Huntington Banchares stock down after earnings miss

Huntington Bancshares Inc. HBAN, -8.99% shares fell 4.4% in premarket trades on Friday after the bank missed Wall Street’s earnings target. The Columbus, Ohio financial company said it earned $401 million, or 26 cents a share in the fourth quarter, up from $316 million, or 27 cents a share, in the year-ago quarter. Adjusted earnings totaled 36 cents a share in the latest quarter. Revenue rose to $1.65 billion from $1.24 billion. The bank fell short of the analyst expectation for earnings of 30 cents a share and revenue of $1.69 billion, according to a survey of analysts by FactSet. Shares of Huntington Bancshares are up 8.2% so far in 2022, compared to a loss of nearly 6% by the S&P 500.

Source: Marketwatch

Technical Analysis & Forecast 16.04.2024

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