Huntington Bancshares

HBAN · Nasdaq · Financials · Financials, fiscal 2016 to 2025

HBAN · Last close · October 26, 2026

$15.73

Huntington Bancshares' revenue rose 10.6% to $8.2 billion in fiscal 2025. Net income was $2.2 billion, up 14.0%. Its return on equity was 10.0%, up from 9.9% a year earlier. Its efficiency ratio was 61.4%, down from 61.8% a year earlier. It paid out $908 million in dividends and buybacks. The diluted share count rose 1.9%.

Huntington Bancshares Incorporated Latest fiscal year ended December 31, 2025 10-K filed February 13, 2026 · 0000049196-26-000015 Updated October 9, 2026

Revenue

$8.2B

10.6%

Net income

$2.2B

14.0%

Return on equity

10.0%

0.1 pts

Return on tangible equity

15.0%

0.3 pts

Efficiency ratio

61.4%

0.4 pts

Market cap

$29.9B

Oct 26 close

P/E

12.1x

On $1.30 EPS, 4 qtrs

Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

What Huntington Bancshares does

Huntington Bancshares is a regional bank holding company based in Columbus, Ohio, organized in 1966. Through its bank, Huntington National Bank, it has served customers since 1866. It provides commercial and consumer deposit and lending services, plus payments, mortgage banking, investment banking, capital markets, equipment financing, investment management, trust, brokerage and insurance.

At the end of 2025 it ran more than 1,000 branches in 14 states. It bought Veritex Holdings, a Dallas bank holding company, in October 2025. On February 1, 2026 it completed its merger with Cadence Bank, a regional bank based in Houston and Tupelo, Mississippi, paying in stock. The 10-K values that deal at about $8.1 billion and says Huntington now runs nearly 1,400 branches in 21 states.

Its business segments follow how management tracks results. The company says its aim is to offer the full set of products larger banks offer, delivered locally with local customer service.

Its biggest risks, as it describes them

Setting aside too little for credit losses, or credit risk that hurts results.
Weak economic conditions, and its emphasis on commercial lending.
Changes in interest rates that could reduce its net interest income.
Competition in the banking industry.
Depending on dividends from its subsidiaries, and needing access to capital markets.

From Huntington Bancshares's annual report on Form 10-K, filed February 13, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new 10-K.

Charts show fiscal years, from the 10-K filings.

Revenue and returns

Revenue

US$ billions, fiscal years. Revenue is net of interest expense.

Return on equity

Percent. Net income over average equity; tangible equity excludes goodwill, intangibles and preferred stock.

Return on equityReturn on tangible common equity

Net income and earnings per share

From fiscal 2016 to 2025, earnings per share grew 7.9% a year and net income 13.4% a year, as new shares raised the share count by 64% and diluted each share's earnings.

Net income

US$ billions, fiscal years; loss years in red.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Efficiency and income mix

Efficiency ratio and net interest income

Percent of revenue. The efficiency ratio is noninterest expense over revenue.

Efficiency ratioNet interest income share

Payouts and share count

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, billions

Valuation

Value Huntington Bancshares yourself from its earnings. A bank's cash flow is mostly the money it lends and takes in, so the cash flow model on other company pages doesn't suit it.

Price-to-earnings (P/E) method

Another common way to value a company is to multiply its earnings per share by a price-to-earnings (P/E) multiple: the number of years of today's earnings an investor pays for a share. A higher multiple usually means investors expect earnings to grow. Choose a multiple, for example from similar companies, to see the value it gives.

Value per share on three example scenarios, from Huntington Bancshares' earnings per share of $1.30 (over the last four quarters). Each grows earnings for a year at the cash flow scenarios' rates and applies a multiple to next year's earnings: 13.3×, the middle of Huntington Bancshares' own P/E today, its peers' median and its sector's median (its peers' median) for the base scenario, 20% less and more for the cautious and optimistic ones. The price is brought back a year at 10%, 9% and 8%. Select one to load it into the calculator. These are the model's arithmetic on those assumptions, not a forecast or a price target.

Earnings per share, US$

Diluted earnings per share over the four quarters to March 31, 2026, from the 10-Qs and 10-K.

P/E multiple

P/E today is the last close divided by the latest earnings per share, the four quarters' where available. Peers: Citizens Financial Group, Regions Financial, KeyCorp, Fifth Third Bancorp.

Earnings growth in the years ahead (% a year) Starts at Huntington Bancshares' revenue growth over the last 3 years, 4.0% a year, as the base scenario does.

Earnings per share in the years ahead, US$

Year 1Year 2Year 3Year 4Year 5

Type your own estimate for any year; the years after it carry on at the growth rate.

Apply the multiple to earnings

A multiple on a future year's earnings gives the price then, brought back to today at the discount rate below.

Discount rate (% a year) The yearly return an investor wants for the risk, as in the cash flow model.

Value per share today at this multiple

—

Last close, October 26, 2026: $15.73
Value at this multiple, against the last close: —
Huntington Bancshares' P/E at the last close: 12.1×

Company	Last close	Earnings per share	P/E today
Fifth Third BancorpFITB	$53.10	$2.93	18.1×
Citizens Financial GroupCFG	$65.37	$4.60	14.2×
KeyCorpKEY	$21.21	$1.72	12.3×
Huntington BancsharesHBAN	$15.73	$1.30	12.1×
Regions FinancialRF	$28.61	$2.45	11.7×

How the P/E method works. Value per share is earnings per share times the multiple. On a future year's earnings, that gives the price in that year, which is brought back to today at the discount rate: price ÷ (1 + discount rate) for each year ahead. It is quick and easy to compare across companies, but it ignores debt and cash, and earnings can swing with one-off gains and charges, so a multiple says most about steady, profitable businesses. Like the cash flow model, the result depends entirely on the assumptions you choose. It is not a forecast, a price target or a recommendation.

