Hawaiian banking company First Hawaiian (NASDAQ: FHB) will be reporting results tomorrow before the bell. Here’s what to expect.
First Hawaiian Bank beat analysts’ revenue expectations last quarter, reporting revenues of $228.8 million, up 5.2% year on year. It was a slower quarter for the company, with a slight miss of analysts’ net interest income estimates and 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 1% year on year, slowing from the 7.8% 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 rarely misses Wall Street’s revenue estimates.
Looking at First Hawaiian Bank’s peers in the regional banks segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Amalgamated Financial delivered year-on-year revenue growth of 17.7%, beating analysts’ expectations by 4.4%, and Washington Trust Bancorp reported revenues up 15%, topping estimates by 4.1%. Washington Trust Bancorp traded up 4% following the results.
Read our full analysis of Amalgamated Financial’s results here and Washington Trust Bancorp’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices flat over the last month. First Hawaiian Bank is up 4.4% during the same time and is heading into earnings with an average analyst price target of $29.11 (compared to the current share price of $25.87).
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