HBAN CFO Meeting Takeaways: Multiple Ways to Win

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HBAN CFO Meeting Takeaways: Multiple Ways to Win

Brokers, Asset Managers & Exchanges

Banks/Mid-Cap - Market Weight

HUNTINGTON (HBAN) June 2, 2026

HBAN CFO Meeting Takeaways: Multiple Ways to Win Rating:

Outperform

The Wolfe Byte Price: $15.83

Meeting with HBAN's CFO reinforced the path to $1.90 - $1.93 of 2027 EPS Price Target:

even with a shift in the macro environment. Despite mid-teens earnings growth / $20

best-in-class ROTCE profile vs. bank peers, relative valuation remains heavily % Upside:

26.3%discounted. Reiterate Outperform.

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Meeting with HBAN CFO reinforces the path to >$1.90 of EPS in 2027. We recently Company Information

hosted an investor meeting with HBAN CFO Zach Wasserman, and Head of IR Eric 52-Week Range $15 - $19

Wasserstrom. The meeting focused on the competitive environment for loan / deposit Market Cap. (MM) $33,164

growth, deal related integration, and capital management. Bottom Line: The meeting Shares Out. (MM) 2,027.1

Avg. Value Traded (MM) $429.94

gave us increased confidence that HBAN will be able to meet its 2027 targets despite SI% of Float 2.8%

changes in the macro environment subsequent to closing recent deals (CADE, VBTX). Dividend Yield 3.8%

Longer-term, we believe HBAN's intense focus on driving efficiency gains / reinvesting ROTCE 19.00%

in the business will ultimately widen the firm's competitive moat vs. peers, supporting Price Performance

sustained HSD % organic growth that is not being reflected in its current valuation YTD LTM

(~8.5x WR 2027 EPS / ~1.5x WR YE27 TBVPS). Reiterate Outperform. HBAN (9)% 1% S&P 500 11% 29%

Deposit competition is more intense at the margin, but still remains rational. A 20

higher for longer rate backdrop has resulted in increased competition for deposits, 19