Here's What Key Metrics Tell Us About Huntington Bancshares (HBAN) Q3 Earnings
For the quarter ended September 2023, Huntington Bancshares (HBAN) reported revenue of $1.89 billion, down 1.2% over the same period last year. EPS came in at $0.36, compared to $0.39 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.82 billion, representing a surprise of +3.56%. The company delivered an EPS surprise of +12.50%, with the consensus EPS estimate being $0.32.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Huntington Bancshares performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 57% compared to the 58.2% average estimate based on six analysts.
Net Interest Margin (FTE): 3.2% compared to the 3% average estimate based on six analysts.
Average Balance - Total earning assets: $170.95 billion versus $174.33 billion estimated by six analysts on average.
Net charge-off as a % of average loans and leases: 0.2% versus the five-analyst average estimate of 0.3%.
Trust and investment management services: $62 million versus $67.24 million estimated by six analysts on average.
Mortgage Banking Income: $27 million versus $33.26 million estimated by six analysts on average.
Total Non-Interest Income: $509 million versus the six-analyst average estimate of $485.70 million.
Service charges on deposit accounts: $97 million versus $85.22 million estimated by six analysts on average.
Net Interest Income (FTE): $1.38 billion compared to the $1.34 billion average estimate based on six analysts.
Card and payment processing income: $103 million compared to the $100.28 million average estimate based on six analysts.
Insurance income: $31 million compared to the $30.95 million average estimate based on five analysts.
Capital markets fees: $49 million compared to the $60.51 million average estimate based on five analysts.
View all Key Company Metrics for Huntington Bancshares here>>>
Shares of Huntington Bancshares have returned -3.5% over the past month versus the Zacks S&P 500 composite's -3.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Huntington Bancshares Incorporated (HBAN) : Free Stock Analysis Report
