Huntington Bancshares Incorporated
HBAN · Nasdaq
HBAN · Nasdaq
Huntington Bancshares Incorporated Depositary Shares 4.500% Series H Non-Cumulative Perpetual Preferred Stock$16.25
Huntington Bancshares Incorporated Depositary Shares, Each Representing a 1/1000th Interest in a Share of 5.50% Series L Non-Cumulative Perpetual Preferred Stock$19.17
Shinhan Financial Group Co Ltd American Depositary Shares$85.75
Huntington Bancshares Incorporated Depositary Shares each representing a 1/1000th interest in a share of Huntington Series I Preferred Stock$19.91Reports Oct 22, 2026, before the open.
Consensus is $0.40 EPS for Sep 2026 across 6 estimates, ranging $0.38 to $0.42.
Huntington’s June 2026 quarter was principally an acquisition-driven expansion quarter, with strong revenue growth offset by integration costs and a heavier credit burden. The supplied earnings comparison shows EPS of $0.39, in line with the $0.39 consensus. The 10-Q, however, reports GAAP diluted EPS of $0.33, down from $0.34 in the year-ago quarter but up from $0.25 in Q1 2026. Net income attributable to Huntington was $727 million, compared with $536 million a year ago and $523 million in the prior quarter. The filing reports $2.84 billion of total revenue, including $2.05 billion of net interest income and $785 million of noninterest income.
Cadence and the earlier Veritex acquisition reshaped the balance sheet: average earning assets grew 35% year over year, loans rose 42% to $189.3 billion on average, and deposits increased 37% to $222.5 billion at quarter-end. Lower funding costs helped lift NIM to 3.21%, while fee income benefited from higher capital markets, payments, wealth, mortgage and leasing activity. The trade-off was $152 million of acquisition-related expense and a 51% increase in reported noninterest expense. Credit metrics also softened, with charge-offs rising to 0.25% and NPAs up 71% from year-end, although ACL coverage remained 1.78%.
Cadence was the defining structural event in the quarter, following its February 1, 2026 closing, while Veritex also contributed to the year-over-year comparison. Huntington issued 462 million common shares for Cadence and recorded total consideration of $8.3 billion. The transaction added $51.3 billion of assets and $43.5 billion of deposits at closing, including $36.9 billion of loans. Cadence also generated $3.5 billion of preliminary goodwill and $855 million of core deposit intangibles.
Net interest income provided the largest earnings contribution. Reported NII increased $585 million, or 40%, to $2.05 billion, while FTE NII rose 40% to $2.07 billion. Growth was driven mainly by the acquired balance sheets and organic expansion rather than asset yields, which declined modestly. Lower funding costs nevertheless widened the margin.
Noninterest income broadened materially, with every major category higher year over year and the comparison helped by a $58 million securities loss in the prior-year quarter. The gains were partly consumed by the cost of operating the larger franchise and integrating Cadence and Veritex.
Credit costs rose with the enlarged loan book and higher realized losses. Provision expense was $132 million, up from $103 million a year earlier, while the allowance increased primarily because of acquired Cadence loans, organic growth and a macroeconomic reserve framework. Coverage declined modestly as the portfolio expanded.
The larger balance sheet remained funded predominantly by customer deposits and supported by substantial contingent liquidity, but acquisition issuance and loan growth reduced the consolidated CET1 ratio. Huntington continued both common dividends and repurchases while maintaining capital above regulatory well-capitalized standards.