Regional Bank Investors Spooked After Huntington Lowers Guidance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 10 2024
0mins
Source: barron's
- Shares Decline for Regional U.S. Banks: Shares of regional U.S. banks, including Huntington Bancshares, dropped after the bank announced a lower net interest income projection for the year.
- Huntington Bancshares Presentation: The parent company of Huntington Bank informed investors that it expected a 1% to 4% decrease in net interest income this year, contrary to its previous guidance.
- Impact on Stock Prices: Huntington's announcement led to a 6% drop in shares, the largest decline since March 2023, affecting the wider sector as well.
- Reasons for Income Projection Change: Factors contributing to the revised income projection included lower loan growth and increased funding costs related to deposit growth.
- Future Expectations: Huntington anticipates modest net interest income growth in the second quarter and accelerated expansion in the latter part of 2024 and into 2025.
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Analyst Views on MS
Wall Street analysts forecast MS stock price to fall
14 Analyst Rating
7 Buy
7 Hold
0 Sell
Moderate Buy
Current: 191.620
Low
132.00
Averages
185.00
High
219.00
Current: 191.620
Low
132.00
Averages
185.00
High
219.00
About MS
Morgan Stanley is a global financial services company. The Company is engaged in providing a range of investment banking, securities, wealth management and investment management services. Its segments include Institutional Securities, Wealth Management and Investment Management. Its Institutional Securities segment provides a variety of products and services to corporations, governments, financial institutions and ultra-high net worth clients. Its Wealth Management segment provides an array of financial services and solutions to individual investors and small to medium-sized businesses and institutions. Its Investment Management segment provides a range of investment strategies and products that span geographies, asset classes, and public and private markets to a diverse group of clients across institutional and intermediary channels. Its investment banking services consist of capital raising and financial advisory services, including the underwriting of debt and other products.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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