Latest news with #WealthManagement
Yahoo
2 days ago
- Business
- Yahoo
Huntington Bancshares Inc (HBAN) Q2 2025 Earnings Call Highlights: Strong Growth and Strategic ...
Earnings Per Share (EPS): $0.34, including a $0.04 impact from securities repositioning and a notable item. Adjusted EPS Growth: 27% year over year. Return on Tangible Common Equity (ROTCE): 16.1%; adjusted ROTCE at 17.6%. Average Loan Growth: $2.3 billion or 1.8% from the prior quarter; 7.9% year over year. Average Deposit Growth: $1.8 billion or 1.1% from the prior quarter. Common Equity Tier 1 (CET1): Reported at 10.5%; adjusted CET1 at 9%. Tangible Book Value Per Share: Increased 16% year over year. Net Charge-Offs: 20 basis points. Allowance for Credit Losses: 1.86%. Revenue Growth: 8% year over year. Pre-Provision Net Revenue (PPNR) Growth: 8% reported; 15% adjusted year over year. Net Interest Income Growth: 2.9% sequentially; 12% year over year. Net Interest Margin (NIM): 3.11%, up 1 basis point from the prior quarter. Non-Interest Income Growth: 7% year over year. Payments Revenue Growth: 7% year over year. Wealth Management Fee Growth: 13% year over year. Capital Markets Growth: 15% year over year. Non-Interest Expense: $1.2 billion for the quarter. Full-Year Loan Growth Guidance: Increased to 6% to 8%. Full-Year Deposit Growth Guidance: Increased to 4% to 6%. Full-Year Net Interest Income Guidance: Increased to 8% to 9%. Full-Year Fee Income Growth Guidance: 4% to 6%. Full-Year Expense Growth Guidance: 5% to 6%. Full-Year Net Charge-Off Guidance: Lowered to 20 to 30 basis points. Warning! GuruFocus has detected 6 Warning Sign with HBAN. Release Date: July 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Huntington Bancshares Inc (NASDAQ:HBAN) reported strong operating performance with robust organic growth in loans, deposits, and fees, exceeding their plans for the year. The company is driving strong revenue and profit growth year over year, supported by earning asset growth, expanded net interest margin, and positive operating leverage. Credit performance remains stable with a low level of losses, reflecting proactive management of loan portfolios and disciplined customer selection. The acquisition of Veritex is expected to significantly accelerate growth in Texas, bringing new opportunities in commercial lending and capital markets. Huntington Bancshares Inc (NASDAQ:HBAN) demonstrated strong liquidity with 2 times coverage of uninsured deposits and a 16% increase in tangible book value year over year. Negative Points Non-interest bearing deposits decreased, raising concerns about potential shifts in customer behavior towards higher-yielding products. The growth from new initiatives slowed this quarter, which could indicate increased competition or market saturation. There is uncertainty regarding the stability of the economic environment, which could impact the company's ability to hit the higher end of its net interest income guidance range. The company faces potential headwinds from economic uncertainties and the competitive environment in deposit gathering. Operating expenses are expected to increase due to higher incentive compensation and volume-related drivers, which could impact overall profitability. Q & A Highlights Q: Zach, regarding the new net interest income guidance range, what do you see as the threats to hitting the higher end of that range? A: Zachary Wasserman, CFO, mentioned that they are well on track to potentially hit the higher end of the range. He noted that the momentum in loans and stable net interest margin (NIM) are key factors. The primary concern would be the stability of the economic environment, but currently, there are no substantial threats anticipated. Q: Can you provide feedback from internal and external partners on the Veritex acquisition announcement? A: Stephen Steinour, CEO, and Brant Standridge, President of Consumer and Regional Banking, reported positive feedback. Long-term shareholders encouraged strategic acquisitions, and the Veritex team is seen as a great fit. The acquisition is expected to enhance Huntington's presence in Texas, with Malcolm Holland joining as Chairman of Texas. Q: Zach, can you discuss the differentiation in deposit trends among regional banks and how Huntington is managing deposit growth and costs? A: Zachary Wasserman, CFO, highlighted that deposit growth exceeded expectations, driven by primary bank relationships. Deposit costs trended down, and the expectation is for stable costs assuming no rate cuts. If rates decrease, there could be further opportunities to reduce costs. Q: How are Veritex lenders reacting to Huntington's acquisition, and has it led to any inbound inquiries from other Texas teams? A: Brant Standridge, President of Consumer and Regional Banking, noted excitement among Veritex colleagues and customers due to Huntington's broader capabilities. The local structure and leadership in Texas are seen positively, and there have been inbound inquiries from other Texas teams. Q: Zach, can you explain the change in the expense guide and whether higher net interest income would lead to higher expenses? A: Zachary