Banks and credit unions are practicing a careful balancing act: protecting assets from shrinking margins and volatile markets while also devoting resources to financial relief measures for clients amid a global pandemic.
Huntington Bancshares (HBAN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Q1 2020 Huntington Bancshares Inc Earnings Call
Huntington Bancshares (HBAN) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Huntington Bancshares (HBAN) delivered earnings and revenue surprises of -75.00% and 0.80%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Huntington Bancshares Incorporated (Nasdaq: HBAN; www.huntington.com) reported net income for the 2020 first quarter of $48 million, a decrease of 87% from the year-ago quarter. Earnings per common share for the 2020 first quarter were $0.03, down 91% from the year-ago quarter. Tangible book value per common share as of 2020 first quarter-end was $8.28, an 8% year-over-year increase. Return on average assets was 0.17%, return on average common equity was 1.1%, and return on average tangible common equity was 1.8%. Results were impacted by elevated credit provisioning related to the deteriorating economic outlook.
Coronavirus has upended many businesses, even those that have been deemed essential. Huntington Bank is no exception.
As soon as New York officials began detailing their response to the coronavirus, Matt Preis knew his staff might be in trouble. "I have never seen anything like this in my lifetime," said Preis, who employs three full-time workers and several others part-time. Like many other small-business owners who spoke to Reuters, Preis is hoping new government programs might keep him afloat.
Huntington Bancshares Incorporated (Nasdaq: HBAN; www.huntington.com) announced that its 2020 Annual Meeting of Shareholders will be a virtual meeting of shareholders, which will be conducted solely online via live webcast.
As the new federal program for $349 billion in loans to small businesses debuted on Friday, banks across the country feared that the rules and rollout wouldn't be in sync. While even the SBA acknowledged that not everyone is prepared, most banks in Pittsburgh say they are forging ahead. First Commonwealth Financial Corp. (NYSE:FCF) said it has been “getting ready all week” to help connect its customers to PPP and has the application on its website.
NEW YORK, NY / ACCESSWIRE / April 23, 2020 / Huntington Bancshares, Inc. (NASDAQ:HBAN) will be discussing their earnings results in their 2020 First Quarter Earnings call to be held on April 23, 2020 at ...
Huntington (Nasdaq: HBAN; www.huntington.com) today announced it is contributing $150,000 through The Huntington Foundation to community organizations in the Great Lakes Bay Region to help provide residents with critical basic needs for food and shelter during this emergency.
Huntington Bancshares Incorporated (Nasdaq: HBAN; www.huntington.com) expects to report its 2020 first quarter earnings on Thursday, April 23, 2020, prior to the market opening. A news release and supporting financial data will be available at that time on the Investor Relations section of the company's website.
Huntington National Bank is closing its branch lobbies to normal customer traffic as of today because of the coronavirus pandemic. Other big banks have also taken similar steps to limit branch traffic.
Huntington Bancshares Incorporated (www.huntington.com) announced that the Board of Directors declared a quarterly cash dividend on the company's common stock (Nasdaq: HBAN) of $0.15 per common share, unchanged from the prior quarter. The common stock cash dividend is payable July 1, 2020, to shareholders of record on June 17, 2020.
Huntington's (HBAN) Q1 results likely to reflect lower net interest and fee income, partly offset by prudent expense control.
Huntington National Bank typically signs off on about 35,000 business loans a year. As business owners search for ways to stay afloat amid the ongoing coronavirus pandemic and its ensuing restrictions, CEO Steve Steinour expects the bank will approve that many just this week. "As of Monday we've got well over 20,000 applications," Steinour said in an interview earlier this week, 10 days after the CARES Act, which allocated $349 billion for paycheck protection loans through the U.S. Small Business Administration's existing 7(a) loan program, became law.
Huntington Bank has been preparing for a potential recession for years. Now it seems, those plans will be put to the test.
Lower net interest income and higher provisions hurt Huntington's (HBAN) Q1 earnings, partly muted by reduction in costs and elevated fee income.
Unfortunately for some shareholders, the Huntington Bancshares (NASDAQ:HBAN) share price has dived 50% in the last...