Analysts predict that Huntington Bancshares Incorporated (NASDAQ:HBAN) will announce $1.14 billion in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Huntington Bancshares’ earnings. The highest sales estimate is $1.15 billion and the lowest is $1.12 billion. Huntington Bancshares posted sales of $1.19 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.2%. The business is scheduled to announce its next quarterly earnings report before the market opens on Thursday, July 23rd.
According to Zacks, analysts expect that Huntington Bancshares will report full-year sales of $4.62 billion for the current fiscal year, with estimates ranging from $4.50 billion to $4.76 billion. For the next fiscal year, analysts forecast that the firm will post sales of $4.62 billion, with estimates ranging from $4.41 billion to $4.73 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.09). The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Huntington Bancshares had a return on equity of 10.40% and a net margin of 19.65%. Huntington Bancshares’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS.
A number of equities research analysts recently weighed in on HBAN shares. Robert W. Baird upgraded Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $15.00 price objective for the company in a research note on Monday, March 9th. ValuEngine upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. Cfra decreased their price objective on Huntington Bancshares from $15.00 to $9.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Nomura restated a “hold” rating and set a $7.00 price objective on shares of Huntington Bancshares in a research note on Sunday, April 26th. Finally, Royal Bank of Canada upped their price objective on Huntington Bancshares from $10.00 to $12.00 and gave the stock an “outperform” rating in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.95.
Shares of NASDAQ HBAN opened at $8.87 on Tuesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.88. The stock has a market capitalization of $8.93 billion, a P/E ratio of 9.05, a price-to-earnings-growth ratio of 4.16 and a beta of 1.52. Huntington Bancshares has a 1-year low of $6.82 and a 1-year high of $15.63. The business has a fifty day moving average price of $9.25 and a 200 day moving average price of $11.16.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 6.76%. The ex-dividend date of this dividend is Tuesday, June 16th. Huntington Bancshares’s payout ratio is 47.24%.
In other news, EVP Mark E. Thompson sold 11,464 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $8.68, for a total value of $99,507.52. Following the completion of the transaction, the executive vice president now directly owns 644,809 shares in the company, valued at $5,596,942.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Paul G. Heller sold 46,726 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $9.10, for a total value of $425,206.60. Following the completion of the transaction, the executive vice president now owns 532,943 shares of the company’s stock, valued at $4,849,781.30. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
Several large investors have recently made changes to their positions in HBAN. Ballast Advisors LLC acquired a new stake in Huntington Bancshares during the first quarter worth about $25,000. Golden State Wealth Management LLC acquired a new stake in Huntington Bancshares during the first quarter worth about $25,000. TFG Advisers LLC acquired a new stake in Huntington Bancshares during the fourth quarter worth about $29,000. Asset Dedication LLC grew its holdings in Huntington Bancshares by 421.7% during the first quarter. Asset Dedication LLC now owns 3,433 shares of the bank’s stock worth $29,000 after acquiring an additional 2,775 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in Huntington Bancshares by 128.5% during the fourth quarter. Quadrant Capital Group LLC now owns 3,062 shares of the bank’s stock worth $39,000 after acquiring an additional 1,722 shares during the period. Hedge funds and other institutional investors own 73.97% of the company’s stock.
Huntington Bancshares Company Profile
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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