Huntington Bancshares beats profit estimates on capital markets strength

Huntington Bancshares News

Huntington Bancshares beats profit estimates on capital markets strength
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Capital markets and advisory fees jumped 50%, while wealth and asset management revenue rose 18%, Huntington said. Net interest income (NII) - the spread...

- Huntington Bancshares ' third-quarter profit beat expectations on Thursday, as higher underwriting and wealth management fees offset a hit from bigger deposit costs.

Net interest income - the spread between earnings on loans and deposit costs - dipped 1% to $1.35 billion, but was 3% higher than the second quarter. Huntington forecast fourth-quarter NII to be flat or up 1% from last year. Analysts polled by LSEG had expected a rise of 3.9%."Loan pipelines are robust as we enter the fourth quarter, and we believe this growth momentum establishes a foundation for growing revenue and expanded profitability heading into 2025," Steinour said.

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