Huntington Bancshares (NASDAQ:HBAN) Issues Earnings Results, Beats Estimates By $0.03 EPS

Huntington Bancshares (NASDAQ:HBAN) posted its earnings results on Friday. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03, Briefing.com reports. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the firm posted $0.38 EPS.

Huntington Bancshares Stock Performance

Shares of HBAN stock opened at $13.28 on Monday. The firm has a 50-day moving average of $13.27 and a 200-day moving average of $12.16. The company has a market cap of $19.26 billion, a P/E ratio of 11.96, a P/E/G ratio of 2.47 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. Huntington Bancshares has a one year low of $9.13 and a one year high of $14.07.

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.67%. Huntington Bancshares’s payout ratio is 55.86%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on HBAN shares. Barclays raised shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $12.00 to $15.00 in a report on Tuesday, January 2nd. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and upped their price objective for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Keefe, Bruyette & Woods upped their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price objective for the company from $14.00 to $15.50 in a research note on Tuesday, February 27th. Finally, Morgan Stanley upped their price objective on shares of Huntington Bancshares from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $15.17.

Insider Activity

In other news, insider Helga Houston sold 28,700 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total value of $377,979.00. Following the completion of the sale, the insider now owns 568,222 shares in the company, valued at $7,483,483.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the transaction, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Helga Houston sold 28,700 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the transaction, the insider now owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. Insiders sold a total of 102,241 shares of company stock worth $1,360,359 over the last quarter. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Huntington Bancshares by 1.6% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 53,992 shares of the bank’s stock valued at $712,000 after acquiring an additional 830 shares during the period. Guardian Wealth Management Inc. raised its stake in Huntington Bancshares by 3.5% in the first quarter. Guardian Wealth Management Inc. now owns 24,852 shares of the bank’s stock valued at $363,000 after purchasing an additional 835 shares in the last quarter. Buckingham Strategic Wealth LLC raised its stake in Huntington Bancshares by 5.6% in the fourth quarter. Buckingham Strategic Wealth LLC now owns 16,183 shares of the bank’s stock valued at $206,000 after purchasing an additional 864 shares in the last quarter. Gilbert & Cook Inc. raised its stake in Huntington Bancshares by 4.5% in the fourth quarter. Gilbert & Cook Inc. now owns 22,594 shares of the bank’s stock valued at $287,000 after purchasing an additional 966 shares in the last quarter. Finally, First Manhattan Co. raised its stake in Huntington Bancshares by 0.4% in the fourth quarter. First Manhattan Co. now owns 262,161 shares of the bank’s stock valued at $3,696,000 after purchasing an additional 974 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.