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Huntington Bancshares (HBAN)
NASDAQ:HBAN
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Earnings Data
Report Date
Jan 17, 2025Before Open Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.31Last Year’s EPS
$0.15Same Quarter Last Year
Moderate Buy
Based on 12 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 17, 2024
|% Change Since: 3.98%
|Next Earnings Date:Jan 17, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong loan and deposit growth, robust fee revenue increases, and stable credit quality, offset by some minor challenges including timing mismatches in NII growth and seasonal declines in specific areas. The company's strategic expansions and investments are yielding positive results.Company Guidance
During the Q3 2024 earnings call for Huntington Bancshares, the management provided a detailed outlook for the company, emphasizing several key performance metrics. The bank reported earnings per share of $0.33 and a return on tangible common equity of 16.2%. Average loan balances increased by 3.1% year-over-year, with end-of-period loans growing at an annualized rate of 6.3%. Deposit growth was robust, rising by $8.3 billion or 5.6% over the past year. The adjusted common equity Tier 1 ratio was noted at 8.9%. The bank achieved a 12% growth in core fee revenues, driven by payments, wealth management, and capital markets. Credit performance remained strong, with net charge-offs at 30 basis points and a decrease in allowance for credit losses to 1.93%. Looking ahead, the bank expects to deliver record net interest income in 2025, supported by dynamic balance sheet management and continued growth initiatives.Accelerated Loan and Deposit Growth
Average loan balances grew by 3.1% year-over-year with end-of-period loans increasing at a 6.3% annualized rate. Deposits increased by $8.3 billion or 5.6% year-over-year.
Strong Fee Revenue Growth
GAAP fee income increased by 3% year-over-year, with core fee revenues growing by 12%, driven by payments, wealth management, and capital markets.
Improved Credit Quality
Net charge-offs remained stable at 30 basis points, and allowance for credit losses decreased by 2 basis points to 1.93%.
Successful Execution of Growth Initiatives
Expansion into the Carolinas and investments in commercial and regional banking led to better-than-expected results.
Record Loan Production
Regional banking group posted record loan production in the third quarter, with late-stage commercial pipelines up 68% from a year ago.
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HBAN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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HBAN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 17, 2024 | $15.70 | $15.29 | -2.61% |
| Jul 19, 2024 | $14.02 | $14.57 | +3.92% |
| Apr 19, 2024 | $12.76 | $12.86 | +0.78% |
| Jan 19, 2024 | $11.71 | $12.17 | +3.93% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Huntington Bancshares (HBAN) report earnings?
Huntington Bancshares (HBAN) is schdueled to report earning on Jan 17, 2025, Before Open Not Confirmed.
What is Huntington Bancshares (HBAN) earnings time?
Huntington Bancshares (HBAN) earnings time is at Jan 17, 2025, Before Open Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is HBAN EPS forecast?
HBAN EPS forecast for the fiscal quarter 2024 (Q4) is $0.31.
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