$1.10 Billion in Sales Expected for Huntington Bancshares Incorporated (HBAN) This Quarter
Equities research analysts forecast that Huntington Bancshares Incorporated (NASDAQ:HBAN) will announce sales of $1.10 billion for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Huntington Bancshares’ earnings, with the highest sales estimate coming in at $1.12 billion and the lowest estimate coming in at $1.10 billion. Huntington Bancshares reported sales of $1.07 billion during the same quarter last year, which would indicate a positive year over year growth rate of 2.8%. The business is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, January 23rd.
On average, analysts expect that Huntington Bancshares will report full-year sales of $1.10 billion for the current fiscal year, with estimates ranging from $4.30 billion to $4.36 billion. For the next financial year, analysts anticipate that the firm will post sales of $4.54 billion per share, with estimates ranging from $4.47 billion to $4.63 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.02). Huntington Bancshares had a return on equity of 11.96% and a net margin of 20.76%. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the company posted $0.11 earnings per share.
Shares of Huntington Bancshares (HBAN) traded up $0.30 on Friday, reaching $15.81. 8,686,946 shares of the company’s stock traded hands, compared to its average volume of 9,450,000. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.96. Huntington Bancshares has a one year low of $12.14 and a one year high of $16.00. The firm has a market capitalization of $17,090.00, a price-to-earnings ratio of 19.05, a P/E/G ratio of 1.23 and a beta of 1.33.
In other Huntington Bancshares news, EVP Daniel J. Neumeyer sold 43,491 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $13.88, for a total value of $603,655.08. Following the sale, the executive vice president now owns 427,270 shares of the company’s stock, valued at $5,930,507.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 14,513 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total transaction of $199,844.01. Following the completion of the sale, the insider now directly owns 499,824 shares in the company, valued at approximately $6,882,576.48. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sun Life Financial INC lifted its stake 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 valued at $108,000 after buying an additional 7,985 shares during the period. Verition Fund Management LLC purchased a new position in shares of Huntington Bancshares during the second quarter valued at approximately $139,000. Alpha Cubed Investments LLC purchased a new position in shares of Huntington Bancshares during the third quarter valued at approximately $151,000. ClariVest Asset Management LLC lifted its stake in shares of Huntington Bancshares by 53.4% during the third quarter. ClariVest Asset Management LLC now owns 11,200 shares of the bank’s stock valued at $156,000 after buying an additional 3,900 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in shares of Huntington Bancshares by 171.7% during the second quarter. D.A. Davidson & CO. now owns 13,800 shares of the bank’s stock valued at $186,000 after buying an additional 8,720 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.
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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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