Zacks: Brokerages Expect Huntington Bancshares Incorporated (HBAN) Will Post Earnings of $0.23 Per Share
Analysts predict that Huntington Bancshares Incorporated (NASDAQ:HBAN) will report earnings of $0.23 per share for the current quarter, according to Zacks. Six analysts have made estimates for Huntington Bancshares’ earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.26. Huntington Bancshares reported earnings per share of $0.21 in the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The company is scheduled to issue its next earnings report on Thursday, July 20th.
According to Zacks, analysts expect that Huntington Bancshares will report full year earnings of $0.94 per share for the current year, with EPS estimates ranging from $0.89 to $0.97. For the next fiscal year, analysts expect that the business will report earnings of $1.09 per share, with EPS estimates ranging from $1.05 to $1.12. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Wednesday, April 19th. The bank reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. Huntington Bancshares had a net margin of 18.11% and a return on equity of 11.09%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s revenue was up 39.8% on a year-over-year basis.
A number of analysts recently issued reports on the stock. Sanford C. Bernstein raised their target price on shares of Huntington Bancshares from $14.00 to $16.00 and gave the stock a “market perform” rating in a research report on Thursday, January 26th. Hilliard Lyons lowered shares of Huntington Bancshares from a “buy” rating to a “neutral” rating in a research report on Thursday, January 26th. Zacks Investment Research lowered shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, February 14th. Keefe, Bruyette & Woods set a $14.00 target price on shares of Huntington Bancshares and gave the stock a “hold” rating in a research report on Monday, April 3rd. Finally, Jefferies Group LLC upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and raised their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 3rd. Ten investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $13.96.
Huntington Bancshares (NASDAQ:HBAN) traded down 0.54% on Wednesday, reaching $12.82. The company had a trading volume of 4,360,094 shares. Huntington Bancshares has a 52-week low of $8.05 and a 52-week high of $14.74. The stock has a market capitalization of $13.94 billion, a PE ratio of 19.02 and a beta of 1.24. The stock has a 50 day moving average price of $12.88 and a 200 day moving average price of $13.18.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 19th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, June 15th. Huntington Bancshares’s dividend payout ratio (DPR) is 47.06%.
In other news, CEO Stephen D. Steinour purchased 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The shares were purchased at an average price of $12.40 per share, with a total value of $620,000.00. Following the purchase, the chief executive officer now directly owns 3,891,831 shares of the company’s stock, valued at approximately $48,258,704.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Inglis purchased 7,142 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were purchased at an average cost of $14.06 per share, for a total transaction of $100,416.52. Following the purchase, the director now directly owns 7,142 shares in the company, valued at $100,416.52. The disclosure for this purchase can be found here. Insiders have purchased a total of 72,632 shares of company stock worth $920,547 in the last ninety days. 1.65% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui Asset Management Company LTD increased its stake in Huntington Bancshares by 42.5% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 84,735 shares of the bank’s stock valued at $835,000 after buying an additional 25,256 shares during the last quarter. Virginia Retirement Systems ET AL increased its stake in Huntington Bancshares by 151.0% in the third quarter. Virginia Retirement Systems ET AL now owns 171,700 shares of the bank’s stock valued at $1,693,000 after buying an additional 103,300 shares during the last quarter. Advance Capital I Inc. bought a new stake in Huntington Bancshares during the third quarter valued at $227,000. Stratos Wealth Partners LTD. increased its stake in Huntington Bancshares by 21.0% in the third quarter. Stratos Wealth Partners LTD. now owns 119,889 shares of the bank’s stock valued at $1,182,000 after buying an additional 20,830 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado increased its stake in Huntington Bancshares by 6.5% in the third quarter. Public Employees Retirement Association of Colorado now owns 1,002,655 shares of the bank’s stock valued at $9,886,000 after buying an additional 61,456 shares during the last quarter. 70.49% of the stock is currently owned by hedge funds and other institutional investors.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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