Huntington Bancshares cuts FY27 EPS target range to $1.75 to $1.83

Huntington Bancshares Inc. (HBAN) filed its presentation slides for the 2026 Barclays Global Financial Services Conference on Wednesday, September 16, 2026, disclosing a revised fiscal year 2027 earnings per share target range of $1.75 to $1.83 alongside updated operating assumptions.

Chairman and Chief Executive Officer Steve Steinour and Chief Financial Officer Zach Wasserman presented the slides at the conference. The company said in a regulatory filing that the revised outlook reflects prevailing macroeconomic and competitive conditions, including higher short-term interest rates and deposit pricing competition.

Key takeaways

• Revised fiscal year 2027 earnings per share target range is set at $1.75 to $1.83.
• Fiscal year 2027 loan growth assumption is projected at approximately 6%.
• Fiscal year 2027 net interest margin is expected in the low-mid 3.20s.
• Share repurchases are expected to increase to $1.3 billion to $1.4 billion.

Guidance and operating assumptions

The filing outlined baseline expectations for fiscal year 2027, projecting loan growth of approximately 6% and fee income growth at high-single digits. Operating leverage is projected at 300 basis points or greater. Net interest margin is anticipated in the low-mid 3.20s, supported by core funding and stable credit.

For fiscal year 2026, the company updated several metrics compared to previous expectations. Net interest income baseline growth is revised to approximately 35% from 39% to 43%. Average loan growth is expected at approximately 36%, and average deposit growth at approximately 33%. Noninterest income growth is pegged at approximately 32%.

Capital management and share repurchases

The bank updated its capital management plans, pointing to completed share buybacks of approximately $550 million and increasing expected share repurchases to a range of $1.3 billion to $1.4 billion. Adjusted earnings per share for fiscal year 2026 is targeted at $1.52 to $1.54, compared to $1.45 in fiscal year 2025.

Expense synergies from the Cadence and Veritex transactions remain on track, with Cadence cost synergies targeted at a $365 million run-rate by the fourth quarter of 2026. Revenue synergies for fiscal year 2026 are expected to exceed $75 million.

Why it matters

The updated projections address pressures from sustained high short-term interest rates and elevated deposit and loan pricing competition across the banking sector. The company cited lower-than-expected loan volume, increased paydowns in commercial real estate and residential mortgages, and lower auto production as drivers for the recalibrated outlook.

By the numbers

Outlook and conference participation

The presentation materials are furnished pursuant to Item 7.01 of Regulation FD and are available on the investor relations section of the company's website. The disclosures provide investors with updated guidance metrics heading into the final quarters of fiscal year 2026.