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First Hawaiian Inc (FHB)
NASDAQ:FHB
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Earnings Data
Report Date
Jan 24, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.43Last Year’s EPS
$0.37Same Quarter Last Year
Moderate Sell
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 25, 2024
|% Change Since: 7.24%
|Next Earnings Date:Jan 24, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a stable financial performance with positive developments in deposit costs, credit stability, and capital levels. However, challenges in loan growth and increased classified assets were also highlighted. The overall sentiment leans towards stability with cautious optimism.Company Guidance
During the third quarter of 2024, First Hawaiian Inc. provided detailed financial guidance and economic insights. The statewide unemployment rate in Hawaii was 2.9%, compared to the national rate of 4.1%. Despite a 2.2% drop in visitor arrivals and a 2.3% decrease in spending compared to the previous year, Hawaii's economy showed resilience. The median sales price for single-family homes on Oahu increased by 6% to $1.1 million, while condo prices fell by 2.8% to $518,000. The bank's deposit balances remained stable, with costs rising by only 1 basis point. Unexpected loan payoffs resulted in a $119 million reduction in total loans, but credit quality remained strong. Noninterest income increased to $53.3 million, supported by higher credit and debit card fees, and BOLI income. The net interest margin (NIM) was up by 3 basis points, with net interest income at $156.7 million. The bank released $3.8 million of tax reserves, which had no impact on net income. The asset allowance for credit losses (ACL) increased by $3.2 million to $163.7 million. Looking forward, First Hawaiian plans to resume share repurchases in the fourth quarter due to strong capital levels.Stable Deposit Costs
Deposit balances flattened out, and deposit costs were up only 1 basis point from the second quarter.
Margin Expansion
Net interest income increased by $3.9 million quarter-over-quarter, with the margin up 3 basis points due to asset repricing and stable deposit costs.
Strong Capital Levels
The balance sheet remains well-capitalized with strong earnings and favorable AOCI change, allowing for resumption of share repurchases.
Solid Credit Performance
Credit risk metrics remained strong with increased classified assets, but potential for loss was extremely limited.
Controlled Noninterest Expenses
Noninterest expenses were up $4.1 million due to a tax reserve adjustment, but excluding this, expenses were flat.
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FHB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FHB Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 25, 2024 | $23.76 | $23.73 | -0.13% |
| Jul 26, 2024 | $24.60 | $25.56 | +3.90% |
| Apr 26, 2024 | $21.36 | $21.19 | -0.80% |
| Jan 26, 2024 | $20.66 | $21.31 | +3.15% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Hawaiian Inc (FHB) report earnings?
First Hawaiian Inc (FHB) is schdueled to report earning on Jan 24, 2025, TBA Not Confirmed.
What is First Hawaiian Inc (FHB) earnings time?
First Hawaiian Inc (FHB) earnings time is at Jan 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FHB EPS forecast?
FHB EPS forecast for the fiscal quarter 2024 (Q4) is $0.43.
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