Huntington Bancshares Incorporated (NASDAQ:HBAN) is expected to post earnings of $0.34 per share
Equity research analysts expect Huntington Bancshares Incorporated (NASDAQ: HBAN – Get a rating) to report earnings of $0.34 per share for the current quarter, Zacks Investment Research reports. Five analysts provided earnings estimates for Huntington Bancshares. The lowest EPS estimate is $0.33 and the highest is $0.35. Huntington Bancshares reported earnings per share of $0.35 in the same quarter last year, indicating a negative 2.9% year-over-year growth rate. The company is expected to release its next quarterly results on Monday, January 1.
According to Zacks, analysts expect Huntington Bancshares to report annual earnings of $1.42 per share for the current year, with EPS estimates ranging from $1.35 to $1.51. For the next fiscal year, analysts expect the company to post earnings of $1.52 per share, with EPS estimates ranging from $1.40 to $1.60. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts who cover Huntington Bancshares.
Huntington Bench Shares (NASDAQ: HBAN – Get a rating) last reported results on Thursday, April 21. The bank reported earnings per share of $0.32 for the quarter, beating analysts’ consensus estimate of $0.31 by $0.01. The company posted revenue of $1.65 billion for the quarter, versus a consensus estimate of $1.63 billion. Huntington Bancshares had a net margin of 26.96% and a return on equity of 12.19%. The company’s revenue for the quarter increased 20.3% year over year. During the same period of the previous year, the company made earnings per share of $0.48.
A number of brokerages have recently released reports on HBAN. Morgan Stanley cut its price target on shares of Huntington Bancshares from $18.00 to $17.00 and set an “equal weight” rating for the company in a Monday, March 28 research report. Raymond James cut his price target on shares of Huntington Bancshares from $19.00 to $18.00 and set a “strong buy” rating for the company in a Friday, April 22 research report. Stephens downgraded Huntington Bancshares shares from an “equal weight” rating to an “overweight” rating and raised its price target for the stock from $16.00 to $17.00 in a report of research from Monday, April 25. StockNews.com upgraded Huntington Bancshares shares from a “sell” to a “hold” rating in a Friday, April 22 research report. Finally, Bank of America cut shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a price target of $16.00 for the company. in a research report on Friday, April 8. One research analyst has assigned the stock a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned the stock a strong buy rating. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Hold” and a consensus price target of $17.71.
In other news, VP Steven Lee Rhodes sold 14,705 shares of the company in a transaction that took place on Monday, May 2. The stock was sold at an average price of $13.28, for a total value of $195,282.40. Following the completion of the transaction, the vice president now owns 127,581 shares of the company, valued at $1,694,275.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, director Richard H. King acquired 2,178 shares in a transaction dated Tuesday, April 26. The shares were purchased at an average cost of $13.78 per share, with a total value of $30,012.84. Following the purchase, the director now directly owns 75,492 shares of the company, valued at $1,040,279.76. Disclosure of this purchase can be found here. 0.72% of the shares are currently held by insiders.
Several institutional investors have recently increased or reduced their stake in the company. Johnson Investment Counsel Inc. increased its stake in shares of Huntington Bancshares by 0.8% in the third quarter. Johnson Investment Counsel Inc. now owns 77,326 shares of the bank valued at $1,207,000 after purchasing an additional 627 shares during the period. Gilbert & Cook Inc. increased its holdings of Huntington Bancshares shares by 4.2% during the 4th quarter. Gilbert & Cook Inc. now owns 15,898 shares of the bank worth $245,000 after buying 647 additional shares last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings of Huntington Bancshares shares by 0.4% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 147,444 shares in the bank worth $2,273,000 after buying an additional 649 shares last quarter. Whittier Trust Co. increased its holdings of Huntington Bancshares shares by 22.6% during the 4th quarter. Whittier Trust Co. now owns 3,740 shares of the bank worth $58,000 after buying an additional 690 shares last quarter. Finally, First Horizon Advisors Inc. increased its stake in shares of Huntington Bancshares by 11.2% in the 4th quarter. First Horizon Advisors Inc. now owns 7,121 shares of the bank worth $109,000 after buying 715 additional shares in the last quarter. 79.26% of the shares are held by institutional investors.
Shares of Actions of Huntington Bench traded down $0.28 during Tuesday’s trading, hitting $13.23. The company’s stock had a trading volume of 159,680 shares, compared to its average volume of 13,324,991. The company’s 50-day moving average price is $13.97 and its 200-day moving average price days is $15.09. The company has a market capitalization of $19.04 billion, a PE ratio of 11.40 and a beta of 1.18. Huntington Bancshares has a 52-week low of $12.56 and a 52-week high of $17.79. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt ratio of 0.40.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 1. Shareholders of record on Friday, June 17 will receive a dividend of $0.155 per share. This represents an annualized dividend of $0.62 and a yield of 4.69%. The ex-dividend date is Thursday, June 16. Huntington Bancshares payout ratio is 52.99%.
Huntington Bancshares Company Profile (Get a rating)
Huntington Bancshares Incorporated operates as a bank holding company for Huntington National Bank which provides commercial, consumer and mortgage banking services in the United States. The Company operates through four segments: Personal and Commercial Banking; The Commercial Bank; Vehicle financing; and Regional Banking and The Huntington Private Client Group (RBHPCG).
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