Analysts Anticipate Huntington Bancshares Incorporated (NASDAQ:HBAN) Will Announce Quarterly Sales of $1.07 Billion
Wall Street analysts predict that Huntington Bancshares Incorporated (NASDAQ:HBAN) will post $1.07 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Huntington Bancshares’ earnings, with estimates ranging from $1.06 billion to $1.09 billion. Huntington Bancshares posted sales of $776.99 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 37.7%. The business is scheduled to issue its next quarterly earnings results before the market opens on Friday, July 21st.
On average, analysts expect that Huntington Bancshares will report full-year sales of $1.07 billion for the current year, with estimates ranging from $4.27 billion to $4.40 billion. For the next fiscal year, analysts expect that the business will report sales of $4.57 billion per share, with estimates ranging from $4.47 billion to $4.67 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Wednesday, April 19th. The bank reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by $0.01. The business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. Huntington Bancshares had a net margin of 17.54% and a return on equity of 11.07%. The firm’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.20 EPS.
Several equities research analysts recently issued reports on the company. Piper Jaffray Companies reissued a “neutral” rating and issued a $14.00 price objective (down from $14.50) on shares of Huntington Bancshares in a research note on Saturday, April 22nd. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a research note on Monday, July 3rd. Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research note on Tuesday, April 11th. Jefferies Group LLC raised Huntington Bancshares from a “hold” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 3rd. Finally, FBR & Co reissued a “mkt perform” rating and issued a $14.00 price objective (down from $15.00) on shares of Huntington Bancshares in a research note on Thursday, April 20th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $14.23.
In related news, EVP Andrew J. Harmening acquired 15,490 shares of the stock in a transaction dated Monday, May 15th. The shares were acquired at an average price of $12.92 per share, with a total value of $200,130.80. Following the acquisition, the executive vice president now owns 35,543 shares in the company, valued at approximately $459,215.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen D. Steinour acquired 50,000 shares of the stock in a transaction dated Thursday, May 18th. The shares were bought at an average cost of $12.40 per share, for a total transaction of $620,000.00. Following the acquisition, the chief executive officer now owns 3,891,831 shares in the company, valued at approximately $48,258,704.40. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Beese Fulmer Investment Management Inc. raised its position in shares of Huntington Bancshares by 0.4% in the second quarter. Beese Fulmer Investment Management Inc. now owns 365,824 shares of the bank’s stock worth $4,946,000 after buying an additional 1,626 shares in the last quarter. OLD National Bancorp IN raised its position in shares of Huntington Bancshares by 1.2% in the second quarter. OLD National Bancorp IN now owns 19,152 shares of the bank’s stock worth $259,000 after buying an additional 220 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Huntington Bancshares during the second quarter worth approximately $146,000. Mn Services Vermogensbeheer B.V. raised its position in shares of Huntington Bancshares by 509.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 176,262 shares of the bank’s stock worth $2,383,000 after buying an additional 147,332 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its position in shares of Huntington Bancshares by 1.9% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 956,607 shares of the bank’s stock worth $12,933,000 after buying an additional 17,716 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Huntington Bancshares (NASDAQ:HBAN) opened at 13.79 on Friday. The stock has a market cap of $14.99 billion, a PE ratio of 20.46 and a beta of 1.37. The firm has a 50-day moving average price of $12.90 and a 200 day moving average price of $13.29. Huntington Bancshares has a 12-month low of $8.23 and a 12-month high of $14.74.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 19th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, June 15th. Huntington Bancshares’s dividend payout ratio is 49.23%.
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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