Huntington Bancshares Inc.

HBAN
Financial Analysis · Updated May 13, 2026 · Coverage 2026-Q2
Latest Q Revenue
$4.5B
Q1 2026
TTM ROIC
15.9%
FY2025 · ROTCE (Return on Tangible Common Equity); Net Income / Average Tangible Common Equity; AOCI excluded per industry standard · WACC ~10% · Moat spread +5.9pp

Financial Snapshot


ticker: HBAN step: 04 generated: 2026-05-12 source: quick-research

Huntington Bancshares Incorporated (HBAN) — Financial Snapshot

Income Statement Summary

Metric FY2022 FY2023 FY2024 YoY
Total Revenue (net) $7.29B $7.40B $7.44B +0.5%
Net Income $2.24B $1.95B $1.94B -0.6%
EPS (diluted) $1.45 $1.24 $1.22 -1.6%

Revenue has been relatively stable 2022–2024 despite higher funding costs compressing NII. Net income and EPS declined as deposit repricing costs rose in the higher-rate environment. FY2025 saw a transformational step-up from the Veritex and Cadence acquisitions: ~11% revenue growth, ~$10B of organic loan growth.

Cash Flow & Balance Sheet (FY2024)

Metric Value
Total Assets ~$200B (FY2024) / $285B (FY2025 post-acquisitions)
Total Loans ~$120B (FY2024)
Total Deposits ~$155B (FY2024)
CET1 Ratio ~10.4%
Dividend Yield ~3.8%

Post-acquisition balance sheet ($285B total assets) reflects the 2025 Veritex + Cadence deals. CET1 remains well-capitalized. Management committed to $550M buyback in 2026 + $1.2B in 2027, targeting ~5% share count reduction by end-2027.

Key Ratios (approximate)

  • P/E (FY2025): ~10x | P/TBV: ~1.2x | Dividend Yield: ~3.8%
  • FY2025 GAAP EPS: $1.39 | ROTCE (FY2025): ~15.7%
  • NIM (2026 guidance): high 3.20% range (improving through 2026-2027)

Growth Profile

Huntington was a steady-but-slow grower in 2022–2024 as the higher-rate environment compressed net interest margins. FY2025 was transformational — Veritex and Cadence acquisitions added Texas and Southeast scale, driving ~11% revenue growth and double-digit EPS growth. The acquisition strategy shifts Huntington from a Midwest-concentrated bank to a national regional with exposure to faster-growing Sun Belt markets.

Forward Estimates

  • FY2026 NII growth: 10–13% (standalone basis); NIM trending to high 3.20% range
  • FY2026 Fee revenue growth: +31–33% (capital markets, payments, wealth driving upside)
  • FY2026 EPS: ~$1.50–$1.60 (consensus)
  • $3B buyback authorization over 2026–2027 provides EPS accretion

Deeper Financial Analysis

The fundamental tier adds 9 additional research dimensions for $HBAN.

Revenue Breakdown
Segment revenue, geographic mix, product-line contribution margins, and cohort dynamics.
Financial Trends
Quarter-over-quarter momentum, leading indicators, and inflection point analysis.
Balance Sheet
Debt structure, liquidity runway, dilution risk, and working capital dynamics.
Capital Allocation
Buyback cadence, M&A appetite, dividend policy, and reinvestment priorities.
Returns on Capital (ROIC)
Multi-year ROIC vs. WACC, marginal returns on reinvestment, sales-to-invested-capital efficiency, and moat spread.
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Markdown: /stocks/hban/financials/md · → thesis · → memo