Huntington Bancshares (NASDAQ:HBAN) Releases Quarterly Earnings Results, Meets Expectations

Huntington Bancshares (NASDAQ:HBAN) released its quarterly earnings results on Thursday. The bank reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39, FiscalAI reports. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $2.84 billion. Huntington Bancshares had a net margin of 16.63% and a return on equity of 11.42%. During the same quarter in the previous year, the business earned $0.34 earnings per share. Huntington Bancshares updated its FY 2026 guidance to 1.900-1.930 EPS.

Here are the key takeaways from Huntington Bancshares’ conference call:

• Huntington said it delivered an “exceptional quarter” with strong organic loan and deposit growth, expanding revenue and profitability, and a successful completion of the Cadence systems conversion. Management said the core franchise is now positioned to capture benefits from recent investments and partnerships.
• The Cadence conversion was completed quickly and smoothly, with deposits actually growing during and after the conversion weekend. Management highlighted this as evidence of strong execution, customer trust, and a successful integration playbook.
• Revenue momentum remained strong, with fee businesses performing especially well; value-added fee revenues rose sharply year over year, led by payments, wealth management, and capital markets. Management expects these fee streams to keep growing at a double-digit pace.
• The company narrowed its near-term NII outlook, saying it now expects NII to land at the low end or slightly below prior guidance due mainly to higher deposit costs and a more competitive funding environment. Even so, management expects NIM to improve in the second half as liquidity normalizes, fixed assets reprice, and Cadence deposit optimization progresses.
• Credit performance remained strong, with net charge-offs near the low end of guidance, criticized assets declining, and stress test results again among the best in the peer group. Huntington also reiterated its confidence in reaching its 2027 targets, including 18%-19% ROTCE and $1.90-$1.93 of EPS.

Huntington Bancshares Stock Performance

NASDAQ HBAN traded down $0.96 on Thursday, hitting $17.30. 31,875,464 shares of the company’s stock were exchanged, compared to its average volume of 27,565,262. The firm’s 50-day moving average price is $17.05 and its two-hundred day moving average price is $16.93. The firm has a market cap of $35.08 billion, a price-to-earnings ratio of 13.32, a P/E/G ratio of 0.81 and a beta of 0.93. Huntington Bancshares has a fifty-two week low of $14.89 and a fifty-two week high of $19.45. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.93 and a quick ratio of 0.92.

Analyst Ratings Changes

Several research firms have weighed in on HBAN. Barclays lowered Huntington Bancshares from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Wolfe Research reduced their target price on Huntington Bancshares from $21.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 1st. Stephens started coverage on Huntington Bancshares in a research report on Monday, June 15th. They issued an “equal weight” rating and a $19.00 target price for the company. UBS Group boosted their target price on Huntington Bancshares from $21.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Finally, Evercore restated an “outperform” rating and issued a $21.00 price objective on shares of Huntington Bancshares in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.25.

Insider Buying and Selling

In related news, EVP Marcy C. Hingst sold 10,568 shares of the business’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $18.00, for a total value of $190,224.00. Following the completion of the sale, the executive vice president owned 267,859 shares of the company’s stock, valued at approximately $4,821,462. The trade was a 3.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director James D. Rollins III sold 223,522 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $17.35, for a total value of $3,878,106.70. Following the sale, the director owned 612,155 shares in the company, valued at approximately $10,620,889.25. This represents a 26.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders acquired 33,500 shares of company stock valued at $617,542. 0.67% of the stock is owned by company insiders.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP lifted its stake in Huntington Bancshares by 4,265.5% in the 4th quarter. Wellington Management Group LLP now owns 70,083,841 shares of the bank’s stock valued at $1,215,955,000 after purchasing an additional 68,478,435 shares during the last quarter. Marshall Wace LLP boosted its stake in Huntington Bancshares by 2,458.7% in the fourth quarter. Marshall Wace LLP now owns 4,516,068 shares of the bank’s stock valued at $78,354,000 after acquiring an additional 4,339,571 shares during the last quarter. Renaissance Technologies LLC bought a new stake in Huntington Bancshares during the 4th quarter valued at $75,236,000. Invesco Ltd. increased its stake in Huntington Bancshares by 6.6% in the 4th quarter. Invesco Ltd. now owns 62,971,849 shares of the bank’s stock worth $1,092,562,000 after acquiring an additional 3,908,927 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Huntington Bancshares by 40.5% during the 4th quarter. JPMorgan Chase & Co. now owns 12,978,892 shares of the bank’s stock valued at $225,184,000 after purchasing an additional 3,740,750 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.