Huntington Bancshares Shares Up 12% Since Q3 Results Announcement

Huntington Bancshares (NASDAQ:HBAN) shares rose more than 12% since the company’s reported Q3 results on Friday. Quarterly EPS came in at $0.39, beating the Street estimate of $0.38.

Overall, fundamental trends were strong with solid loan growth and robust margin expansion driving higher revenues. Noninterest income results reflected the environment, and higher expenses were influenced by favorable revenue trends. Credit remained clean and solid.

RBC Capital analysts provided their views on the company, stating they are encouraged by the core growth and margin trends which is powering higher net interest income. The analysts continue to expect positive near-term trends. They anticipate a broader strategic update from management at their November investor day. The analysts raised their price target on the company’s shares to $17 from $16, while maintaining their Outperform rating.