In terms of revenue, Huntington Bancshares reported $1.82 billion, just exceeding expectations by 0.13%. This represents a decrease from the $1.85 billion in revenues posted in the same quarter last year. Like its earnings, the company has also beaten revenue estimates in three of the last four quarters. Despite these positive reports, the stock has not performed as well as the market overall, having gained about 12.4% since the start of the year compared to the S&P 500’s 16.2% increase.
Looking ahead, investors are questioning the future of Huntington Bancshares in light of its recent performance. Currently, the stock holds a Zacks Rank of #5, which indicates a “Strong Sell” status. This rating reflects recent unfavorable trends in earnings estimate revisions, suggesting that the stock may continue to underperform in the near term. Consensus EPS estimates for the upcoming quarter stand at $0.30 with revenues expected to be around $1.86 billion. Meanwhile, Lakeland Financial, another key player in the same industry, is set to release its quarterly earnings soon, with expectations pointing to significant growth of 49.1% compared to the previous year.
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