- "First take: Slightly better than consensus, but outlook mixed," says Goldman, commenting on Huntington Bancshares (HBAN -4.1%) Q4 results.
- Net income of $9M fell 6% from a year ago, with net interest income of $439M unchanged amid a drop in NIM of 17 bps to 3.28%.
- Noninterest income of 246.6M is off 17% from a year ago.
- The efficiency ratio rose (not an improvement) to 63.7% from 60.6% in Q3 and 62.3% a year ago.
- 2014 outlook: "We again expect to face the headwinds of the yield curve, the regulatory environment, and the uncertainty of Washington, [but] we believe our business model will continue to overcome these challenges and deliver strong performance ... Noninterest income ... is expected to be slightly lower than recent levels, due to the anticipated decline in mortgage banking revenues."
- CC at 10 ET
- Press release, Q4 results
Huntington slides amid tepid outlook
Jan 16 2014, 09:45 ET