Dallas, Texas 01/17/2014 (FINANCIALSTRENDS) – Huntington Bancshares Incorporated (NASDAQ:HBAN) since announcing its last quarter results has been under the scanner by analysts across the industry. First of the many to define Huntingtons’ performance, Goldman says, that though the company did beat estimates, the outlook remain mixed in nature.
Goldman’s interpretation of Huntington Bancshares Incorporated (NASDAQ:HBAN) results are based on these numbers- the net income fall of 6% to $9 million, from its previous year. Net interest income though remained the same at $439million. However, there was drop in the NIM at 17 bps finishing at 3.8%. Additionally, the income from the noninterest category too saw a drop of over 17% over previous year recording only- $246.6 million. Huntington Bancshares Incorporated (NASDAQ:HBAN) on the positive side saw a rise in the efficiency ratio – moving to 63.7% against 60.6% in the third-quarter and 62.3% of the previous year.
Huntington Bancshares Incorporated (NASDAQ:HBAN) announced its annual outlook, with expectations of improvement in the yield. The company expects that the combination of the regulatory agencies and the poor government policy direction will continue to affect overall growth. However, with the business model that Huntington Banschares holds, it should be able to hold its own. The only concrete offering the company is positive about is its noninterest income. It expects that as the new financial year commences, the company will see a drop in the figures for this category over previous quarters. The fall will be due to the fall in the overall-mortgage banking forecast in the industry.
Huntington Bancshares Incorporated (NASDAQ:HBAN) is a US-based financial services provider with multi-state presence. The company operates through it’s holding – The Huntington National Bank. The financial services provider has 23,412,461 volume and $8.00 billion market cap, trades at 52 week high of $9.87 and 52 week low of $6.61. EPS is 0.77 and PE is 12.90.Dividend rate is 0.20, while the yield is 2.0.