Wasserman, CFO, explained that the primary driver of higher expenses is increased incentive compensation due to better revenue and profit outlooks. If net interest income reaches the higher end of the guidance range, expenses are expected to align with that. Q: Can you provide an update on the buildout in the Carolinas and the outlook for branch openings? A: Brant Standridge, President of Consumer and Regional Banking, expressed optimism about growth in North and South Carolina. The economic performance in these regions is strong, and Huntington plans to open more than 20 branches next year, continuing to invest in these markets. Q: How is Huntington managing its funding strategy, particularly regarding deposit growth and liquidity? A: Zachary Wasserman, CFO, explained that Huntington is optimizing funding and loan growth to drive the best net interest margin. The deposit gathering program is ongoing, and sequential growth is expected in Q4, with deposit growth expected to match loan growth over the longer term. Q: How is Huntington addressing the increase in non-performing assets in the C&I sector? A: Brendan Lawlor, Chief Credit Officer, noted that criticized loans decreased, and the increase in non-performing assets was due to one-off transactions. Overall credit quality remains strong, with improvements in the deeper part of the criticized book. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
Yahoo
2 days ago
- Business
- Yahoo
Christopher Brolly joins UBS as Financial Advisor in Boston
BOSTON, July 18, 2025--(BUSINESS WIRE)--UBS Global Wealth Management US announced that Christopher Brolly has joined the firm as a Financial Advisor. He joins the UBS Greater New England Market, led by Market Executive James Ducey, and will report to Boston Wealth Management Senior Market Director Robert Covino. "Christopher brings a wealth of experience and a devout commitment to client service with him to UBS," said Robert Covino. "We are confident that his expertise will greatly benefit our clients and contribute to our continued success here in the greater Boston market. We are excited to welcome him to our team." Christopher has over 15 years of experience providing advice and financial planning services for high and ultra-high net worth clients. He joins UBS from Morgan Stanley where he served as a Financial Advisor since 2012. Prior to that, he worked as a Financial Advisor at Merrill Lynch from 2008 to 2012, an Associate at Corwin & Corwin LLP from 2006 to 2008, and a Team Leader at Forrester Research from 1999 to 2002. Christopher holds a Juris Doctor from Boston University School of Law and a Bachelor of Arts from Syracuse University. Christopher is actively involved in his community in Marblehead, MA, where he has lived for the past 17 years. He is a dedicated member of Our Lady, Star of the Sea Parish and supports several parish initiatives, including the food pantry, clothing drive, and other philanthropic holiday programs. He is also a member of the Gerry 5 Veteran Fireman's Association and the Corinthian Yacht Club. Notes to Editors About UBSUBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. UBS manages 6.1 trillion dollars of invested assets as per fourth quarter 2024. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE). © UBS 2025. All rights reserved. The key symbol and UBS are among the registered and unregistered trademarks of UBS. View source version on Contacts Media: Christina 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
Regions Financial lifts annual interest income forecast above estimates
(Reuters) -U.S. regional lender Regions Financial on Friday raised its annual interest income forecast above Wall Street expectations, betting on prudent management of deposit costs and stable loan demand. Some banks in the country are starting to benefit from steadier funding conditions and improved lending trends, after months of pressure from elevated deposit costs and subdued loan demand. "We are experiencing solid deposit growth, disciplined loan production and strong performance across fee-based businesses, including Treasury Management and Wealth Management," Regions Financial CEO John Turner said. The bank expects its full-year interest income to grow between 3% and 5%, up from its prior view of 1% to 4%. Analysts on average estimate a 2.35% increase, according to estimates compiled by LSEG. Net interest income is a key profit driver for mid-sized banks such as Regions, making its growth vital as the sector contends with elevated rates and tighter liquidity. Regions' upbeat forecast points to strengthening core lending operations. The bank also expects loans to be stable or gain modestly in 2025. Interest income in the second quarter grew 6.2% to $1.26 billion, while net interest margin expanded to 3.65% from 3.51% a year earlier. Regions ended the quarter with $126 million in provision for credit losses, compared with $102 million a year earlier. Provisioning is often seen as a gauge of the economic outlook, with uncertainty prompting banks to set aside more funds in case consumers and businesses struggle to repay commercial loans, credit card debt or mortgages. Regions posted earnings of 59 cents per share in the three months ended June 30, compared with 52 cents apiece a year ago. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Morgan Stanley's revenue and net income increase in Q2 2025
