Huntington Bancshares Incorporated (HBAN) to Post FY2017 Earnings of $0.98 Per Share, Wedbush Forecasts
Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at Wedbush boosted their FY2017 earnings estimates for shares of Huntington Bancshares in a report issued on Monday. Wedbush analyst P. Winter now forecasts that the bank will earn $0.98 per share for the year, up from their prior forecast of $0.91. Wedbush also issued estimates for Huntington Bancshares’ Q4 2017 earnings at $0.26 EPS.
Several other equities research analysts also recently issued reports on HBAN. Jefferies Group LLC upgraded shares of 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. Keefe, Bruyette & Woods set a $14.00 price objective on shares of Huntington Bancshares and gave the stock a “hold” rating in a research note on Monday, April 3rd. Zacks Investment Research upgraded shares of 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. FBR & Co reiterated a “mkt perform” rating and set a $14.00 price objective (down from $15.00) on shares of Huntington Bancshares in a research note on Thursday, April 20th. Finally, Piper Jaffray Companies reiterated a “neutral” rating and set a $14.00 price objective (down from $14.50) on shares of Huntington Bancshares in a research note on Saturday, April 22nd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $14.90.
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Shares of Huntington Bancshares (NASDAQ:HBAN) traded down 0.30% on Thursday, hitting $13.14. 1,189,262 shares of the company’s stock were exchanged. Huntington Bancshares has a 12-month low of $9.21 and a 12-month high of $14.74. The company’s 50-day moving average price is $13.36 and its 200 day moving average price is $13.34. The stock has a market cap of $14.32 billion, a price-to-earnings ratio of 18.20 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same quarter in the prior year, the firm posted $0.19 earnings per share.
Several hedge funds have recently modified their holdings of the company. City Holding Co. boosted its stake in shares of Huntington Bancshares by 17.5% in the first quarter. City Holding Co. now owns 8,057 shares of the bank’s stock worth $108,000 after buying an additional 1,200 shares during the period. Bronfman E.L. Rothschild L.P. boosted its stake in shares of 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 worth $128,000 after buying an additional 7,521 shares during the period. Moody Lynn & Lieberson LLC acquired a new stake in shares of Huntington Bancshares during the first quarter worth $134,000. Sigma Planning Corp acquired a new stake in shares of Huntington Bancshares during the first quarter worth $137,000. Finally, Affinity Wealth Management acquired a new stake in shares of Huntington Bancshares during the first quarter worth $141,000. 75.51% of the stock is currently owned by institutional investors.
In other Huntington Bancshares news, CEO Stephen D. Steinour bought 50,000 shares of the company’s stock in a transaction on Thursday, May 18th. The shares were bought at an average cost of $12.40 per share, with a total value of $620,000.00. Following the completion of the acquisition, the chief executive officer now owns 3,891,831 shares of the company’s stock, valued at $48,258,704.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Paul G. Heller sold 35,720 shares of the stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $12.93, for a total transaction of $461,859.60. Following the sale, the executive vice president now directly owns 443,883 shares in the company, valued at $5,739,407.19. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.43%. Huntington Bancshares’s dividend payout ratio (DPR) is 46.38%.
Huntington Bancshares announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that allows the company to buyback $308.00 million in outstanding shares. This buyback authorization allows the bank to repurchase up to 2.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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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