Huntington Bancshares Incorporated (NASDAQ:HBAN) Expected to Post Quarterly Sales of $1.19 Billion

Equities research analysts expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to announce sales of $1.19 billion for the current quarter, Zacks reports. Seven analysts have provided estimates for Huntington Bancshares’ earnings, with the lowest sales estimate coming in at $1.18 billion and the highest estimate coming in at $1.20 billion. Huntington Bancshares reported sales of $1.12 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.3%. The firm is scheduled to announce its next earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that Huntington Bancshares will report full year sales of $4.74 billion for the current fiscal year, with estimates ranging from $4.71 billion to $4.78 billion. For the next financial year, analysts anticipate that the business will report sales of $4.90 billion, with estimates ranging from $4.82 billion to $5.06 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Huntington Bancshares.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 25th. The bank reported $0.32 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.32. Huntington Bancshares had a return on equity of 14.20% and a net margin of 26.24%. The business had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year.

A number of research analysts have recently issued reports on HBAN shares. ValuEngine raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, May 3rd. Zacks Investment Research raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Argus started coverage on Huntington Bancshares in a report on Friday, May 31st. They set a “hold” rating on the stock. Finally, BidaskClub raised Huntington Bancshares from a “strong sell” rating to a “sell” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.10.

Huntington Bancshares stock traded up $0.07 during mid-day trading on Friday, hitting $13.36. The company had a trading volume of 6,982,868 shares, compared to its average volume of 8,952,640. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.92. Huntington Bancshares has a 12 month low of $11.12 and a 12 month high of $16.52. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of 11.13, a price-to-earnings-growth ratio of 1.13 and a beta of 1.38.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s payout ratio is currently 46.67%.

In other news, CEO Stephen D. Steinour acquired 18,000 shares of Huntington Bancshares stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average price of $13.33 per share, for a total transaction of $239,940.00. Following the completion of the transaction, the chief executive officer now owns 5,142,348 shares in the company, valued at $68,547,498.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark E. Thompson sold 20,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $13.97, for a total value of $279,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,158 shares of company stock worth $978,909. Corporate insiders own 1.22% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Global Retirement Partners LLC increased its position in Huntington Bancshares by 6.3% during the first quarter. Global Retirement Partners LLC now owns 13,937 shares of the bank’s stock valued at $177,000 after acquiring an additional 832 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in Huntington Bancshares by 0.4% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 246,456 shares of the bank’s stock valued at $2,938,000 after acquiring an additional 871 shares during the last quarter. Fishman Jay A Ltd. MI increased its position in Huntington Bancshares by 8.3% during the fourth quarter. Fishman Jay A Ltd. MI now owns 13,000 shares of the bank’s stock valued at $155,000 after acquiring an additional 1,000 shares during the last quarter. Bray Capital Advisors increased its position in Huntington Bancshares by 50.0% during the fourth quarter. Bray Capital Advisors now owns 3,000 shares of the bank’s stock valued at $36,000 after acquiring an additional 1,000 shares during the last quarter. Finally, CWM LLC increased its position in Huntington Bancshares by 6.4% during the first quarter. CWM LLC now owns 18,439 shares of the bank’s stock valued at $234,000 after acquiring an additional 1,116 shares during the last quarter. Institutional investors own 75.98% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

See Also: Bid-Ask Spread

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Earnings History and Estimates for Huntington Bancshares (NASDAQ:HBAN)

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