Huntington Bancshares Incorporated Decreases Its Prime Rate To 7.75 Percent
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Huntington Bancshares Incorporated has announced a decrease in its prime rate from 8% to 7.75%, effective November 8, 2024. This follows a previous rate decrease from 8.5% to 8% on September 19, 2024.
November 07, 2024 | 10:15 pm
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NEUTRAL IMPACT
Huntington Bancshares has decreased its prime rate to 7.75%, which may impact its interest income and loan demand.
The decrease in the prime rate by Huntington Bancshares could lead to lower interest income from loans, but it might also stimulate loan demand. The net effect on the stock price is uncertain in the short term, hence a neutral score.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100