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Huntington (HBAN) Q1 Earnings As Expected, Revenues Escalate
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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:
In Line Earnings
Huntington Bancshares came out with earnings per share of 28 cents, in line with the Zacks Consensus Estimate. Strong top line and stable expenses were positives.
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 Q1, the company delivered positive surprise in one of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.12% in the trailing four quarters.
Huntington Bancshares Incorporated Price and EPS Surprise
Huntington Bancshares posted revenues of $1.09 billion, which lagged the Zacks Consensus Estimate of $1.10 billion. Yet, it compared favorably with the year-ago number of $1.06 billion.
Key Stats to Note:
Net interest margin of 3.30% stable from the year-ago quarter
Average earning assets recorded 5% jump
Total loans and leases escalated 6.1% on a year-over-year basis to $71.2 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 (HBAN) Q1 Earnings As Expected, Revenues Escalate
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:
In Line Earnings
Huntington Bancshares came out with earnings per share of 28 cents, in line with the Zacks Consensus Estimate. Strong top line and stable expenses were positives.
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 Q1, the company delivered positive surprise in one of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.12% 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 Lower Than Expected
Huntington Bancshares posted revenues of $1.09 billion, which lagged the Zacks Consensus Estimate of $1.10 billion. Yet, it compared favorably with the year-ago number of $1.06 billion.
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!
Will You Make a Fortune on the Shift to Electric Cars?
Here's another stock idea to consider. Much like petroleum 150 years ago, lithium power may soon shake the world, creating millionaires and reshaping geo-politics. Soon electric vehicles (EVs) may be cheaper than gas guzzlers. Some are already reaching 265 miles on a single charge.
With battery prices plummeting and charging stations set to multiply, one company stands out as the #1 stock to buy according to Zacks research.
It's not the one you think.
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