Huntington Bancshares Incorporated (NASDAQ:HBAN) – Investment analysts at Jefferies Group raised their Q3 2017 EPS estimates for Huntington Bancshares in a research note issued on Monday. Jefferies Group analyst K. Usdin now forecasts that the bank will earn $0.25 per share for the quarter, up from their previous forecast of $0.24. Jefferies Group also issued estimates for Huntington Bancshares’ Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $0.99 EPS, Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.28 EPS and FY2018 earnings at $1.06 EPS.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same quarter in the prior year, the business earned $0.19 earnings per share.
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A number of other brokerages have also weighed in on HBAN. BidaskClub raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Instinet reissued a “buy” rating and issued a $16.00 target price (up previously from $15.00) on shares of Huntington Bancshares in a research report on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and issued a $14.25 target price (up previously from $13.75) on shares of Huntington Bancshares in a research report on Friday, July 7th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $16.00 target price on shares of Huntington Bancshares in a research report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Huntington Bancshares currently has a consensus rating of “Buy” and a consensus price target of $15.01.
Huntington Bancshares (NASDAQ HBAN) opened at 13.98 on Wednesday. The company’s 50-day moving average is $13.13 and its 200 day moving average is $13.10. The company has a market cap of $15.24 billion, a price-to-earnings ratio of 19.36 and a beta of 1.38. Huntington Bancshares has a 52-week low of $9.57 and a 52-week high of $14.74.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Huntington Bancshares by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 109,990,274 shares of the bank’s stock valued at $1,487,068,000 after acquiring an additional 2,558,854 shares during the period. BlackRock Inc. boosted its stake in Huntington Bancshares by 2,879.7% in the 1st quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock worth $920,719,000 after purchasing an additional 66,453,890 shares during the period. Capital International Investors boosted its stake in Huntington Bancshares by 22.6% in the 2nd quarter. Capital International Investors now owns 43,919,215 shares of the bank’s stock worth $593,788,000 after purchasing an additional 8,101,400 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Huntington Bancshares by 20.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,364,805 shares of the bank’s stock worth $167,172,000 after purchasing an additional 2,065,131 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Huntington Bancshares by 8.6% in the 1st quarter. Geode Capital Management LLC now owns 11,751,388 shares of the bank’s stock worth $157,150,000 after purchasing an additional 928,231 shares during the period. Institutional investors own 74.17% of the company’s stock.
In related news, EVP Nicholas G. Stanutz sold 16,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total transaction of $203,360.00. Following the completion of the transaction, the executive vice president now directly owns 447,722 shares in the company, valued at approximately $5,690,546.62. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard W. Neu acquired 2,450 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were bought at an average price of $13.10 per share, with a total value of $32,095.00. Following the completion of the purchase, the director now owns 184,596 shares in the company, valued at approximately $2,418,207.60. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
Huntington Bancshares declared that its board has authorized a stock buyback program on Wednesday, June 28th that allows the company to repurchase $308.00 million in shares. This repurchase authorization allows the bank to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.29%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.38%.
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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