Latest news with #VeritexHoldings
Yahoo
a day ago
- Business
- Yahoo
Huntington Bank CFO: Q2 Earnings Were "Phenomenal"
Huntington Bancshares boosted its net interest income growth forecast for the full year. The bank also agreed to buy Veritex Holdings Inc., which operates more than 30 bank branches in Texas, for $1.9 billion in an all-stock transaction. Adding Veritex, which had about $13 billion in assets as of March 31, will help Huntington expand in key Texas markets including Dallas and Houston, according to a statement Monday. Huntington Bank CFO Zach Wasserman said the acquisition allows Huntington to expand into an "attractive" market" Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
a day ago
- Business
- Bloomberg
ICYMI: Huntington Banking on Texas
It was big week for Huntington Bancshares, which agreed to buy Veritex Holdings for $1.9 billion in stock, expanding its presence in Dallas, Fort Worth and Houston. The acquisition is aimed at accelerating Huntington's organic growth initiatives in high-growth Texas markets. Meanwhile the Ohio-based lender also reported strong quarterly earnings, reflecting growth in loans and deposits, sustained strong revenue and profit growth, as well as continued excellent credit performance Zach Wasserman, CFO of Huntington Bancshares, explains why Texas is so important to his the company's broader strategy, and also addresses what uncertainty over Federal Reserve policy and leadership mean for the financial sector. Zach speaks with Tim Stenovec, Sonali Basak and Nina Trentmann on Bloomberg Businessweek Daily.
Bloomberg
a day ago
- Business
- Bloomberg
Huntington Bank CFO: Q2 Earnings Were "Phenomenal"
Huntington Bancshares boosted its net interest income growth forecast for the full year. The bank also agreed to buy Veritex Holdings Inc., which operates more than 30 bank branches in Texas, for $1.9 billion in an all-stock transaction. Adding Veritex, which had about $13 billion in assets as of March 31, will help Huntington expand in key Texas markets including Dallas and Houston, according to a statement Monday. Huntington Bank CFO Zach Wasserman said the acquisition allows Huntington to expand into an "attractive" market" (Source: Bloomberg)
Yahoo
a day ago
- Business
- Yahoo
Huntington Bancshares (HBAN) Reports Higher Earnings With US$1,467 Million Net Interest Income
Huntington Bancshares recently reported increased earnings for the second quarter, with net income rising slightly from the previous year and significant growth in net interest income. During the last quarter, Huntington's stock price increased by 24%, a notable move in comparison to a flat market. The company's potential acquisition of Veritex Holdings and declared dividend on its preferred stock might have bolstered investor sentiment, aligning with strong overall market conditions despite some setbacks, such as declines in major stocks like Netflix and Amex. This favorable market climate for earnings likely contributed to Huntington's robust shareholder returns. We've identified 1 warning sign for Huntington Bancshares that you should be aware of. AI is about to change healthcare. These 26 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10b in market cap - there's still time to get in early. The recent rise in Huntington Bancshares' stock price by 24% in the last quarter reflects a positive shift in investor sentiment, possibly driven by increased earnings and net interest income. This change aligns well with Huntington's strategy to expand in high-fee revenue areas and manage deposits efficiently, projecting a stable earnings path despite looming economic uncertainties. The news of a potential acquisition could further bolster revenue and earnings forecasts, as it aims to enhance the company's long-term growth prospects. Analysts predict earnings to rise to US$2.3 billion by 2028, although the risks of economic uncertainties and competitive pressures could challenge these expectations. The current share price of $16.98 represents a discount to its consensus price target of approximately $19.15, suggesting room for potential upward movement, subject to realizing growth projections. Over the past five years, Huntington's total shareholder return, including share price and dividends, reached a very large 120.59%, indicating strong performance over the long term. When contrasted with its recent 12-month performance, the stock has outpaced the broader US Market and remained on par with the US Banks Industry average of 18.4%. Notably, the board's authorization for a US$1 billion share repurchase reflects its confidence in sustaining robust shareholder returns. As the company's earnings grew 17.9% over the last year, surpassing its 5-year average of 16.5% annually, this historic growth underlines Huntington's potential to maintain an attractive total return for its shareholders moving forward. Evaluate Huntington Bancshares' historical performance by accessing our past performance report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include HBAN. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Veritex Holdings: Q2 Earnings Snapshot
DALLAS (AP) — DALLAS (AP) — Veritex Holdings Inc. (VBTX) on Friday reported second-quarter net income of $30.9 million. The Dallas-based bank said it had earnings of 56 cents per share. The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share. The bank holding company posted revenue of $188.6 million in the period. Its revenue net of interest expense was $109.8 million, which missed Street forecasts. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on VBTX at
