First Hawaiian Posts 3Q EPS of 52 Cents
FHB is trading near its 52-week low of $23.26 (8.9% above the low).
Summary
First Hawaiian reported third-quarter earnings per share of 52 cents, per Dow Jones Newswires, with net income of $63.7M as profit fell on a higher credit loss provision. Net interest income was $174.1M, the net interest margin was 3.30% and noninterest income came to $56.1M. The print lands while the bank is mid-flight on its $2 billion all-stock acquisition of TriCo Bancshares, with shareholder votes set for October 29 per the September 14 proxy. Balance-sheet quality and capital build matter here because the deal terms are already fixed at 67.1 million shares issued. Watch the October 29 shareholder vote on the TriCo deal.
At the time of this announcement, FHB was trading at $25.33 on NASDAQ in the Finance sector, with a market capitalization of approximately $3.2B. The 52-week trading range was $23.26 to $30.58. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.