Huntington (HBAN) Plunges 6.1% as 2024 NII Guidance Lowered

Shares of Huntington Bancshares (HBAN) tanked 6.1% after it trimmed the forecast for full-year 2024 net interest income (NII). The company's CFO, Zach Wasserman, revealed this at the 2024 Morgan Stanley US Financials, Payments and CRE Conference. The bank now expects NII to decline between 1% and 4% this year. Earlier in April, management projected NII to be between a decline of 2% and a rise of 2%. In first-quarter 2024, HBAN witnessed an 8% year-over-year decline in NII to $1.30 billion. Despite lowering ...