Huntington Bancshares Updates FY26 & FY27 Financial Outlook at Barclays Conference

Executive Summary

Huntington Bancshares Incorporated (NASDAQ: HBAN) filed a Current Report on Form 8-K under Item 7.01 (Regulation FD Disclosure) regarding its presentation at the 2026 Barclays Global Financial Services Conference on September 16, 2026, presented by CEO Steve Steinour and CFO Zachary Wasserman.

Key Financial Updates & Guidance Revisions

1. FY 2026 Guidance Revisions

• Net Interest Income (NII): Revised to ~35% growth over FY25 baseline ($6.056B), down from prior guidance of 39%–43%.
• Average Loans: Maintained steady growth expectation at ~36% (prior: 36%–37%).
• Average Deposits: Maintained at ~33% (prior: 33%–34%).
• Noninterest Income (ex-securities gains/losses): Revised to ~32% growth (prior: 31%–33%).
• Implied Revenue Growth: Adjusted to ~34% (prior: ~37%).
• Core Expenses: Unchanged at 32.5%–33.5% growth.
• Net Charge-Offs (NCOs): Expected at 25–35 bps.
• Effective Tax Rate: Lowered to ~18% (prior: 19%–20%).

2. FY 2027 Targets

• EPS Target Range: Established at $1.75 – $1.83.
• Capital Return: Expanding planned share buybacks to $1.3B – $1.4B (following expected ~$550M in FY26).
• Return Metrics: Targeting FY27 ROTCE of 17%–18%.
• Loan Growth & NIM: Expected loan growth of 6%–8% and NIM in the low-to-high 3.20s range.

Drivers of Outlook Adjustments

• Rate & Margin Dynamics: Elevated short-term rates continue to pressure deposit costs across the sector.
• Loan Portfolio Volume & Mix: Faster-than-anticipated paydowns in Commercial Real Estate (CRE) and residential lending, combined with reduced auto loan production to preserve risk-adjusted returns.
• Synergies: Cadence expense run-rate synergies reaching $365M by 4Q26 and Veritex synergies reaching $70M run-rate by 2Q26 ($435M combined).