Huntington Bancshares (NASDAQ:HBAN) Issues Earnings Results

Huntington Bancshares (NASDAQ:HBAN) issued its quarterly earnings data on Thursday. The bank reported $0.38 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.38, FiscalAI reports. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.82 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%. During the same period in the prior year, the business posted $0.41 earnings per share.

Here are the key takeaways from Huntington Bancshares’ conference call:

• Management reaffirmed its 2027 EPS outlook of $1.75–$1.83, supported by expected loan growth, stable net interest margin, fee-income growth, expense synergies, and share repurchases.
• Third-quarter net interest income rose 0.9% sequentially and 37% year over year to approximately $2.1 billion, while net interest margin expanded four basis points to 3.25%; management expects NIM to remain broadly stable in the fourth quarter.
• Fee businesses continued to outperform, with value-added fee revenue up more than 15% year over year and full-year fee growth now expected at approximately 31%; treasury management, capital markets, wealth, and payments were key contributors.
• Cadence and Veritex partnerships are delivering planned cost synergies and revenue synergies ahead of initial expectations, while Huntington continues to expand in Texas and the South; the company also repurchased approximately $460 million of stock year to date.
• Management cited heightened competition and pricing pressure, particularly in deposits, commercial real estate, auto, and residential mortgage lending, prompting it to reduce production where risk-adjusted returns are unattractive; deposit beta is expected to remain elevated at roughly 50%–60%.

Huntington Bancshares Trading Up 0.4%

Shares of NASDAQ:HBAN traded up $0.06 during trading hours on Thursday, hitting $15.78. 6,936,260 shares of the company’s stock traded hands, compared to its average volume of 27,166,100. The firm has a market capitalization of $31.89 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 0.99 and a beta of 0.95. The business has a fifty day moving average price of $16.20 and a 200-day moving average price of $16.66. Huntington Bancshares has a 1 year low of $14.82 and a 1 year high of $19.45. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HBAN. TD Cowen began coverage on Huntington Bancshares in a report on Thursday, October 8th. They issued a “buy” rating and a $18.00 target price for the company. Weiss Ratings restated a “buy (b)” rating on shares of Huntington Bancshares in a report on Friday, October 2nd. Wells Fargo & Company decreased their price target on Huntington Bancshares from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, September 16th. JPMorgan Chase & Co. lowered their price target on Huntington Bancshares from $19.50 to $17.50 and set an “overweight” rating for the company in a research report on Friday, October 2nd. Finally, Jefferies Financial Group lowered their price target on Huntington Bancshares from $18.00 to $17.00 and set a “hold” rating for the company in a research report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, six have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.19.

Insider Buying and Selling at Huntington Bancshares

In related news, insider Kendall Kowalski sold 27,971 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following the completion of the sale, the insider directly owned 70,025 shares of the company’s stock, valued at approximately $1,204,430. This trade represents a 28.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.67% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.