Huntington Bancshares (NASDAQ:HBAN) Issues Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Huntington Bancshares (NASDAQ:HBAN) issued its quarterly earnings results on Friday. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03, Briefing.com reports. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company posted $0.38 earnings per share.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $13.28 on Friday. The firm has a market cap of $19.26 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 2.47 and a beta of 1.11. Huntington Bancshares has a 12 month low of $9.13 and a 12 month high of $14.07. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $13.27 and a 200 day moving average price of $12.15.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.67%. Huntington Bancshares’s dividend payout ratio is 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the transaction, the director now owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,241 shares of company stock worth $1,360,359. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors have recently modified their holdings of the stock. O Dell Group LLC acquired a new position in shares of Huntington Bancshares during the 4th quarter worth about $110,000. CENTRAL TRUST Co grew its position in shares of Huntington Bancshares by 46.2% during the 3rd quarter. CENTRAL TRUST Co now owns 7,641 shares of the bank’s stock worth $101,000 after buying an additional 2,415 shares during the period. Covestor Ltd grew its position in shares of Huntington Bancshares by 70.3% during the 1st quarter. Covestor Ltd now owns 6,407 shares of the bank’s stock worth $94,000 after buying an additional 2,644 shares during the period. State of Wyoming grew its position in shares of Huntington Bancshares by 30.7% in the 2nd quarter. State of Wyoming now owns 6,721 shares of the bank’s stock valued at $72,000 after purchasing an additional 1,578 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in Huntington Bancshares in the 4th quarter valued at approximately $58,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on HBAN. Stephens restated an “equal weight” rating and set a $15.00 price target on shares of Huntington Bancshares in a research note on Monday, April 1st. DA Davidson upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $15.50 in a research note on Tuesday, February 27th. UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price target for the company from $14.00 to $15.00 in a research note on Wednesday, February 14th. Raymond James boosted their price target on Huntington Bancshares from $13.00 to $15.00 and gave the company a “strong-buy” rating in a research note on Tuesday, December 26th. Finally, Morgan Stanley upped their price objective on Huntington Bancshares from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.97.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.