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

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

Huntington Bancshares Stock Up 0.8 %

Shares of NASDAQ HBAN opened at $13.28 on Monday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The company has a market cap of $19.26 billion, a P/E ratio of 11.96, a PEG ratio of 2.47 and a beta of 1.11. Huntington Bancshares has a 1 year low of $9.13 and a 1 year high of $14.07. The firm has a 50-day simple moving average of $13.27 and a two-hundred day simple moving average of $12.16.

Huntington Bancshares Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on HBAN shares. Bank of America upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Evercore ISI increased their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Morgan Stanley increased their price target on shares of Huntington Bancshares from $13.00 to $16.00 and gave the company an “overweight” rating in a report on Wednesday, February 7th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Insiders Place Their Bets

In other news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on 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 sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on 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 sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Helga Houston sold 28,700 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total transaction of $377,979.00. Following the sale, the insider now directly 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 valued at $1,360,359 over the last 90 days. Insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Huntington Bancshares by 1.6% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 53,992 shares of the bank’s stock worth $712,000 after buying an additional 830 shares during the period. Guardian Wealth Management Inc. lifted its stake in shares of Huntington Bancshares by 3.5% during the first quarter. Guardian Wealth Management Inc. now owns 24,852 shares of the bank’s stock worth $363,000 after buying an additional 835 shares during the period. Buckingham Strategic Wealth LLC lifted its stake in shares of Huntington Bancshares by 5.6% during the fourth quarter. Buckingham Strategic Wealth LLC now owns 16,183 shares of the bank’s stock worth $206,000 after buying an additional 864 shares during the period. Gilbert & Cook Inc. lifted its stake in shares of Huntington Bancshares by 4.5% during the fourth quarter. Gilbert & Cook Inc. now owns 22,594 shares of the bank’s stock worth $287,000 after buying an additional 966 shares during the period. Finally, First Manhattan Co. lifted its stake in shares of Huntington Bancshares by 0.4% during the fourth quarter. First Manhattan Co. now owns 262,161 shares of the bank’s stock worth $3,696,000 after buying an additional 974 shares during the period. 80.72% of the stock is owned by hedge funds and other 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.