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Why Huntington Bancshares' Stock Rose Today

Bram Berkowitz, The Motley Fool
·1-min read
Why Huntington Bancshares' Stock Rose Today

Shares of Huntington Bancshares (NASDAQ: HBAN) gained nearly 9.5% today after the large regional bank reported third-quarter earnings results. Net interest income (NII), the profit banks make on loans and securities after covering the cost to fund those assets, rose 11% from the previous quarter as the bank benefited from the higher interest rate environment. Furthermore, management raised its guidance for NII for the fourth quarter and now expects NII to increase in the high-20s-to-low-30s percentage range year over year, thanks to the rate environment and projected high-single-digit percentage loan growth as well.

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