Financial services company Morgan Stanley has reported net revenues of $16.8bn for the second quarter (Q2) ending 30 June 2025, an increase from $15bn in the same quarter of the previous year. The net income applicable to Morgan Stanley reached $3.5bn, translating to $2.13 per diluted share, compared to $3.1bn or $1.82 per diluted share in the prior year's quarter. The wealth management division generated net revenues of $7.8bn, up from $6.8bn a year earlier, with a pre-tax income of $2.2bn, resulting in a pre-tax margin of 28.3%. The investment management segment reported net revenues of $1.6bn, an increase from $1.4bn in the previous year, with pre-tax income rising to $323m from $222m. Institutional securities also saw growth, with net revenues of $7.6bn compared to $7bn a year ago, and pre-tax income increasing to $2.1bn from $2bn. Morgan Stanley chairman and CEO Ted Pick said: 'Morgan Stanley delivered another strong quarter. Six sequential quarters of consistent earnings – $2.02, $1.82, $1.88, $2.22, $2.60 and $2.13 – reflect higher levels of performance in different market environments. 'Institutional securities saw strength and balance across businesses and geographies. Wealth continues to deliver, adding $59bn of net new assets and $43bn of fee-based flows.' During the quarter, the firm repurchased $1bn of its common stock as part of its share repurchase programme. Additionally, the board of directors has reauthorised a multi-year common equity share repurchase programme of up to $20bn, which will commence in the third quarter of 2025 and does not have a set expiration date. In November 2024, Morgan Stanley launched its new Southeast Asia headquarters in Singapore's prestigious downtown business district. "Morgan Stanley's revenue and net income increase in Q2 2025" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Finextra
3 days ago
- Business
- Finextra
Advanta Wealth selects Aveni AI for customer service
specialists in AI for Financial Services, has been selected by Advanta Wealth, the nationwide chartered wealth management business to enhance adviser customer service and reduce administrative time. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. The business has adopted Aveni Assist across its team of advisers as part of a strategic technology implementation programme to enhance client experience. The Aveni Assist solution is an AI assistant for advisers, allowing them to record and capture key information from face to face and online meetings, automate note taking and create suitability reports. This allows Advanta's advisers to focus on offering more informed and engaged discussions with clients, rather than note taking during important discussions. This is the first adoption of AI-specific tools by Advanta Wealth incorporated into their day-to-day operations. It was implemented in tandem with a strategic change management project to bring together the business and address business goals and support a positive cultural evolution towards greater use of technology in the delivery of wealth advice. In addition to client interactions, Aveni Assist is also used internally to record and share information from meetings, which is also increasing productivity across the business. Mark Pearson, Managing Director at Advanta Wealth said: 'We are very focused on people - our teams and our clients - and we want to enhance their experiences overall. Technology transformation is central to this, bringing in the right tools to allow our advisers to really focus on the part of the job they are passionate about - talking to and helping their client - and letting the technology handle the administrative element.' Kevin D'Arcy, Group Head of Operations at Advanta Wealth said: 'We did understand how important it was to get the implementation right and bring our team along on this journey so we invested in a tailored change management consultation to support this. We have seen really positive feedback from our team and the response to the tools has been excellent, and we are very pleased with the results and business impact so far. We've been really well supported by Aveni as we have gone through this process and we are considering other areas of our business where AI implementation can also bring benefits.' Robbie Homer-Plews, Chief Client Officer at Aveni explains, 'Advanta Wealth has been an excellent example of how to drive positive technology transformation across its business. They considered the benefits of using AI tools to help maximise human interaction, but also acknowledged the potential adoption challenges with new technology and a shift in working practice. The investment made by Advanta Wealth to address this holistically is bringing benefits to staff and clients and already is driving some very positive time savings. We look forward to continuing to work together as this blend of human and AI approach expands across the business.'
