawaiian banking company First Hawaiian (NASDAQ: FHB) will be announcing earnings results this Friday before the bell. Here’s what to expect.
First Hawaiian Bank met analysts’ revenue expectations last quarter, reporting revenues of $225.9 million, up 5.4% year on year. It was a mixed quarter for the company, with a narrow beat of analysts’ tangible book value per share 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 for active Edge members.
This quarter, the market is expecting First Hawaiian Bank’s revenue to grow 4.5% year on year, in line with the 3.5% 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 to stay the course heading into earnings. First Hawaiian Bank rarely misses Wall Street’s revenue estimates.
Looking at First Hawaiian Bank’s peers in the regional banks segment, some have already reported their Q1 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.2%, beating analysts’ expectations by 4.8%, and East West Bank reported revenues up 11.8%, topping estimates by 2.8%. OFG Bancorp traded up 7.5% following the results while East West Bank’s stock price was unchanged.
Read our full analysis of OFG Bancorp’s results here and East West Bank’s results here.
There has been positive sentiment among investors in the regional banks segment, with share prices up 7.5% on average over the last month. First Hawaiian Bank is up 9.1% during the same time and is heading into earnings with an average analyst price target of $26.89 (compared to the current share price of $26.77).
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