NASDAQ$FHB

First Hawaiian Inc · Q3 2023 earnings

Q3 2023 earnings · · Investor relations

Briefing

Reported strong third quarter results with stable loan balances, increased consumer and commercial deposits, and excellent credit quality.

First Hawaiian, Inc. reported a net income of $58.2 million, or $0.46 per diluted share for Q3 2023. Total deposits increased by $433.3 million, while total loans and leases decreased slightly by $30.5 million. The net interest margin was 2.86%.

  • Net income of $58.2 million, or $0.46 per diluted share
  • Total loans and leases decreased $30.5 million versus prior quarter
  • Total deposits increased $433.3 million versus prior quarter
  • Net interest margin decreased 5 basis points to 2.86%

Headline financials

Total Revenue

$203M

Previous: $209M-2.6%
EPS (adj)

$0.46

Previous: $0.54-14.8%
Efficiency Ratio

58.3%

Previous: 54.0%+8.0%
Net Interest Margin

2.9%

Previous: 2.9%-2.4%
Tier 1 Leverage Ratio

8.4%

Previous: 7.8%+8.6%
Common Equity Tier 1 Capital Ratio

12.2%

Previous: 11.8%+3.6%
Total Capital Ratio

13.4%

Previous: 12.9%+3.6%
Free Cash Flow

$58.2M

Previous: $69M-15.6%
Net Income

$58.2M

Previous: $69M-15.6%
Operating Income

$113M

Previous: $184M-38.5%
Gross Profit

$203M

Previous: $205M-1.1%
Cash & Equivalents

$1.21B

Previous: $291M+316.5%
Total Assets

$24.9B

Previous: $24.9B+0.2%
Stock-Based Comp

$2.43M

Previous: $1.97M+23.4%

Revenue & EPS history

First Hawaiian · Revenue · Quarterly

$203M

Q3 2023-2.6%vs Q3 2022
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 Q3 2023

Historical avgQ3 2023

+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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