First Hawaiian, Inc. (NASDAQ:FHB) reported mixed results for the third quarter on Friday.
The company posted quarterly earnings of 52 cents per share which missed the analyst consensus estimate of 56 cents per share. The company reported quarterly sales of $230.227 million which beat the analyst consensus estimate of $229.619 million.
“I’m pleased with the solid earnings we delivered this quarter and the continued trust our customers place in us,” said Bob Harrison, Chairman, President and Chief Executive Officer. “Our deposit growth in a competitive market reflects the strength of those relationships, and our balance sheet is well positioned to benefit from rising interest rates. As we prepare for the Tri Counties Bank acquisition, we’re focused on building on that foundation and the growth opportunities ahead.”
First Hawaiian shares rose 0.8% to trade at $25.54 on Monday.
These analysts made changes to their price targets on First Hawaiian following earnings announcement.
- Piper Sandler analyst Matthew Clark maintained the stock with a Neutral and raised the price target from $27 to $28.
- JP Morgan analyst Anthony Elian maintained the stock with a Neutral and lowered the price target from $29 to $28.
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