Huntington Bancshares Incorporated to Post Q3 2017 Earnings of $0.25 Per Share, Wedbush Forecasts (HBAN)
Huntington Bancshares Incorporated (NASDAQ:HBAN) – Investment analysts at Wedbush issued their Q3 2017 earnings per share estimates for Huntington Bancshares in a report released on Sunday. Wedbush analyst P. Winter expects that the bank will earn $0.25 per share for the quarter.
A number of other equities analysts have also recently issued reports on the stock. 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 Saturday, June 24th. Deutsche Bank AG restated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. BidaskClub upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. BMO Capital Markets restated a “buy” rating and set a $16.00 target price on shares of Huntington Bancshares in a research report on Friday, June 9th. Finally, Morgan Stanley cut their target price on shares of Huntington Bancshares from $14.00 to $13.75 and set an “equal weight” rating for the company in a research report on Tuesday, June 6th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $14.83.
Huntington Bancshares (HBAN) opened at 13.40 on Wednesday. The firm has a market cap of $14.61 billion, a P/E ratio of 18.56 and a beta of 1.37. The company’s 50 day moving average is $13.30 and its 200 day moving average is $13.34. Huntington Bancshares has a 52-week low of $9.10 and a 52-week high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the firm earned $0.19 EPS.
Huntington Bancshares declared that its board has approved a share repurchase program on Wednesday, June 28th that permits the company to buyback $308.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 annualized dividend and a yield of 2.39%. Huntington Bancshares’s dividend payout ratio is currently 46.38%.
In other Huntington Bancshares news, EVP Paul G. Heller sold 35,720 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $12.93, for a total transaction of $461,859.60. Following the completion of the sale, the executive vice president now directly owns 443,883 shares in the company, valued at $5,739,407.19. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen D. Steinour acquired 50,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were acquired at an average price of $12.40 per share, with a total value of $620,000.00. Following the completion of the purchase, the chief executive officer now owns 3,891,831 shares of the company’s stock, valued at $48,258,704.40. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. City Holding Co. increased its stake in Huntington Bancshares by 17.5% in the first quarter. City Holding Co. now owns 8,057 shares of the bank’s stock valued at $108,000 after buying an additional 1,200 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in Huntington Bancshares by 371.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock valued at $128,000 after buying an additional 7,521 shares in the last quarter. Moody Lynn & Lieberson LLC purchased a new position in Huntington Bancshares during the first quarter worth approximately $134,000. Sigma Planning Corp purchased a new position in Huntington Bancshares during the first quarter worth approximately $137,000. Finally, Affinity Wealth Management purchased a new position in Huntington Bancshares during the first quarter worth approximately $141,000. Institutional investors own 75.51% of the company’s stock.
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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