Q2 Earnings Highs And Lows: First Hawaiian Bank (NASDAQ:FHB) Vs The Rest Of The Regional Banks Stocks

Piper Sandler upgraded Alerus Financial (ALRS), Horizon Bancorp (HBNC), and Independent Bank (IBCP) to Overweight, citing growth prospects. First Busey (BUSE) and Equity Bancshares (EQBK) were downgraded to Neutral. Stocks rose 0.9% to 2.5% in midday trading.

Analysts downgraded several companies: Foghorn Therapeutics (FHTX) to Neutral, First Busey (BUSE) to Neutral with a $30 target, AST SpaceMobile (ASTS) to Neutral with a $65 target, AtriCure (ATRC) to Hold with a $57 target, and Equity Bancshares (EQBK) to Neutral with a $52 target. ASTS closed at $57.04 on Thursday.

JPMorgan upgraded First Hawaiian (FHB) to Neutral, lowering its price target to $29.00. The bank's floating-rate loans and low deposit costs position it well in a higher rate environment. First Hawaiian reported better-than-expected Q2 2026 earnings and revenue, with improved net interest income and margin. The bank expects 3-4% loan growth and is progressing with merger plans with TriCo Bancshares.

Republic Bancorp (RBCAA) stock rose 5.2% post-earnings, trading at $52.59. Banc of California (BANC) reported $285.7M revenue, missing estimates, and fell 12.1% to $18.63. Preferred Bank (PFBC) reported $73.47M revenue, in line with expectations, and dropped 3.3% to $102.49. The Bancorp (TBBK) reported $163.6M revenue, missing estimates, and fell 12.4% to $56.77.

Banc of California (BANC) reported Q2 2026 results during an earnings call, citing a net loss available to common of $251.3 million ($-1.61/share) tied to nonrecurring balance sheet restructuring. The company sold $2.3 billion of lower-yield securities and $827 million of select loans to held-for-sale, retired $385 million of subordinated debt, and guided NIM to 3.30% to 3.40% by Q4.

Tri Counties Bank and First Hawaiian Bank proposed a $2 billion, all-stock merger to expand lending and services while keeping local decision-making. The combined company would have about $34 billion in assets. Tri Counties would keep its California brand. Closing is expected by end-2026, pending regulators. Tri Counties has $356.3M in deposits.