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Huntington Bancshares (HBAN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2024, Huntington Bancshares (HBAN - Free Report) reported revenue of $1.77 billion, down 8.5% over the same period last year. EPS came in at $0.28, compared to $0.38 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.74 billion, representing a surprise of +1.49%. The company delivered an EPS surprise of +12.00%, with the consensus EPS estimate being $0.25.
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: 63.7% versus 64.4% estimated by six analysts on average.
Net Interest Margin (FTE): 3% versus the six-analyst average estimate of 3%.
Average Balance - Total earning assets: $173.76 billion versus the six-analyst average estimate of $173.17 billion.
Net charge-offs / Average total loans and leases: 0.3% compared to the 0.3% average estimate based on five analysts.
Total nonperforming assets: $738 million versus $710.93 million estimated by two analysts on average.
Total nonaccrual loans and leases: $716 million compared to the $687.18 million average estimate based on two analysts.
Total Non-Interest Income: $467 million versus the six-analyst average estimate of $456.96 million.
Customer deposit and loan fees: $77 million compared to the $76.70 million average estimate based on six analysts.
Mortgage banking income: $31 million compared to the $22.09 million average estimate based on six analysts.
Leasing revenue: $22 million versus the six-analyst average estimate of $24.79 million.
Capital markets and advisory fees: $56 million versus the six-analyst average estimate of $60.02 million.
Wealth and asset management revenue: $88 million versus the six-analyst average estimate of $85.86 million.
Shares of Huntington Bancshares have returned -3.2% over the past month versus the Zacks S&P 500 composite's -2.6% 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.
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Huntington Bancshares (HBAN) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, Huntington Bancshares (HBAN - Free Report) reported revenue of $1.77 billion, down 8.5% over the same period last year. EPS came in at $0.28, compared to $0.38 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.74 billion, representing a surprise of +1.49%. The company delivered an EPS surprise of +12.00%, with the consensus EPS estimate being $0.25.
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: 63.7% versus 64.4% estimated by six analysts on average.
- Net Interest Margin (FTE): 3% versus the six-analyst average estimate of 3%.
- Average Balance - Total earning assets: $173.76 billion versus the six-analyst average estimate of $173.17 billion.
- Net charge-offs / Average total loans and leases: 0.3% compared to the 0.3% average estimate based on five analysts.
- Total nonperforming assets: $738 million versus $710.93 million estimated by two analysts on average.
- Total nonaccrual loans and leases: $716 million compared to the $687.18 million average estimate based on two analysts.
- Total Non-Interest Income: $467 million versus the six-analyst average estimate of $456.96 million.
- Customer deposit and loan fees: $77 million compared to the $76.70 million average estimate based on six analysts.
- Mortgage banking income: $31 million compared to the $22.09 million average estimate based on six analysts.
- Leasing revenue: $22 million versus the six-analyst average estimate of $24.79 million.
- Capital markets and advisory fees: $56 million versus the six-analyst average estimate of $60.02 million.
- Wealth and asset management revenue: $88 million versus the six-analyst average estimate of $85.86 million.
View all Key Company Metrics for Huntington Bancshares here>>>Shares of Huntington Bancshares have returned -3.2% over the past month versus the Zacks S&P 500 composite's -2.6% 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.