Huntington Bancshares Q3 Earnings Exceed Consensus On Improved Net Interest Income
Portfolio Pulse from Lekha Gupta
Huntington Bancshares Inc reported Q3 revenues of $1.88 billion, beating the consensus of $1.82 billion. Net interest income rose 3% Y/Y, with a net interest margin of 3.20% vs 3.42% a year ago. Adjusted EPS of $0.36 beat the consensus of $0.32. Cash and cash equivalents and available contingent borrowing capacity stood at $91 billion. Average core deposits increased 1% Q/Q, reflecting continued acceleration in consumer deposit gathering and focus on acquiring and deepening primary bank relationships.

October 20, 2023 | 2:21 pm
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POSITIVE IMPACT
Huntington Bancshares reported strong Q3 results, beating revenue and EPS consensus. This could lead to a positive short-term impact on the stock.
Huntington Bancshares reported better than expected Q3 results, with both revenues and EPS beating consensus. This positive financial performance could lead to increased investor confidence and a potential rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100