CORRECTED-Huntington Bancshares Q4 net income falls 17% on acquisition costs

Overview

• Regional bank's Q4 net income fell 17% from prior qtr, impacted by acquisition expenses

• Net interest income rose 6% from prior qtr, 14% yr/yr

• Completed Veritex integration, Cadence partnership closing Feb 1, 2026

Outlook

• Huntington expects Cadence Bank partnership to close on February 1, 2026

• Company focuses on driving strong organic growth in 2026

• Huntington sees robust backlogs and pipeline entering 2026

Result Drivers

• NET INTEREST INCOME - Increased by $86 mln, or 6%, from prior qtr and $197 mln, or 14%, yr/yr, driven by organic growth and strategic partnerships

• LOAN GROWTH - Average total loans and leases rose by $10.7 bln, or 8%, from prior qtr, boosted by Veritex acquisition

• STRATEGIC PARTNERSHIPS - Completed Veritex integration and anticipated Cadence partnership to further drive growth

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 3 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "buy"

• Wall Street's median 12-month price target for Huntington Bancshares Inc is $20.00, about 6.6% above its January 21 closing price of $18.77

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

Press Release: ID:nPn7CcRXQa

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