Huntington Bancshares sees FY19 revenue up 4%-7%, consensus $4.76B
The company said, "With the assumption of no interest rate hikes in 2019, full-year revenue is expected to increase approximately 4% to 7%. The full-year NIM is expected to remain relatively flat on a GAAP basis versus 2018, inclusive of the anticipated reduction in the benefit of purchase accounting and the cost of the hedging strategy we began implementing in the 2019 first quarter. The full-year core NIM is expected to expand modestly. Full-year noninterest expense is expected to increase approximately 2% to 4%.Average loans and leases are expected to increase approximately 4% to 6% on an annual basis. Average total deposits are expected to increase approximately 4% to 6% on an annual basis. Asset quality metrics are expected to remain better than our average through-the-cycle target ranges, with some moderate quarterly volatility. The effective tax rate for 2019 is expected to be in the range of 15.5% to 16.5%."