Huntington Bancshares (NASDAQ:HBAN) Issues Quarterly Earnings Results, Meets Estimates

Huntington Bancshares (NASDAQ:HBAN) announced its earnings results on Thursday. The bank reported $0.38 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.38, FiscalAI reports. Huntington Bancshares had a return on equity of 10.93% and a net margin of 16.28%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the company posted $0.41 EPS.

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 Stock Performance

NASDAQ HBAN opened at $15.73 on Tuesday. The company has a market capitalization of $31.78 billion, a PE ratio of 13.00, a P/E/G ratio of 1.00 and a beta of 0.95. The company has a fifty day moving average of $16.09 and a 200 day moving average of $16.75. 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 0.59, a current ratio of 0.91 and a quick ratio of 0.91.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 18th will be given a dividend of $0.1550 per share. The ex-dividend date is Friday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.9%. Huntington Bancshares’s payout ratio is currently 51.24%.

Analyst Ratings Changes

HBAN has been the topic of a number of research analyst reports. Morgan Stanley restated an “equal weight” rating and set a $19.00 price target (down from $21.00) on shares of Huntington Bancshares in a research note on Friday, July 24th. Wells Fargo & Company lowered their price target on Huntington Bancshares from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Friday. Citigroup dropped their price target on Huntington Bancshares from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Monday. TD Cowen initiated coverage on Huntington Bancshares in a report on Thursday, October 8th. They issued a “buy” rating and a $18.00 price objective on the stock. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.00.

Insider Buying and Selling

In other Huntington Bancshares news, insider Kendall Kowalski sold 27,971 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $17.20, for a total transaction of $481,101.20. Following 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.67% of the company’s stock.

About Huntington Bancshares

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.