Huntington Bancshares (NASDAQ:HBAN) Issues Quarterly Earnings Results

Huntington Bancshares (NASDAQ:HBAN) announced its quarterly earnings results on Thursday. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03, Zacks reports. Huntington Bancshares had a return on equity of 11.23% and a net margin of 16.23%.

Huntington Bancshares Stock Down 1.0 %

Huntington Bancshares stock opened at $13.27 on Thursday. The stock has a market cap of $19.38 billion, a PE ratio of 10.79, a P/E/G ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.89 and a quick ratio of 0.88. The stock’s fifty day moving average is $14.99 and its two-hundred day moving average is $16.01. Huntington Bancshares has a 1-year low of $11.92 and a 1-year high of $18.45.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a dividend of $0.155 per share. The ex-dividend date was Tuesday, March 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.67%. Huntington Bancshares’s payout ratio is currently 50.41%.

Insider Activity

In other Huntington Bancshares news, VP Scott D. Kleinman sold 69,088 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.67, for a total value of $1,013,520.96. Following the transaction, the vice president now directly owns 453,129 shares in the company, valued at $6,647,402.43. This represents a 13.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brendan A. Lawlor sold 3,521 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the sale, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. The trade was a 6.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,781 shares of company stock worth $1,631,151. 0.89% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HBAN shares. Robert W. Baird upgraded shares of Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 price target for the company in a research report on Friday, March 7th. Piper Sandler cut their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 21st. Stephens restated an “equal weight” rating and set a $18.50 price target on shares of Huntington Bancshares in a research report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a report on Tuesday, January 21st. Finally, Truist Financial raised their target price on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $17.94.

About Huntington Bancshares

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.