Huntington Bancshares Q2 EPS Beats, Revenues Meet Views

Huntington Bancshares shares were over 1% higher pre-market Friday after the company reported Q2 adjusted earnings which were better-than-expected on higher revenues that met forecasts compiled by Capital IQ and its board approved a new share buyback plan. Q2 adjusted EPS was $0.26 per share, up from $0.21 per share a year earlier and three cents above the consensus.

Revenues, comprised of net interest income and non-interest income rose to $1.07 billion from $777 million and matched the average estimate. Looking ahead, the bank holding firm said it expects FY17 revenue growth of over 20%, with average balance sheet growth to be in excess of 20% and loan growth of 4% to 6%. The company’s board also approved the repurchase of up to $308 million of shares through Q2 2018.

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