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Huntington Bancshares (HBAN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2023, Huntington Bancshares (HBAN - Free Report) reported revenue of $1.85 billion, up 5.7% over the same period last year. EPS came in at $0.35, compared to $0.36 in the year-ago quarter.
The reported revenue represents a surprise of +0.85% over the Zacks Consensus Estimate of $1.84 billion. With the consensus EPS estimate being $0.34, the EPS surprise was +2.94%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Huntington Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 55.9% versus 57.23% estimated by six analysts on average.
Average Balance - Total earning assets: $174.91 billion versus $171.35 billion estimated by six analysts on average.
Net Interest Margin (FTE): 3.11% versus the six-analyst average estimate of 3.22%.
Net charge-off as a % of average loans and leases: 0.16% versus the five-analyst average estimate of 0.25%.
Card and payment processing income: $102 million versus $96.75 million estimated by six analysts on average.
Mortgage Banking Income: $33 million versus the six-analyst average estimate of $31.23 million.
Trust and investment management services: $68 million versus the six-analyst average estimate of $62.76 million.
Net Interest Income (FTE): $1.36 billion versus $1.37 billion estimated by six analysts on average.
Service charges on deposit accounts: $87 million versus the six-analyst average estimate of $84.22 million.
Total Non-Interest Income: $495 million compared to the $476.63 million average estimate based on six analysts.
Capital markets fees: $57 million versus the five-analyst average estimate of $62.34 million.
Insurance income: $30 million versus the five-analyst average estimate of $34.25 million.
Shares of Huntington Bancshares have returned +15% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Huntington Bancshares (HBAN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Huntington Bancshares (HBAN - Free Report) reported revenue of $1.85 billion, up 5.7% over the same period last year. EPS came in at $0.35, compared to $0.36 in the year-ago quarter.
The reported revenue represents a surprise of +0.85% over the Zacks Consensus Estimate of $1.84 billion. With the consensus EPS estimate being $0.34, the EPS surprise was +2.94%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Huntington Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 55.9% versus 57.23% estimated by six analysts on average.
- Average Balance - Total earning assets: $174.91 billion versus $171.35 billion estimated by six analysts on average.
- Net Interest Margin (FTE): 3.11% versus the six-analyst average estimate of 3.22%.
- Net charge-off as a % of average loans and leases: 0.16% versus the five-analyst average estimate of 0.25%.
- Card and payment processing income: $102 million versus $96.75 million estimated by six analysts on average.
- Mortgage Banking Income: $33 million versus the six-analyst average estimate of $31.23 million.
- Trust and investment management services: $68 million versus the six-analyst average estimate of $62.76 million.
- Net Interest Income (FTE): $1.36 billion versus $1.37 billion estimated by six analysts on average.
- Service charges on deposit accounts: $87 million versus the six-analyst average estimate of $84.22 million.
- Total Non-Interest Income: $495 million compared to the $476.63 million average estimate based on six analysts.
- Capital markets fees: $57 million versus the five-analyst average estimate of $62.34 million.
- Insurance income: $30 million versus the five-analyst average estimate of $34.25 million.
View all Key Company Metrics for Huntington Bancshares here>>>Shares of Huntington Bancshares have returned +15% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.