Huntington Bancshares (HBAN) Reports Q2 Earnings: What Key Metrics Have to Say

Core Insights - Huntington Bancshares reported revenue of $1.82 billion for the quarter ended June 2024, a decrease of 1.9% year-over-year, with EPS at $0.30 compared to $0.35 in the same quarter last year [1] Financial Performance Metrics - The reported revenue exceeded the Zacks Consensus Estimate of $1.81 billion by +0.13%, while the EPS surprise was +7.14% against a consensus estimate of $0.28 [3] - Efficiency Ratio was 60.8%, better than the average estimate of 61.8% from six analysts [4] - Net Interest Margin (FTE) was reported at 3%, matching the average estimate [4] - Average Balance of Total Earning Assets was $178.06 billion, slightly above the average estimate of $177.30 billion [4] - Net charge-offs to Average Total Loans and Leases stood at 0.3%, in line with the average estimate [4] - Total Nonperforming Assets were $780 million, higher than the estimated $750.15 million [4] - Total Nonaccrual Loans and Leases were $733 million, close to the average estimate of $737.90 million [4] - Wealth and Asset Management Revenue was $90 million, slightly above the average estimate of $89.67 million [4] - Customer Deposit and Loan Fees reached $83 million, exceeding the average estimate of $79.91 million [4] - Payments and Cash Management Revenue was $154 million, slightly above the average estimate of $153.03 million [4] - Leasing Revenue was $19 million, below the average estimate of $25.34 million [4] - Total Non-Interest Income was $491 million, slightly below the average estimate of $493.79 million [4] - Capital Markets and Advisory Fees were reported at $73 million, above the average estimate of $64.63 million [4] Stock Performance - Shares of Huntington Bancshares have returned +14.2% over the past month, outperforming the Zacks S&P 500 composite's +1.1% change [6] - The stock currently holds a Zacks Rank 5 (Strong Sell), indicating potential underperformance in the near term [6]