Huntington Bancshares Q2 Adj. EPS Meets Estimates, But Revenues Miss

(RTTNews) - Huntington Bancshares, Inc. (HBAN) reported Friday that net income applicable to common shares for the second quarter grew to $509 million or $0.34 per share from $439 million or $0.30 per share in the year-ago quarter.

Net interest income grew 12 percent to $1.47 billion, while noninterest income decreased 4 percent to $471 million from last year.

Excluding the loss on the repositioning of securities and impact of credit risk transfer transactions, noninterest income increased 7 percent.

Total revenue for the quarter increased 8 percent to $1.95 billion from $1.82 billion in the same quarter last year.

On average, analysts polled expected the company to report earnings of $0.34 per share on revenues of $1.97 billion for the quarter. Analysts' estimates typically exclude special items.

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