Regional Bank Stocks Slammed After Huntington Lowers Guidance
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 10 2024
0mins
Should l Buy MS?
Source: barron's
- Huntington Bancshares Presentation: Huntington Bancshares, a regional bank, announced a lower net interest income projection for the year, causing its stock to drop by 6.1%.
- Market Impact: The news of Huntington's reduced net interest income forecast led to a 1.6% decline in the SPDR S&P Regional Banking exchange-traded fund.
- Reasons for Change: Huntington attributed the adjustment to lower loan growth and higher funding costs related to deposit growth.
- Future Expectations: Despite the current decrease, Huntington anticipates modest net interest income growth in the second quarter and accelerated expansion later in 2024 and into 2025.
- Financial Outlook: The bank's chief financial officer mentioned maintaining high marginal returns and focusing on areas like payments and capital markets as part of their strategy.
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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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