Balance sheet

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Loans, net	109,237	117,402	119,727	127,798	147,105
Deposits	143,263	147,914	151,230	162,448	176,610
Loans to deposits	76.2%	79.4%	79.2%	78.7%	83.3%
Provision for credit losses	−1	212	407	361	466
Provision to average loans	−0.0%	0.2%	0.3%	0.3%	0.3%
Total assets	174,064	182,906	189,368	204,230	225,106
Shareholders' equity	19,297	17,731	19,353	19,740	24,342

US$ millions unless stated, at each fiscal year end.

Insider trades

Over the 12 months between October 27, 2025 and October 26, 2026, 4 insiders bought $1.8 million of Huntington Bancshares shares on the open market, and 9 insiders sold $8.0 million, $2.0 million of it under trading plans set up in advance.

Date	Insider	Trade	Shares	Price	Value	Filing
Aug 3, 2026	Kendall A KowalskiChief Information Officer	Sold	27,971	$17.20	$481,104	Form 4
Jun 25, 2026	Marcy C HingstSEVP and General Counsel	Sold plan	10,568	$18.00	$190,224	Form 4
Jun 12, 2026	James D Rollins IIIDirector	Sold	223,522	$17.35	$3.9 million	Form 4
Jun 4, 2026	James D Rollins IIIDirector	Bought	4,798	$20.30	$97,399	Form 4
Jun 3, 2026	James D Rollins IIIDirector	Bought	6,075	$19.79	$120,230	Form 4
Jun 2, 2026	James D Rollins IIIDirector	Bought	11,127	$16.50	$183,596	Form 4
Jun 1, 2026	Scott D KleinmanSenior Exec. V.P.	Sold plan	19,425	$16.20	$314,685	Form 4
Apr 28, 2026	James D Rollins IIIDirector	Bought	3,029	$21.05	$63,760	Form 4
Apr 27, 2026	James D Rollins IIIDirector	Bought	8,471	$18.01	$152,575	Form 4
Mar 12, 2026	Scott D KleinmanSenior Exec. V.P.	Sold plan	65,530	$15.28	$1.0 million	Form 4
Mar 12, 2026	Stephen D SteinourPresident, CEO & Chairman, Director	Bought	32,277	$15.49	$499,971	Form 4
Mar 12, 2026	Prashant NateriChief Corp Operations Officer	Sold	10,171	$15.50	$157,648	Form 4

The latest 12 of 27 trades. Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Compare

Put Huntington Bancshares side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Net margin	Return on equity	Return on tangible equity	Efficiency ratio	Compare
Huntington Bancshares	FY25	10.6%	27.1%	10.0%	15.0%	61.4%
Citizens Financial Group	FY25	5.6%	22.2%	7.2%	11.3%	64.4%	Compare
Regions Financial	FY25	6.2%	28.6%	11.7%	16.4%	57.3%	Compare
KeyCorp	FY25	62.6%	24.3%	9.5%	12.0%	62.6%	Compare
Fifth Third Bancorp	FY25	6.3%	28.0%	12.2%	17.3%	57.0%	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	3,519	4,309	4,510	4,667	4,815	5,991	7,254	7,360	7,385	8,166
Revenue growth	17.7%	22.4%	4.7%	3.5%	3.2%	24.4%	21.1%	1.5%	0.3%	10.6%
Net interest income	2,369	3,002	3,189	3,213	3,224	4,102	5,273	5,439	5,345	5,991
Noninterest income	1,150	1,307	1,321	1,454	1,591	1,889	1,981	1,921	2,040	2,175
Noninterest expense	2,408	2,714	2,647	2,721	2,795	4,375	4,201	4,574	4,562	5,015
Provision for credit losses	—	—	235	277	1,089	−1	212	407	361	466
Net income	712	1,186	1,393	1,411	817	1,295	2,238	1,951	1,940	2,211
Diluted EPS (US$)	0.70	1.00	1.20	1.27	0.69	0.90	1.45	1.24	1.22	1.39
Diluted shares (millions)	919	1,136	1,106	1,056	1,033	1,287	1,465	1,468	1,476	1,505
Payouts
Dividends paid	245	349	514	597	614	750	897	900	903	908
Share buybacks	0	260	939	441	92	650	0	0	0	0
Balance sheet at fiscal year end
Loans, net	66,324	69,426	74,128	74,621	79,794	109,237	117,402	119,727	127,798	147,105
Deposits	75,608	77,041	84,774	82,347	98,948	143,263	147,914	151,230	162,448	176,610
Total assets	99,714	104,185	108,781	109,002	123,038	174,064	182,906	189,368	204,230	225,106
Shareholders' equity	10,308	10,814	11,102	11,795	12,993	19,297	17,731	19,353	19,740	24,342
Ratios
Return on equity	8.4%	11.2%	12.7%	12.3%	6.6%	8.0%	12.1%	10.5%	9.9%	10.0%
Return on tangible common equity	9.8%	14.8%	16.9%	16.2%	8.2%	11.2%	19.5%	17.0%	15.3%	15.0%
Return on assets	0.8%	1.2%	1.3%	1.3%	0.7%	0.9%	1.2%	1.1%	1.0%	1.0%
Efficiency ratio	68.4%	63.0%	58.7%	58.3%	58.0%	73.0%	57.9%	62.1%	61.8%	61.4%

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Huntington Bancshares' Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Huntington Bancshares.