NASDAQ$FHB

First Hawaiian Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

First Hawaiian's Q4 2019 financial results were reported, highlighted by strong loan growth, reduced deposit costs and excellent credit quality.

First Hawaiian, Inc. reported a strong fourth quarter with net income of $67.8 million, or $0.52 per diluted share, and core net income of $71.3 million, or $0.54 per diluted share. The company saw excellent profitability measures, loan growth, and reduced deposit costs, while maintaining excellent credit quality.

  • Net income was $67.8 million, or $0.52 per diluted share; core net income was $71.3 million, or $0.54 per diluted share.
  • Loans and leases grew by $368 million, or 2.9%.
  • Cost of deposits fell 10 basis points to 44 basis points.
  • The ratio of non-performing assets to total loans and leases and other real estate owned was 0.04%.

Headline financials

Total Revenue

$186M

Previous: $177M+5.2%
EPS (adj)

$0.54

Previous: $0.58-6.9%
Efficiency Ratio

48.9%

No prior period
Return on Average Total Assets

1.3%

No prior period
Return on Average Tangible Assets (Non-GAAP)

1.5%

No prior period
Return on Average Total Stockholders' Equity

10.2%

No prior period
Return on Average Tangible Stockholders' Equity (Non-GAAP)

17.2%

No prior period
Net Interest Margin

3.1%

No prior period
Tier 1 Leverage Ratio

8.8%

No prior period
Common Equity Tier 1 Capital Ratio

11.9%

No prior period
Total Capital Ratio

12.8%

No prior period
Net Income

$67.8M

Previous: $60M+13.1%
Operating Income

$91M

No prior period
Gross Profit

$178M

Previous: $170M+4.5%
Cash & Equivalents

$360M

Previous: $1B-64.1%
Total Assets

$20.2B

Previous: $20.7B-2.6%
Stock-Based Comp

$3.12M

Previous: $1.3M+139.7%

Revenue & EPS history

First Hawaiian · Revenue · Quarterly

$186M

Q4 2019+5.2%vs Q4 2018
Beat estimate in 11 of 16 quarters(69%)
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

No forward guidance was provided in the press release.

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 Q4 2019

Historical avgQ4 2019

+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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