Huntington Bancshares (HBAN.O): 2Q26 Preview – Expectations Reset Following 1Q Earnings; Expect 2Q as Proof-Point Towards Med-Term Targets

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Huntington Bancshares (HBAN.O): 2Q26 Preview – Expectations Reset Following 1Q Earnings; Expect 2Q as Proof-Point Towards Med-Term Targets

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22 Jun 2026 16:05:00 ET │ 14 pages

Huntington Bancshares (HBAN.O)

2Q26 Preview – Expectations Reset Following 1Q Earnings; Expect 2Q as

Proof-Point Towards Med-Term Targets

CITI’S TAKE Buy

Heading into 2Q earnings, we expect attention to be centered on NII and Price (18 Jun 26 16:00) US$16.86

NIM which mgmt revised lower at 1Q earnings due to funding cost Target price US$21.00

pressures. Our estimates are broadly in-line with cons on both, reflecting

Expected share price return 24.6% the reset in trajectory following 1Q results with our upside driven primarily

by better expense discipline as our estimates are near the low-end of Expected dividend yield 4.3%

mgmt’s up 32.5-33.5% full year range. HBAN has lagged our coverage YTD Expected total return 28.8%

(down ~3% vs BKX up ~9.5%) given ~7% downward revisions to 2026 Market Cap US$34,177M

consensus estimates. With expectations reset and sentiment

incrementally more positive following commentary at the MS conference,

we view 2Q as a key proof-point quarter for continued execution towards

medium-term targets and improving credibility in return trajectory. Benjamin GerlingerAC

+1-212-816-3538

benjamin.gerlinger@citi.com

Estimate Changes — Our 2026E EPS is unchanged at $1.50 (vs. FactSet consensus

of $1.49), 2027E EPS unchanged at $1.90 (vs. FactSet consensus of $1.90), and Mikhail Mrotchek

2028E EPS increases 10c to $2.15 (see Figure 1 for more detail). HBAN reports 2Q26 +1-212-816-2345

earnings on July 23. misha.mrotchek@citi.com

Kaili Wang, CFA

+1-716-730-7408

kaili.wang@citi.com

EPS (US$) Q1 Q2 Q3 Q4 FY FC Cons VA Cons

2025A 0.34A 0.34A 0.41A 0.30A 1.39A 1.46A 1.48A