Analysts Expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to Post $0.34 Earnings Per Share

Wall Street brokerages forecast that Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) will post earnings of $0.34 per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Huntington Bancshares’ earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.35. Huntington Bancshares reported earnings of $0.35 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 2.9%. The firm is expected to report its next earnings results on Monday, January 1st.

On average, analysts expect that Huntington Bancshares will report full-year earnings of $1.40 per share for the current year, with EPS estimates ranging from $1.35 to $1.51. For the next year, analysts anticipate that the company will post earnings of $1.50 per share, with EPS estimates ranging from $1.40 to $1.58. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Huntington Bancshares.

Huntington Bancshares (NASDAQ:HBANGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The bank reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Huntington Bancshares had a return on equity of 12.19% and a net margin of 26.96%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company earned $0.48 EPS. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year.

A number of research analysts have weighed in on HBAN shares. Stephens raised Huntington Bancshares from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $16.00 to $17.00 in a research note on Monday, April 25th. Morgan Stanley reduced their price target on Huntington Bancshares from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, March 28th. Raymond James reduced their price target on Huntington Bancshares from $19.00 to $18.00 and set a “strong-buy” rating on the stock in a research note on Friday, April 22nd. StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, April 22nd. Finally, Bank of America lowered Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 target price on the stock. in a research report on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares has a consensus rating of “Hold” and an average target price of $17.71.

Shares of Huntington Bancshares stock opened at $13.61 on Tuesday. Huntington Bancshares has a fifty-two week low of $12.98 and a fifty-two week high of $17.79. The firm has a market cap of $19.59 billion, a PE ratio of 11.63 and a beta of 1.18. The business’s fifty day moving average is $14.36 and its two-hundred day moving average is $15.36. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.40.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Friday, June 17th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.56%. The ex-dividend date is Thursday, June 16th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 52.99%.

In related news, VP Steven Lee Rhodes sold 14,705 shares of the stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $13.28, for a total value of $195,282.40. Following the completion of the sale, the vice president now directly owns 127,581 shares in the company, valued at approximately $1,694,275.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard H. King purchased 2,178 shares of the stock in a transaction that occurred on Tuesday, April 26th. The stock was bought at an average price of $13.78 per share, with a total value of $30,012.84. Following the completion of the acquisition, the director now owns 75,492 shares in the company, valued at approximately $1,040,279.76. The disclosure for this purchase can be found here. Insiders purchased a total of 23,096 shares of company stock worth $334,812 over the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp grew its stake in Huntington Bancshares by 26.0% in the third quarter. Van ECK Associates Corp now owns 30,419 shares of the bank’s stock worth $470,000 after purchasing an additional 6,281 shares in the last quarter. Deutsche Bank AG grew its stake in Huntington Bancshares by 3.9% in the third quarter. Deutsche Bank AG now owns 4,215,111 shares of the bank’s stock worth $65,167,000 after purchasing an additional 158,751 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in Huntington Bancshares by 47.2% in the third quarter. Daiwa Securities Group Inc. now owns 83,545 shares of the bank’s stock worth $1,292,000 after acquiring an additional 26,777 shares during the last quarter. Regal Investment Advisors LLC lifted its holdings in Huntington Bancshares by 5.7% in the third quarter. Regal Investment Advisors LLC now owns 26,657 shares of the bank’s stock worth $412,000 after acquiring an additional 1,442 shares during the last quarter. Finally, First National Trust Co lifted its holdings in Huntington Bancshares by 3.1% in the third quarter. First National Trust Co now owns 252,629 shares of the bank’s stock worth $3,905,000 after acquiring an additional 7,584 shares during the last quarter. Institutional investors own 79.26% of the company’s stock.

Huntington Bancshares Company Profile (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).

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

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