PR Newswire
COLUMBUS, Ohio, Oct. 24, 2019
COLUMBUS, Ohio, Oct. 24, 2019 /PRNewswire/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN; www.huntington.com) reported net income for the 2019 third quarter of $372 million, a decrease of 2% from the year-ago quarter. Earnings per common share (EPS) for the 2019 third quarter were $0.34, up 3% from the year-ago quarter. Tangible book value per common share as of 2019 third quarter-end was $8.25, a 17% year-over-year increase. Return on average assets was 1.37%, return on average common equity was 13.4%, and return on average tangible common equity was 17.3%.
"Our solid third quarter results reflect continued momentum across our businesses despite a challenging operating environment," said Steve Steinour, chairman, president, and CEO. "We are pleased with 4% revenue growth, especially the growth in noninterest income. With the prevailing outlook for additional interest rate cuts, we remain committed to disciplined expense management and have taken actions to reduce our expense growth. We remain on track to deliver full-year positive operating leverage in 2019, and we are currently projecting positive operating leverage again in 2020."
"Consumer confidence remains at a high level, and consumers continue to perform well. We experienced strong origination activity in our home lending and auto finance businesses, while maintaining our underwriting discipline. Consistent with recent economic data pointing toward slowing growth, compounded by uncertainty related to trade and tariffs, we have seen a shift in tone from some of our manufacturing customers, which has impacted certain of their investments and expansions. While our commercial loan pipeline remains consistent with a year ago, providing us near-term confidence, we have a more measured outlook for commercial loan growth over the medium term."
"As we have stated the past few quarters, we do not foresee a recession in the near term. Our core earnings power, strong capital, aggregate moderate-to-low risk appetite, and long-term strategic alignment position us to withstand economic headwinds should they emerge," Steinour said.
2019 Third Quarter Highlights compared with 2018 Third Quarter:
Table 1 – Earnings Performance Summary
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ME6CSA
| Ask: 2,55 | Hebel: 4,96 |
mit moderatem Hebel |
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| 2019 | | 2018 | ||||||||||||||||
(in millions, except per share data) | Third | | Second | | First | | Fourth | | Third | ||||||||||
Quarter | | Quarter | | Quarter | | Quarter | | Quarter | |||||||||||
Net Income | $ | 372 | | | $ | 364 | | | $ | 358 | | | $ | 334 | | | $ | 378 | |
Diluted earnings per common share | 0.34 | | | 0.33 | | | 0.32 | | | 0.29 | | | 0.33 | | |||||
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Return on average assets | 1.37 | % | | 1.36 | % | | 1.35 | % | | 1.25 | % | | 1.42 | % | |||||
Return on average common equity | 13.4 | | | 13.5 | | | 13.8 | | | 12.9 | | | 14.3 | | |||||
Return on average tangible common equity | 17.3 | | | 17.7 | | | 18.3 | | | 17.3 | | | 19.0 | | |||||
Net interest margin | 3.20 | | | 3.31 | | | 3.39 | | | 3.41 | | | 3.32 | | |||||
Efficiency ratio | 54.7 | | | 57.6 | | | 55.8 | | | 58.7 | | | 55.3 | | |||||
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Tangible book value per common share | $ | 8.25 | | | $ | 7.97 | | | $ | 7.67 | | | $ | 7.34 | | | $ | 7.06 | |
Cash dividends declared per common share | 0.15 | | | 0.14 | | | 0.14 | | | 0.14 | | | 0.14 | | |||||
Average diluted shares outstanding | 1,051 | | | 1,060 | | | 1,066 | | | 1,073 | | | 1,104 | | |||||
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Average earning assets | $ | 99,692 Werbung Mehr Nachrichten zur Huntington Bancshares Inc. Aktie kostenlos abonnieren
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