Huntington Bancshares Incorporated (NASDAQ:HBAN) – Research analysts at Jefferies Group dropped their Q3 2017 earnings per share estimates for shares of Huntington Bancshares in a research report issued on Monday. Jefferies Group analyst K. Usdin now anticipates that the bank will post earnings per share of $0.24 for the quarter, down from their prior estimate of $0.26. Jefferies Group has a “Buy” rating and a $16.00 price objective on the stock. Jefferies Group also issued estimates for Huntington Bancshares’ Q4 2017 earnings at $0.24 EPS and FY2018 earnings at $1.04 EPS.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same period last year, the firm posted $0.19 earnings per share. COPYRIGHT VIOLATION WARNING: “Q3 2017 EPS Estimates for Huntington Bancshares Incorporated (NASDAQ:HBAN) Lowered by Analyst” was posted by Community Financial News and is owned by of Community Financial News. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.com-unik.info/2017/08/12/q3-2017-eps-estimates-for-huntington-bancshares-incorporated-nasdaqhban-lowered-by-analyst-updated-updated.html.
Several other analysts have also recently issued reports on HBAN. BidaskClub cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Monday. Keefe, Bruyette & Woods set a $14.00 target price on shares of Huntington Bancshares and gave the stock a “hold” rating in a research note on Saturday, June 24th. Hilliard Lyons upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $15.00 in a research note on Monday. BMO Capital Markets reiterated an “outperform” rating and issued a $15.00 target price (down from $16.00) on shares of Huntington Bancshares in a research note on Friday. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $14.25 target price (up from $13.75) on shares of Huntington Bancshares in a research note on Friday, July 7th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $14.83.
Huntington Bancshares (NASDAQ HBAN) opened at 13.19 on Tuesday. The company has a market capitalization of $14.38 billion, a PE ratio of 18.27 and a beta of 1.37. The company has a 50-day moving average of $13.30 and a 200-day moving average of $13.34. Huntington Bancshares has a 52 week low of $9.10 and a 52 week high of $14.74.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 2.43%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 46.38%.
Huntington Bancshares announced that its Board of Directors has initiated a share repurchase program on Wednesday, June 28th that permits the company to repurchase $308.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 2.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
In other Huntington Bancshares news, EVP Andrew J. Harmening bought 15,490 shares of Huntington Bancshares stock in a transaction that occurred on Monday, May 15th. The shares were bought at an average price of $12.92 per share, with a total value of $200,130.80. Following the acquisition, the executive vice president now owns 35,543 shares in the company, valued at $459,215.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Paul G. Heller sold 35,720 shares of the stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $12.93, for a total transaction of $461,859.60. Following the transaction, the executive vice president now directly owns 443,883 shares in the company, valued at approximately $5,739,407.19. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the company. Miller Howard Investments Inc. NY purchased a new stake in shares of Huntington Bancshares during the second quarter worth about $2,028,000. Manning & Napier Advisors LLC purchased a new stake in shares of Huntington Bancshares during the second quarter worth about $685,000. Sit Investment Associates Inc. raised its stake in shares of Huntington Bancshares by 4.2% in the second quarter. Sit Investment Associates Inc. now owns 1,746,000 shares of the bank’s stock worth $23,606,000 after buying an additional 70,250 shares during the period. First National Bank of Omaha raised its stake in shares of Huntington Bancshares by 0.6% in the second quarter. First National Bank of Omaha now owns 312,098 shares of the bank’s stock worth $4,219,000 after buying an additional 1,844 shares during the period. Finally, Aperio Group LLC raised its stake in shares of Huntington Bancshares by 8.5% in the second quarter. Aperio Group LLC now owns 434,453 shares of the bank’s stock worth $5,874,000 after buying an additional 33,908 shares during the period. 75.51% of the stock is currently owned by institutional investors and hedge funds.
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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