Huntington Bancshares Slips 10% As Quarterly Results Fall Shy Of Estimates

Shares of Huntington Bancshares Incorporated (HBAN) are falling more than 10% Friday morning following fourth quarter results, that failed to meet expectations.

Net income in the fourth quarter increased to $401 million or $0.26 per share from $316 million or $0.27 per share in the same quarter a year ago. However, it missed the average estimate of 17 analysts polled by Thomson Reuters at $0.32 per share.

Total revenue was $1.653 billion compared with $1.239 billion last year. The consensus estimate stood at $1.69 billion.

Net interest income was $1.132 billion in the fourth quarter compared with $825 million last year.

Noninterest income was $515 million compared with 409 million a year ago.

HBAN, currently at $14.93, has been trading in the range of $13.01- $17.79 in the past 52 weeks.

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