Huntington Bancshares (NASDAQ:HBAN) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Huntington Bancshares (NASDAQ:HBAN) released its earnings results on Friday. The bank reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03, Briefing.com reports. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the prior year, the business posted $0.38 EPS.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $13.28 on Monday. The company’s 50 day moving average price is $13.27 and its 200 day moving average price is $12.16. The company has a market capitalization of $19.26 billion, a PE ratio of 11.96, a PEG ratio of 2.47 and a beta of 1.11. Huntington Bancshares has a 52 week low of $9.13 and a 52 week high of $14.07. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.67%. Huntington Bancshares’s payout ratio is currently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other news, insider Helga Houston sold 28,700 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total transaction of $377,979.00. Following the transaction, the insider now directly owns 568,222 shares in the company, valued at approximately $7,483,483.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Helga Houston sold 28,700 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total transaction of $377,979.00. Following the transaction, the insider now directly owns 568,222 shares in the company, valued at approximately $7,483,483.74. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders sold 102,241 shares of company stock valued at $1,360,359 in the last quarter. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of large investors have recently bought and sold shares of HBAN. Norges Bank bought a new stake in Huntington Bancshares in the fourth quarter worth $216,049,000. First Trust Advisors LP lifted its position in Huntington Bancshares by 359.4% during the 1st quarter. First Trust Advisors LP now owns 18,947,586 shares of the bank’s stock worth $212,213,000 after acquiring an additional 14,823,508 shares during the last quarter. Schonfeld Strategic Advisors LLC lifted its position in Huntington Bancshares by 2,536.9% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 5,936,016 shares of the bank’s stock worth $66,483,000 after acquiring an additional 5,710,903 shares during the last quarter. Barclays PLC lifted its position in Huntington Bancshares by 56.1% during the 4th quarter. Barclays PLC now owns 8,421,022 shares of the bank’s stock worth $107,111,000 after acquiring an additional 3,025,048 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Huntington Bancshares by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 162,794,916 shares of the bank’s stock worth $2,380,062,000 after acquiring an additional 2,353,575 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HBAN has been the topic of several research analyst reports. StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Royal Bank of Canada raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. Keefe, Bruyette & Woods raised their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Finally, Citigroup raised their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.17.

Huntington Bancshares Company Profile

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 offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.