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Huntington Bancshares Slips as Interest Income Misses Targets

Shares of Huntington Bancshares tumbled 4.6% to $17.43 Thursday after the bank’s second-quarter performance failed to satisfy Wall Street. While the company reported a profit of $727 million, the bottom line fell short of analyst consensus, leaving investors to weigh rising margins against underwhelming revenue growth.

Huntington Bancshares Slips as Interest Income Misses Targets

The Columbus-based holding company posted earnings of 33 cents a share, missing the 36-cent target set by FactSet analysts. When stripping out one-time items, adjusted earnings reached 39 cents a share, aligning with market expectations. Despite this recovery, the stock remains largely flat for the year.

Revenue pressures centered on net interest income, which climbed 40% to $2.05 billion. This figure trailed the $2.1 billion anticipated by analysts. On a more positive note, the bank’s net interest margin saw expansion, rising to 3.21% from 3.11% in the prior year period.

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