The company reported earnings of $149.1 million, or 17 cents a share, down from $153.3 million, or 17 cents a share, in the same period one year earlier. Revenue rose less than 1% year over year to $691.9 million. Analysts polled by Thomson Reuters had expected earnings of 17 cents a share on revenue of $676 million.
Net interest margin, a crucial metric for measuring profitability, declined year over year to 3.27% from 3.42%.
The bank also authorized a $250 million share repurchase program, which is approximately 10% larger than the program it recently completed.
Huntington also incurred $12 million in expenses from its acquisition of Camco Financial, which it announced in October. The company's litigation reserve also increased by $9 million.
The stock was down 2.43% to $9.24 at 11:11 a.m. on Thursday.
Separately, TheStreet Ratings team rates HUNTINGTON BANCSHARES as a "buy" with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate HUNTINGTON BANCSHARES (HBAN) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, expanding profit margins and attractive valuation levels. We feel these strengths outweigh the fact that the company shows weak operating cash flow."