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Huntington (HBAN) Q1 Earnings Miss on High Expenses
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Have you been eager to see how Huntington Bancshares Incorporated (HBAN - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Ohio-based bank’s earnings release this morning:
An Earnings Miss
Huntington Bancshares came out with earnings per share of 21 cents, missing the Zacks Consensus Estimate by a penny. High expenses were primarily responsible for this earnings miss.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Huntington Bancshares remained stable prior to the earnings release. The Zacks Consensus Estimate has remained unchanged over the last 7 days.
Also, Huntington Bancshares has a decent earnings surprise history. Before posting earnings beat in Q1, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.5% in the trailing four quarters.
Huntington Bancshares Incorporated Price and EPS Surprise
Huntington Bancshares posted revenues of $1.05 billion, in line with the Zacks Consensus Estimate. Moreover, it compared favorably with the year-ago number of $754 million.
Key Stats to Note:
Tangible book value per common share decreased 8% year over year to $6.55
Average earning assets recorded 38% jump
Noninterest expenses escalated 44% on a year-over-year basis to $216 million
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Huntington Bancshares. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look unfavorable, it all depends on what sense the just-released report makes to the analysts.
Following the earnings release Huntington Bancshares shares were down 1.1% in the pre-trading session. This is in line with what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have not considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this Huntington Bancshares earnings report!
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Huntington (HBAN) Q1 Earnings Miss on High Expenses
Have you been eager to see how Huntington Bancshares Incorporated (HBAN - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this Ohio-based bank’s earnings release this morning:
An Earnings Miss
Huntington Bancshares came out with earnings per share of 21 cents, missing the Zacks Consensus Estimate by a penny. High expenses were primarily responsible for this earnings miss.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Huntington Bancshares remained stable prior to the earnings release. The Zacks Consensus Estimate has remained unchanged over the last 7 days.
Also, Huntington Bancshares has a decent earnings surprise history. Before posting earnings beat in Q1, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.5% in the trailing four quarters.
Huntington Bancshares Incorporated Price and EPS Surprise
Huntington Bancshares Incorporated Price and EPS Surprise | Huntington Bancshares Incorporated Quote
Revenue Came In Higher Than Expected
Huntington Bancshares posted revenues of $1.05 billion, in line with the Zacks Consensus Estimate. Moreover, it compared favorably with the year-ago number of $754 million.
Key Stats to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Huntington Bancshares. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look unfavorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
How the Market Reacted So Far
Following the earnings release Huntington Bancshares shares were down 1.1% in the pre-trading session. This is in line with what the stock witnessed in the prior-day’s session. Clearly, the initial reaction shows that the investors have not considered the results in their favor. However, the full-session’s price movement may indicate a different picture.
Check back later for our full write up on this Huntington Bancshares earnings report!
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure.
See these buy recommendations now >>