HUNTINGTON BANCSHARES INCORPORATED REPORTS RECORD HUNTINGTON BANCSHARES INCORPORATED REPORTS RECORD NET INCOME OF $641.0 MILLION, OR $0.71 PER COMMON SHARE, FOR 2012, UP 18% FROM THE PRIOR YEAR
DECLARES QUARTERLY DIVIDEND ON COMMON STOCK OF $0.04 PER SHARE
Other specific highlights compared with 2011:
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1.15% return on average assets, up from 1.01%
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$0.60, or 12%, increase in tangible book value per common share to $5.78
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23.3 million shares, or 2.7% of average outstandings, repurchased at an average price of $6.36 per share
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$0.16 dividend paid per common share, a 2.5% dividend yield as of December 31, 2012
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$204.1 million, or 8%, increase in fully-taxable equivalent revenue
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$86.8 million, or 5%, increase in net interest income, reflecting:
¦3.41% fully-taxable equivalent net interest margin, up 3 basis points
¦3% growth in average total loans
¦8% growth in average core deposits
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$117.2 million, or 12%, increase in noninterest income
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$107.4 million, or 6%, increase in noninterest expense
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Delivered positive operating leverage and a modest improvement in efficiency ratio
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25% decline in nonaccrual loans to 1.00% of total loans and leases, down from 1.39%
2012 Fourth Quarter specific highlights compared with 2012 Third Quarter:
•Net income and earnings per share essentially unchanged at $167.3 million and $0.19, respectively
•1.19% return on average assets, unchanged from the prior quarter
•$40.6 million, or 6%, increase in fully-taxable equivalent revenue, reflecting:
¦3.45% fully-taxable equivalent net interest margin, up 7 basis points
¦3% annualized growth in average total loans
¦$17.1 million increase in mortgage banking income
¦$14.1 million increase in gain on sale of loans
•$12.3 million, or 3%, increase in noninterest expense
•13.2 million shares repurchased at an average price of $6.33 per share
https://www.investquest.com/iq/h/hban/ne/news/hban412.htm
HBAN Chart
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Analyst Estimates
https://www.marketwatch.com/investing/stock/hban/analystestimates