ADVFN - Advanced Financial Network.
HOME» NASDAQ » H » HBAN Stock Price » HBAN Stock News

Huntington Bancshares Share News

 Huntington Bancshares (mm) Stock Price
HBAN Stock Price
 Huntington Bancshares (mm) Stock Chart
HBAN Stock Chart
 Huntington Bancshares (mm) Stock News
HBAN Stock News
 Huntington Bancshares (mm) Company Information
HBAN Company Information
 Huntington Bancshares (mm) Stock Trades
HBAN Stock Trades

Huntington Bancshares 1Q Net Soars Amid Lower Loan-Loss Reserve

DOW JONES NEWSWIRES Huntington Bancshares Inc.'s (HBAN) first-quarter profit more than tripled and adjusted earnings topped analysts' estimates as it slashed credit-loss provisions and revenue edged up. The Ohio regional bank, like many peers, has improved its bottom line lately by lowering its loan-loss reserves amid signs of better credit quality. It has also seen revenue grow. Huntington posted a profit of $126.4 million, or 14 cents a share, up from $39.7 million, or a penny a share, a year earlier. Additional litigation reserves cut the latest result by a penny. The number of shares outstanding rose 21%. Revenue edged up 1% to $641.3 and was up 1.3% on a fully taxable equivalent basis. Analysts had expected a per-share profit of 12 cents on $664 million in revenue, according to a Thomson Reuters poll. Credit-loss provisions were $49.4 million, down from $235 million a year earlier and $87 million in the prior quarter. Net charge-offs, or loans lenders don't think are collectible, fell to 1.73% of average loans from 2.58% and 1.82%, respectively. The nonperforming asset ratio fell to 1.8% from 5.17% and 2.21%. Shares closed Tuesday at $6.44 and were inactive in recent premarket trading. -By Matt Jarzemsky, Dow Jones Newswires; 212-416-2240; matthew.jarzemsky@dowjones.com

Stock News for Huntington Bancshares (HBAN)
DateTimeHeadline
02/24/201511:30:10Huntington to Buy Macquarie Equipment Finance -- Update
02/24/201508:41:36Huntington to Buy Macquarie Equipment Finance to Expand in Michigan

Huntington Bancshares and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad