Huntington Bancshares (NASDAQ:HBAN) Issues Earnings Results

Huntington Bancshares (NASDAQ:HBAN – Get Rating) posted its earnings results on Thursday. The bank reported $0.29 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.01), MarketWatch Earnings reports. Huntington Bancshares had a return on equity of 13.42% and a net margin of 30.05%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. The company’s revenue was up 20.3% compared to the same quarter last year.

HBAN opened at $14.10 on Friday. The firm has a market cap of $20.37 billion, a P/E ratio of 10.37, a PEG ratio of 0.45 and a beta of 1.19. The firm has a 50-day moving average of $14.83 and a 200 day moving average of $15.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.81 and a current ratio of 0.82. Huntington Bancshares has a fifty-two week low of $13.01 and a fifty-two week high of $17.79.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Friday, June 17th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.40%. Huntington Bancshares’s payout ratio is 45.59%.

A number of equities research analysts have weighed in on HBAN shares. Barclays lowered shares of Huntington Bancshares from an “equal weight” rating to an “underweight” rating and set a $17.00 target price on the stock. in a report on Monday, January 3rd. Bank of America downgraded shares of Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 price target on the stock. in a research report on Friday, April 8th. Morgan Stanley dropped their price target on shares of Huntington Bancshares from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, March 28th. Raymond James dropped their price target on shares of Huntington Bancshares from $20.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Monday, January 24th. Finally, UBS Group began coverage on shares of Huntington Bancshares in a research report on Wednesday, January 12th. They issued a “buy” rating and a $21.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.00.

In other Huntington Bancshares news, Director Kenneth J. Phelan acquired 6,684 shares of the company’s stock in a transaction on Monday, February 7th. The shares were acquired at an average cost of $15.83 per share, with a total value of $105,807.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott D. Kleinman sold 8,290 shares of the stock in a transaction dated Tuesday, March 22nd. The stock was sold at an average price of $15.50, for a total transaction of $128,495.00. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in HBAN. Horizon Investments LLC raised its stake in Huntington Bancshares by 6.3% in the fourth quarter. Horizon Investments LLC now owns 12,873 shares of the bank’s stock valued at $199,000 after purchasing an additional 758 shares in the last quarter. Toroso Investments LLC grew its position in Huntington Bancshares by 28.9% during the fourth quarter. Toroso Investments LLC now owns 14,264 shares of the bank’s stock valued at $220,000 after acquiring an additional 3,194 shares during the last quarter. Peapack Gladstone Financial Corp grew its position in Huntington Bancshares by 4.8% during the fourth quarter. Peapack Gladstone Financial Corp now owns 24,157 shares of the bank’s stock valued at $373,000 after acquiring an additional 1,108 shares during the last quarter. Forum Financial Management LP bought a new position in Huntington Bancshares during the fourth quarter valued at approximately $437,000. Finally, Cypress Capital Group grew its position in Huntington Bancshares by 4.0% during the fourth quarter. Cypress Capital Group now owns 31,109 shares of the bank’s stock valued at $480,000 after acquiring an additional 1,209 shares during the last quarter. 78.27% of the stock is currently owned by hedge funds and other institutional investors.

About Huntington Bancshares (Get Rating)

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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

Further Reading