Huntington Bancshares (HBAN - Free Report) reported $1.93 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 17.3%. EPS of $0.38 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of +1.53% over the Zacks Consensus Estimate of $1.9 billion. With the consensus EPS estimate being $0.37, the EPS surprise was +2.70%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 55.6% compared to the 56.44% average estimate based on six analysts.
- Average Balance - Total earning assets: $169.11 billion versus $166.59 billion estimated by six analysts on average.
- Net Interest Margin (FTE): 3.4% versus 3.47% estimated by six analysts on average.
- Net charge-off as a % of average loans and leases: 0.19% versus 0.22% estimated by five analysts on average.
- Card and payment processing income: $93 million compared to the $94.29 million average estimate based on six analysts.
- Mortgage Banking Income: $26 million versus the six-analyst average estimate of $22.93 million.
- Trust and investment management services: $62 million compared to the $60.86 million average estimate based on six analysts.
- Net Interest Income (FTE): $1.42 billion versus the six-analyst average estimate of $1.43 billion.
- Service charges on deposit accounts: $83 million versus $81.69 million estimated by six analysts on average.
- Total Non-Interest Income: $512 million versus the six-analyst average estimate of $472.51 million.
- Capital markets fees: $59 million versus $75.90 million estimated by five analysts on average.
- Insurance income: $34 million versus the five-analyst average estimate of $30.63 million.
View all Key Company Metrics for Huntington Bancshares here>>>Shares of Huntington Bancshares have returned +11.1% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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Huntington Bancshares (HBAN - Free Report) reported $1.93 billion in revenue for the quarter ended March 2023, representing a year-over-year increase of 17.3%. EPS of $0.38 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of +1.53% over the Zacks Consensus Estimate of $1.9 billion. With the consensus EPS estimate being $0.37, the EPS surprise was +2.70%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 55.6% compared to the 56.44% average estimate based on six analysts.
- Average Balance - Total earning assets: $169.11 billion versus $166.59 billion estimated by six analysts on average.
- Net Interest Margin (FTE): 3.4% versus 3.47% estimated by six analysts on average.
- Net charge-off as a % of average loans and leases: 0.19% versus 0.22% estimated by five analysts on average.
- Card and payment processing income: $93 million compared to the $94.29 million average estimate based on six analysts.
- Mortgage Banking Income: $26 million versus the six-analyst average estimate of $22.93 million.
- Trust and investment management services: $62 million compared to the $60.86 million average estimate based on six analysts.
- Net Interest Income (FTE): $1.42 billion versus the six-analyst average estimate of $1.43 billion.
- Service charges on deposit accounts: $83 million versus $81.69 million estimated by six analysts on average.
- Total Non-Interest Income: $512 million versus the six-analyst average estimate of $472.51 million.
- Capital markets fees: $59 million versus $75.90 million estimated by five analysts on average.
- Insurance income: $34 million versus the five-analyst average estimate of $30.63 million.
View all Key Company Metrics for Huntington Bancshares here>>>Shares of Huntington Bancshares have returned +11.1% over the past month versus the Zacks S&P 500 composite's +6.2% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on HBAN - FREE