Markets

Huntington (HBAN) Q4 Earnings Beat on High Revenues

Have you been eager to see how Huntington Bancshares IncorporatedHBAN performed in Q4 in comparison with the market expectations? Let's quickly scan through the key facts from this Ohio-based bank's earnings release this morning:

An Earnings Beat

Huntington Bancshares came out with earnings per share of 24 cents, beating the Zacks Consensus Estimate of 22 cents. Strong top line was primarily responsible for this earnings beat.

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 7 days.

Also, Huntington Bancshares has a decent earnings surprise history. Before posting earnings beat in Q4, the company delivered positive surprises in two of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 2.4% 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 Higher Than Expected

Huntington Bancshares posted revenues of $1.08 billion, which outpaced the Zacks Consensus Estimate of $1.05 billion. Moreover, it compared favorably with the year-ago number of $777 million.

Key Stats to Note:

  • Tangible book value per common share decreased 7% year over year to $6.41
  • Average earning assets recorded 40.8% jump
  • Provision for credit losses escalated significantly on a year-over-year basis

What Zacks Rank Says

The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Huntington Bancshares. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, 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!

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Huntington Bancshares Incorporated (HBAN): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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