S&P 500 Hovers at Record High, Hang Seng and Nikkei 225 Eye Pullback
S&P 500, HANG SENG, NIKKEI 225, ASIA-PACIFIC MARKET OUTLOOK:
The S&P 500 index closed marginally higher as tech gained, but two thirds of the stocks fell
Asia-Pacific indices look set to pull back slightly from their recent highs
Southbound inflow in HK via stock connections fell for a second day, risking a pullback in the HSI
S&P 500, Hang Seng, Earnings, Asia-Pacific Stocks Outlook:
Asia-Pacific stocks look set to open broadly lower after Wall Street saw a mixed trading session. The S&P 500 index edged marginally higher, led by heavy-weight information technology (+1.32%), consumer discretionary (+0.55%) and communication services (+0.26%), while two thirds of its constituents finished lower. Investors are perhaps looking for fresh catalysts to support Wall Street’s record-breaking rally when stock market valuations are close to two-decade highs.
In the current market session,
Huntington Bancshares Inc. (NASDAQ:HBAN) is trading at $14.28, after a 1.62% drop. However, over the past month, the stock spiked by 14.53%, and in the past year, by 5.78%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is not performing up to par in the current session.
Assuming that all other factors are held constant, this could present itself as an opportunity for shareholders trying to capitalize on the higher share price. The stock is currently under from its 52 week high by 5.59%.
The P/E ratio measures the current share price to the company s earnings per share. It is used by long-term investors to analyze the company s current performance against its past earnings, historical data and aggregate market data for the industry or the indices, such as S&P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not ne
The bank holding firm s net interest margin jumps to 2.94%.
Huntington reports £598.13 million of net income in fiscal 2020.
Huntington Bancshares Inc. (NASDAQ: HBAN) reported £231.35 million of net income in the fiscal fourth quarter on Friday. The company said that it earned 19.77 pence per share that translates to a 4% annualised decline. Huntington’s quarterly report comes a month after the 39
th largest U.S. bank said it will acquire TCF Financial for £4.5 billion.
Huntington Bancshares opened about 3% down on Friday but gained close to 1% in the next hour. The price action should come in handy if you’re interested in investing in the stock market.
Huntington Bancshares Incorporated Reports Full Year 2020 Earnings
Results Include Record Annual Revenue (+3%), a 6% Increase in Average Loans, and an 11% Increase in Average Core Deposits
News provided by
Share this article
Full year 2020 highlights compared to full year 2019:
Net income was $817 million, and earnings per common share (EPS) for the year were $0.69.
Return on average assets for 2020 was 0.70%, return on average common equity was 6.8%, and return on average tangible common equity was 8.9%.
Tangible book value per common share (TBVPS) increased 3% to $8.51 at 2020 year end.
Fully-taxable equivalent total revenue increased $143 million, or 3%, to $4.8 billion.
Fully-taxable equivalent net interest income increased $6 million, or less than 1%, to $3.2 billion.
Operator
Greetings, and welcome to the Huntington Bancshares Fourth Quarter 2020 earnings conference call. [Operator Instructions] A question-and-answer session will follow the formal presentation. [Operator Instructions].
I d now like to turn the conference over to your host, Mr. Mark Muth, Director of Investor Relations.
Mark Muth
Director of Investor Relations
Thanks you, Melissa. Welcome. I m Mark Muth, Director of Investor Relations for Huntington. Copies of the slides we ll be reviewing can be found on the Investor Relations section of our website, www.huntington.com. This call is being recorded and will be available as a rebroadcast starting about one hour from the close of the call.