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Have you been eager to see how Huntington Bancshares Incorporated (HBAN - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Ohio-based bank’s earnings release this morning:
In Line Earnings
Huntington Bancshares came out with adjusted earnings per share of 25 cents in line with the Zacks Consensus Estimate. The figure excludes the impact of FirstMerit acquisition-related net expenses. Higher revenues along with improves loans and deposits balances benefited the results.
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 seven days.
Also, Huntington Bancshares has a decent earnings surprise history. Before posting in line earnings in Q3, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 5.59% in the trailing four quarters.
Huntington Bancshares Incorporated Price and EPS Surprise
Huntington Bancshares posted revenues of $1.10 billion, which matched the Zacks Consensus Estimate. It compared favorably with the year-ago number of $938 million.
Key Stats to Note:
Net interest margin of 3.29% increased 11 basis points from the year-ago quarter
Total non-interest expenses came in at $680 million, down 4% from the year-ago quarter.
Total loans and leases rose 1.5% sequentially to $68.3 billion
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. It all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Huntington Bancshares earnings report!
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Huntington's (HBAN) Q3 Earnings & Revenues Meet Estimates
Have you been eager to see how Huntington Bancshares Incorporated (HBAN - Free Report) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Ohio-based bank’s earnings release this morning:
In Line Earnings
Huntington Bancshares came out with adjusted earnings per share of 25 cents in line with the Zacks Consensus Estimate. The figure excludes the impact of FirstMerit acquisition-related net expenses. Higher revenues along with improves loans and deposits balances benefited the results.
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 seven days.
Also, Huntington Bancshares has a decent earnings surprise history. Before posting in line earnings in Q3, the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 5.59% 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 As Expected
Huntington Bancshares posted revenues of $1.10 billion, which matched the Zacks Consensus Estimate. It compared favorably with the year-ago number of $938 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. 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.)
Check back later for our full write up on this Huntington Bancshares earnings report!
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>