FY2018 EPS Estimates for Huntington Bancshares Incorporated (HBAN) Decreased by Analyst
Huntington Bancshares Incorporated (NASDAQ:HBAN) – Jefferies Group dropped their FY2018 earnings per share estimates for shares of Huntington Bancshares in a note issued to investors on Wednesday. Jefferies Group analyst K. Usdin now forecasts that the bank will earn $1.05 per share for the year, down from their previous estimate of $1.06.
Several other brokerages have also weighed in on HBAN. Piper Jaffray Companies reissued a “buy” rating and issued a $15.50 price objective on shares of Huntington Bancshares in a report on Tuesday, October 17th. FBR & Co reissued a “hold” rating and issued a $14.00 price objective on shares of Huntington Bancshares in a report on Thursday. BMO Capital Markets lowered Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $16.00 price objective for the company. in a report on Thursday. Nomura boosted their price objective on Huntington Bancshares from $16.00 to $17.00 and gave the company a “buy” rating in a report on Thursday. Finally, BidaskClub raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $15.22.
Shares of Huntington Bancshares (NASDAQ HBAN) traded down 0.50% during mid-day trading on Monday, hitting $13.87. The company had a trading volume of 863,735 shares. The stock’s 50-day moving average is $13.60 and its 200-day moving average is $13.17. The stock has a market cap of $15.12 billion, a price-to-earnings ratio of 19.21 and a beta of 1.38. Huntington Bancshares has a 52-week low of $10.07 and a 52-week high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. During the same period last year, the company earned $0.11 earnings per share.
Hedge funds and other institutional investors have recently modified their holdings of the company. Sun Life Financial INC boosted its position in shares of Huntington Bancshares by 99,812.5% during the second quarter. Sun Life Financial INC now owns 7,993 shares of the bank’s stock worth $108,000 after buying an additional 7,985 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of Huntington Bancshares during the second quarter worth approximately $134,000. Verition Fund Management LLC acquired a new position in shares of Huntington Bancshares during the second quarter worth approximately $139,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of Huntington Bancshares by 8.7% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 10,382 shares of the bank’s stock worth $140,000 after buying an additional 834 shares during the period. Finally, Foster & Motley Inc. boosted its position in shares of Huntington Bancshares by 2.2% during the second quarter. Foster & Motley Inc. now owns 10,504 shares of the bank’s stock worth $142,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.
In other news, EVP Nicholas G. Stanutz sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total transaction of $203,360.00. Following the completion of the transaction, the executive vice president now directly owns 447,722 shares in the company, valued at $5,690,546.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, December 15th. This is an increase from Huntington Bancshares’s previous quarterly dividend of $0.08. This represents a $0.44 annualized dividend and a dividend yield of 3.16%. Huntington Bancshares’s payout ratio is currently 39.51%.
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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