Analysts expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to announce earnings of $0.23 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Huntington Bancshares’ earnings. The lowest EPS estimate is $0.22 and the highest is $0.27. Huntington Bancshares reported earnings per share of $0.21 during the same quarter last year, which would suggest a positive year over year growth rate of 9.5%. The business is scheduled to issue its next earnings results before the market opens on Friday, July 21st.
On average, analysts expect that Huntington Bancshares will report full-year earnings of $0.94 per share for the current fiscal year, with EPS estimates ranging from $0.91 to $0.98. For the next financial year, analysts anticipate that the company will report earnings of $1.09 per share, with EPS estimates ranging from $1.03 to $1.15. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, April 19th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.01. Huntington Bancshares had a net margin of 17.54% and a return on equity of 11.07%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $0.20 earnings per share. The business’s revenue for the quarter was up 39.8% on a year-over-year basis.
Several analysts recently weighed in on the company. Piper Jaffray Companies restated a “neutral” rating and set a $14.00 target price (down previously from $14.50) on shares of Huntington Bancshares in a research note on Saturday, April 22nd. Deutsche Bank AG reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Zacks Investment Research upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price objective for the company in a research report on Tuesday, April 11th. Jefferies Group LLC upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $16.00 in a research report on Monday, April 3rd. Finally, FBR & Co reiterated a “mkt perform” rating and issued a $14.00 price objective (down previously from $15.00) on shares of Huntington Bancshares in a research report on Thursday, April 20th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $14.23.
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Shares of Huntington Bancshares (NASDAQ:HBAN) traded up 0.15% during midday trading on Friday, hitting $13.81. The stock had a trading volume of 5,953,903 shares. The firm has a 50-day moving average of $12.90 and a 200 day moving average of $13.29. The firm has a market cap of $15.01 billion, a PE ratio of 20.49 and a beta of 1.37. Huntington Bancshares has a 12-month low of $9.10 and a 12-month high of $14.74. Huntington Bancshares also was the recipient of some unusual options trading on Friday. Investors acquired 8,371 call options on the stock. This represents an increase of approximately 1,153% compared to the average daily volume of 668 call options.
The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Stockholders of record on Monday, June 19th were paid a $0.08 dividend. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.32%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 49.23%.
Huntington Bancshares announced that its board has approved a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $308.00 million in shares. This repurchase authorization permits the bank to purchase up to 2.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
In other news, EVP Paul G. Heller sold 35,720 shares of Huntington Bancshares stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $12.93, for a total value of $461,859.60. Following the completion of the sale, the executive vice president now directly owns 443,883 shares of the company’s stock, valued at approximately $5,739,407.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen D. Steinour bought 50,000 shares of the stock in a transaction dated Thursday, May 18th. The stock was purchased at an average cost of $12.40 per share, with a total value of $620,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,891,831 shares in the company, valued at approximately $48,258,704.40. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Formidable Asset Management LLC boosted its stake in Huntington Bancshares by 0.6% in the first quarter. Formidable Asset Management LLC now owns 16,520 shares of the bank’s stock valued at $216,000 after buying an additional 100 shares during the period. Cleararc Capital Inc. boosted its stake in Huntington Bancshares by 0.7% in the first quarter. Cleararc Capital Inc. now owns 26,527 shares of the bank’s stock valued at $355,000 after buying an additional 176 shares during the period. North Star Asset Management Inc. boosted its stake in Huntington Bancshares by 1.6% in the first quarter. North Star Asset Management Inc. now owns 12,656 shares of the bank’s stock valued at $169,000 after buying an additional 200 shares during the period. OLD National Bancorp IN boosted its stake in Huntington Bancshares by 1.2% in the second quarter. OLD National Bancorp IN now owns 19,152 shares of the bank’s stock valued at $259,000 after buying an additional 220 shares during the period. Finally, National Asset Management Inc. boosted its stake in Huntington Bancshares by 2.4% in the first quarter. National Asset Management Inc. now owns 13,911 shares of the bank’s stock valued at $187,000 after buying an additional 326 shares during the period. 75.30% of the stock is owned by institutional investors.
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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