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Huntington Bancshares (HBAN) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended June 2024, Huntington Bancshares (HBAN - Free Report) reported revenue of $1.82 billion, down 1.9% over the same period last year. EPS came in at $0.30, compared to $0.35 in the year-ago quarter.
The reported revenue represents a surprise of +0.13% over the Zacks Consensus Estimate of $1.81 billion. With the consensus EPS estimate being $0.28, the EPS surprise was +7.14%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 60.8% versus the six-analyst average estimate of 61.8%.
Net Interest Margin (FTE): 3% versus 3% estimated by six analysts on average.
Average Balance - Total earning assets: $178.06 billion compared to the $177.30 billion average estimate based on six analysts.
Net charge-offs / Average total loans and leases: 0.3% versus 0.3% estimated by five analysts on average.
Total nonperforming assets: $780 million versus $750.15 million estimated by two analysts on average.
Total nonaccrual loans and leases: $733 million compared to the $737.90 million average estimate based on two analysts.
Wealth and asset management revenue: $90 million versus the six-analyst average estimate of $89.67 million.
Customer deposit and loan fees: $83 million versus the six-analyst average estimate of $79.91 million.
Payments and cash management revenue: $154 million versus the six-analyst average estimate of $153.03 million.
Leasing revenue: $19 million versus the six-analyst average estimate of $25.34 million.
Total Non-Interest Income: $491 million versus $493.79 million estimated by six analysts on average.
Capital markets and advisory fees: $73 million versus the six-analyst average estimate of $64.63 million.
Shares of Huntington Bancshares have returned +14.2% over the past month versus the Zacks S&P 500 composite's +1.1% 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) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended June 2024, Huntington Bancshares (HBAN - Free Report) reported revenue of $1.82 billion, down 1.9% over the same period last year. EPS came in at $0.30, compared to $0.35 in the year-ago quarter.
The reported revenue represents a surprise of +0.13% over the Zacks Consensus Estimate of $1.81 billion. With the consensus EPS estimate being $0.28, the EPS surprise was +7.14%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 60.8% versus the six-analyst average estimate of 61.8%.
- Net Interest Margin (FTE): 3% versus 3% estimated by six analysts on average.
- Average Balance - Total earning assets: $178.06 billion compared to the $177.30 billion average estimate based on six analysts.
- Net charge-offs / Average total loans and leases: 0.3% versus 0.3% estimated by five analysts on average.
- Total nonperforming assets: $780 million versus $750.15 million estimated by two analysts on average.
- Total nonaccrual loans and leases: $733 million compared to the $737.90 million average estimate based on two analysts.
- Wealth and asset management revenue: $90 million versus the six-analyst average estimate of $89.67 million.
- Customer deposit and loan fees: $83 million versus the six-analyst average estimate of $79.91 million.
- Payments and cash management revenue: $154 million versus the six-analyst average estimate of $153.03 million.
- Leasing revenue: $19 million versus the six-analyst average estimate of $25.34 million.
- Total Non-Interest Income: $491 million versus $493.79 million estimated by six analysts on average.
- Capital markets and advisory fees: $73 million versus the six-analyst average estimate of $64.63 million.
View all Key Company Metrics for Huntington Bancshares here>>>Shares of Huntington Bancshares have returned +14.2% over the past month versus the Zacks S&P 500 composite's +1.1% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.