Overview

• US regional bank's Q2 net interest income rose 9% sequentially, driven by acquisitions

• Adjusted EPS for Q2 was $0.39, up $0.02 sequentially

• Net income rose 39% sequentially to $727 mln

Outlook

• Company expects full earnings power from acquisitions to be evident by Q4

• Huntington says operating environment remains constructive entering second half of 2026

• Company expects sustained growth of earnings and tangible book value

Result Drivers

• ACQUISITION IMPACT - Growth in loans, leases, and deposits was driven by the Cadence and Veritex acquisitions

• NONINTEREST INCOME - Noninterest income rose 15% from the prior quarter and 67% from the year-ago quarter

• SYSTEMS CONVERSION - Successful Cadence Bank systems conversion completed in mid-June, supporting integration efforts

Company press release: ID:nPn5q08lFa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 EPS		$0.33
Q2 Net Income		$727 mln
Q2 CET1 Capital Ratio		10.00%

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 4 "hold" and no "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 9.5% above its July 22 closing price of $18.27

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads

• July 22 - Old National Bancorp's Q2 net income hits record on loan growth

• July 22 - Pinnacle Financial Q2 revenue more than doubles after Synovus merger

• July 21 - KeyCorp quarterly profit rises on interest income strength

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