Brokerages expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to post $0.32 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Huntington Bancshares’ earnings. The lowest EPS estimate is $0.31 and the highest is $0.34. Huntington Bancshares reported earnings of $0.29 per share in the same quarter last year, which would suggest a positive year over year growth rate of 10.3%. The business is scheduled to announce its next earnings results on Thursday, January 23rd.
On average, analysts expect that Huntington Bancshares will report full-year earnings of $1.30 per share for the current fiscal year, with EPS estimates ranging from $1.29 to $1.31. For the next fiscal year, analysts expect that the company will report earnings of $1.32 per share, with EPS estimates ranging from $1.27 to $1.35. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 24th. The bank reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.17 billion. Huntington Bancshares had a net margin of 25.24% and a return on equity of 13.83%. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 earnings per share.
Several equities analysts have issued reports on the stock. Raymond James restated a “buy” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Friday, October 25th. BidaskClub upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating in a research note on Wednesday. DA Davidson restated a “neutral” rating on shares of Huntington Bancshares in a research note on Monday, November 18th. Bank of America downgraded shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Friday, October 25th. Finally, ValuEngine upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.10.
NASDAQ HBAN traded down $0.16 during trading hours on Friday, hitting $15.21. The company had a trading volume of 10,847,371 shares, compared to its average volume of 10,130,408. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.90 and a current ratio of 0.91. Huntington Bancshares has a 1-year low of $11.12 and a 1-year high of $15.43. The company has a market cap of $15.87 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 2.86 and a beta of 1.46. The business has a 50 day moving average of $14.75 and a 200-day moving average of $13.90.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.94%. Huntington Bancshares’s payout ratio is 50.00%.
In other news, EVP Rajeev Syal sold 25,167 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $14.50, for a total value of $364,921.50. Following the completion of the sale, the executive vice president now directly owns 182,143 shares of the company’s stock, valued at $2,641,073.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul G. Heller sold 7,144 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $14.76, for a total transaction of $105,445.44. Insiders sold 93,108 shares of company stock valued at $1,352,544 over the last ninety days. Corporate insiders own 1.22% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of HBAN. Nuveen Asset Management LLC raised its holdings in Huntington Bancshares by 6,315.5% during the second quarter. Nuveen Asset Management LLC now owns 5,523,273 shares of the bank’s stock worth $76,331,000 after purchasing an additional 5,437,181 shares in the last quarter. Invesco Ltd. raised its holdings in Huntington Bancshares by 34.3% during the second quarter. Invesco Ltd. now owns 13,409,707 shares of the bank’s stock worth $185,323,000 after purchasing an additional 3,427,585 shares in the last quarter. Royal Bank of Canada raised its holdings in Huntington Bancshares by 39.6% during the second quarter. Royal Bank of Canada now owns 8,735,469 shares of the bank’s stock worth $120,723,000 after purchasing an additional 2,476,376 shares in the last quarter. Boston Partners raised its holdings in Huntington Bancshares by 3.2% during the second quarter. Boston Partners now owns 28,056,162 shares of the bank’s stock worth $387,719,000 after purchasing an additional 878,068 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Huntington Bancshares by 0.7% during the second quarter. Vanguard Group Inc. now owns 119,979,155 shares of the bank’s stock worth $1,658,111,000 after purchasing an additional 877,364 shares in the last quarter. 74.88% of the stock is owned by hedge funds and other institutional investors.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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