Research Analysts Issue Forecasts for Huntington Bancshares Incorporated’s Q2 2018 Earnings (NASDAQ:HBAN)
Huntington Bancshares Incorporated (NASDAQ:HBAN) – Stock analysts at FBR & Co dropped their Q2 2018 earnings per share estimates for shares of Huntington Bancshares in a research report issued to clients and investors on Monday. FBR & Co analyst S. Moss now anticipates that the bank will earn $0.26 per share for the quarter, down from their prior estimate of $0.27. FBR & Co currently has a “Mkt Perform” rating and a $14.00 target price on the stock. FBR & Co also issued estimates for Huntington Bancshares’ Q3 2018 earnings at $0.27 EPS and Q4 2018 earnings at $0.28 EPS.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Huntington Bancshares had a return on equity of 11.39% and a net margin of 18.41%. During the same period last year, the company earned $0.19 earnings per share.
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HBAN has been the topic of a number of other research reports. Piper Jaffray Companies reissued a “neutral” rating and set a $14.00 price objective (down previously 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 on the stock in a research note on Tuesday, April 11th. Jefferies Group LLC raised Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and set a $15.00 price objective (down previously from $16.00) on shares of Huntington Bancshares in a research note on Friday, July 21st. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $14.83.
Shares of Huntington Bancshares (NASDAQ HBAN) traded down 1.007% during mid-day trading on Wednesday, reaching $13.265. The company had a trading volume of 6,251,503 shares. The stock’s 50-day moving average price is $13.30 and its 200 day moving average price is $13.34. The company has a market capitalization of $14.46 billion, a PE ratio of 18.373 and a beta of 1.37. Huntington Bancshares has a 1-year low of $9.10 and a 1-year high of $14.74.
A number of institutional investors have recently bought and sold shares of HBAN. Quadrature Capital Ltd purchased a new position in Huntington Bancshares during the fourth quarter valued at about $3,787,000. Wealthfront Inc. raised its position in Huntington Bancshares by 23.5% in the fourth quarter. Wealthfront Inc. now owns 18,945 shares of the bank’s stock valued at $250,000 after buying an additional 3,609 shares during the last quarter. Jackson Grant Investment Advisers Inc. purchased a new position in Huntington Bancshares during the fourth quarter valued at about $182,000. USA Financial Portformulas Corp purchased a new position in Huntington Bancshares during the fourth quarter valued at about $614,000. Finally, Pegasus Partners Ltd. raised its position in Huntington Bancshares by 13.2% in the fourth quarter. Pegasus Partners Ltd. now owns 64,531 shares of the bank’s stock valued at $853,000 after buying an additional 7,541 shares during the last quarter. 75.51% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Paul G. Heller sold 35,720 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $12.93, for a total transaction of $461,859.60. Following the transaction, the executive vice president now owns 443,883 shares of the company’s stock, valued at approximately $5,739,407.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Andrew J. Harmening bought 15,490 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were purchased at an average cost of $12.92 per share, for a total transaction of $200,130.80. Following the purchase, the executive vice president now owns 35,543 shares in the company, valued at approximately $459,215.56. The disclosure for this purchase can be found here. Corporate insiders own 1.30% of the company’s stock.
Huntington Bancshares declared that its board has initiated a stock buyback program on Wednesday, June 28th that permits the company to buyback $308.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 2.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.38%.
About Huntington Bancshares
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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