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Huntington Shares Slide After Fourth-Quarter Profit Falls 5.7%

Jan. 16 (Bloomberg) -- Huntington Bancshares Inc. fell the most in more than four months after fourth-quarter profit declined 5.7 percent from a year earlier.

Huntington slid 3.5 percent to $9.55 at 10:33 a.m. in New York, the most intraday since Aug. 27. The stock was the second-worst performer in the 24-company KBW Bank Index after Citigroup Inc.

Net income for the three months ended Dec. 31 dropped to $157.8 million, or 18 cents a share, from $167.3 million, or 19 cents, a year earlier, the Columbus, Ohio-based lender said today in a statement. The average estimate of 26 analysts surveyed by Bloomberg News was for profit of 17 cents.

Noninterest income fell 17 percent in the quarter to $246.6 million from a year earlier as mortgage banking income slid 61 percent. Total revenue declined 7 percent to $685.5 million, according to the statement.

The bank, which operates in six Midwestern states, announced in October that it would buy Camco Financial Corp. for $82.4 million. Cambridge, Ohio-based Camco has branches in Ohio, Kentucky and West Virginia, according to the company.

To contact the reporter on this story: Sarah Jacob in New York at sjacob19@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net

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