FMP
Huntington Bancshares Gains 5% since Q4 Beat
Jan 24, 2023 9:55 AM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
Image credit: FMP
Huntington Bancshares (NASDAQ:HBAN) shares gained more than 5% since the company’s reported Q4 results on Friday, with EPS of $0.43 coming in better than the Street estimate of $0.40.
Quarterly results reflected solid margin expansion and net interest income growth, stable fees, and relatively well-controlled expense trends. Credit quality also remains relatively stable in an uncertain environment.
The company’s outlook appears solid and can continue to support consistent earnings, with the potential for increased capital return later in the year. For 2023, the company expects average loan growth in the 5% to 7% range, mainly commercial driven, while average deposits are expected to increase from 1% to 4%.
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