Huntington Bancshares Inc. (NASDAQ:HBAN) generated double-digit profit growth and beat Wall Street’s expectations. Shares are up 1.86%.
Huntington Bancshares Inc. Earnings Cheat Sheet
Results: Net income increased 25.57% to $159.3 million (19 cents per diluted share) in the quarter versus a net gain of $126.86 million in the year-earlier quarter.
Actual vs. Wall St. Expectations: Huntington Bancshares Inc. reported adjusted net income of 19 cents per share. By that measure, the company beat the mean analyst estimate of $0.17.
Quoting Management: “Reinvesting excess capital to grow the business organically remains our first priority. Importantly, through dividends and share repurchases, we have the flexibility, subject to market conditions and regulatory approval, to return a meaningful amount of our earnings to the owners of the company…