2024-03-10 21:48:37 ET
Summary
- First Hawaiian stock has done well since my last update in November, lifted by gains in the wider regional bank space as certain headwinds began to ease for the industry.
- The near-term outlook looks muted on the earnings front, with net interest income likely to grow off the Q4 base but offset by growth in operating costs.
- While earnings growth will be a challenge for many banks, it's also hard to make a broader positive case based on valuations and capital returns potential right now.
Shares of First Hawaiian ( FHB ) have performed well since my last update back in November , returning around 19% in that time, as optimism over moderating headwinds has helped lift the entire regional bank sector....
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First Hawaiian: Modest Cost Pressure Adds To Underwhelming Outlook