NASDAQ$FHB

First Hawaiian Inc · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Reported a solid first quarter with strong earnings, excellent credit quality, and capital growth.

First Hawaiian, Inc. reported a net income of $54.2 million, or $0.42 per diluted share, for the quarter ended March 31, 2024. The company saw a slight decrease in total loans and leases, and a decrease in total deposits. The net interest margin increased by 10 basis points to 2.91%.

  • Net income was $54.2 million, or $0.42 per diluted share.
  • Total loans and leases decreased by $33.3 million versus the prior quarter.
  • Total deposits decreased by $663.2 million versus the prior quarter.
  • Net interest margin increased 10 basis points to 2.91%.

Headline financials

Total Revenue

$206M

Previous: $216M-4.8%
EPS

$0.42

Previous: $0.52-19.2%
Efficiency Ratio

62.1%

Previous: 54.5%+14.1%
Net Interest Margin

2.9%

Previous: 3.1%-6.4%
Tier 1 Leverage Ratio

8.8%

Previous: 8.3%+6.5%
Common Equity Tier 1 Capital Ratio

12.6%

Previous: 12.0%+4.8%
Total Capital Ratio

13.8%

Previous: 13.1%+5.0%
Free Cash Flow

$54.2M

Previous: $66.8M-18.9%
Net Income

$54.2M

Previous: $66.8M-18.9%
Operating Income

$109M

Previous: $162M-32.7%
Gross Profit

$206M

Previous: $216M-4.8%
Cash & Equivalents

$1.27B

Previous: $866M+47.2%
Total Assets

$24.3B

Previous: $24.9B-2.4%
Stock-Based Comp

$3.24M

Previous: $2.32M+39.7%

Revenue & EPS history

First Hawaiian · Revenue · Quarterly

$206M

Q1 2024-4.8%vs Q1 2023
Beat estimate in 10 of 15 quarters(67%)
ActualEstimate

Revenue by segment

First Hawaiian · $53.6M total across 6 segments · Q4 2020

  • Credit and Debit Card Fees
    $15.6M
  • Other
    $9.96M
  • Trust and Investment Services Income
    $8.73M
  • Other Service Charges and Fees
    $8.4M
  • Service Charges on Deposit Accounts
    $6.77M
  • Bank-Owned Life Insurance
    $4.16M

Forward guidance

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect our current views with respect to, among other things, future events and our financial performance.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2024

Historical avgQ1 2024

+0.3%

Avg return

Earnings day

-0.3%

Avg return

5 days after

-0.2%

Avg return

30 days after

51%

23 / 45 earnings

Positive

+11.0%

Q1 2020

Best reaction

-9.1%

Q2 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.2%-0.1%+1.4%
Q4 2025-3.8%-1.6%-10.2%
Q3 2025+4.7%+3.3%+3.9%
Q2 2025+0.2%-1.8%+2.2%
Q1 2025+0.8%-1.5%+0.6%
Q4 2024+3.1%+4.7%+0.4%
Q3 2024+4.0%+4.8%+16.3%
Q2 2024+0.4%-0.3%-3.4%
Q1 2024-2.5%-2.4%-6.8%
Q4 2023+5.3%+0.4%-2.1%
Q3 2023-0.7%-0.7%+5.4%
Q2 2023-5.6%-6.5%-14.8%
Q1 2023-6.0%-12.2%-13.2%
Q4 2022+5.7%+7.9%+6.6%
Q3 2022-0.9%-1.9%+3.5%
Q2 2022+5.4%+5.2%+7.4%
Q1 2022-6.8%-11.5%-11.0%
Q4 2021-1.1%-1.1%+0.6%
Q3 2021-1.2%-7.4%-6.6%
Q2 2021+3.5%+3.4%+0.4%
Q1 2021-0.3%+1.3%+4.4%
Q4 2020-1.7%-6.2%+8.0%
Q3 2020+5.4%-2.4%+28.2%
Q2 2020-9.1%-5.8%-12.6%
Q1 2020+11.0%+12.0%-2.6%
Q4 2019+2.0%+1.9%-12.3%
Q3 2019-1.7%-1.1%+0.5%
Q2 2019+2.9%+1.7%-6.7%
Q1 2019+1.3%+2.3%-4.0%
Q4 2018+4.5%+7.2%+9.7%
Q3 2018+1.4%+5.9%+7.5%
Q2 2018+0.4%+0.9%+3.2%
Q1 2018-0.7%-2.5%+1.9%
Q4 2017-7.8%-9.3%-9.8%
Q3 2017-2.1%-1.8%-6.3%
Q2 2017-2.3%+0.1%-8.2%
Q1 2016-2.2%-1.6%-7.2%
Q1 2017-2.5%-3.5%-8.0%
Q4 2015-0.3%-2.1%-9.7%
Q4 2014-0.3%-2.1%-9.7%
Q4 2016+4.5%+3.8%-1.9%
Q3 2015+4.3%+7.1%+21.7%
Q3 2016+0.5%-0.5%+17.6%
Q2 2016+2.2%+1.0%+2.6%
Q2 2015+2.2%+1.0%+2.6%
Q1 2015

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