- Huntington Bancshares‘ net interest margin for the 1st Quarter was 3.01%, which matches the estimated interest margin.
- The company reported Earnings Per Share (EPS) of 26 cents, a decline from 39 cents year-on-year.
- The adjusted EPS was 28 cents, compared to the 38 cents from the previous year, beating the estimate of 25 cents.
- The return on average assets was 0.89%, slightly lower than the 1.32% from the previous year but exceeding the estimate of 0.87%.
- While the return on average equity came in at 9.2%, indicating a decline from the previous year’s 14.6%.
- Net charge-offs increased by 61% year-on-year to $92 million, which was narrowly below the estimated $93.2 million.
- Provision for credit losses also increased to $107 million, a 26% increase year-on-year but lower than the estimated $110.5 million.
- Revenue came in at $1.77 billion, a decrease of 8.4% year-on-year but surpassing the estimate of $1.75 billion.
- The company’s efficiency ratio was 63.7%, an increase from 55.6% from the previous year and slightly lower than the estimated 64.7%.
- Analysts have given the company’s stocks 13 ‘buy’ ratings, 9 ‘holds’ and 1 ‘sell’ rating.
A look at Huntington Bancshares Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 4 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 4 | |
| OVERALL SMART SCORE | 3.8 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on Smartkarma Smart Scores, Huntington Bancshares Incorporated is well-positioned for the long term. With strong scores across various factors such as value, dividend, growth, and momentum, the company showcases a promising outlook. The high scores in value and dividend indicate solid fundamental strengths and potential for returns for investors. Additionally, the growth score suggests potential for expansion and enhanced performance in the future. While resilience scored slightly lower, the overall positive outlook based on the scores indicates a robust overall performance expected from Huntington Bancshares.
Huntington Bancshares Incorporated, a multi-state bank holding company, offers a comprehensive range of financial services through its subsidiaries. Providing a wide array of banking services, mortgage banking, investment management, and insurance programs, the company caters to both commercial and consumer clients. With Smartkarma Smart Scores pointing towards strengths in key areas like value and growth, Huntington Bancshares may be poised for sustained success and growth in the long term.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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