Why Huntington Bank Stock Dropped 5% on Monday

Speaking at the 2024 Morgan Stanley US Financials, Payments and CRE Conference this morning, Huntington CFO Zach Wasserman told investors that Huntington's net interest income (NII) this year will probably fall 1% to 4% from a year ago. This qualifies as an "earnings warning" because, says The Fly, Huntington had previously predicted NII would be roughly flat, plus or minus 2%. So how bad is this news for Huntington Bancshares investors? Worst case, a 4% decline in NII would seem to imply a full-year earnin ...