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

Huntington Bancshares (NASDAQ:HBAN) posted its quarterly earnings data on Friday. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03, Briefing.com reports. The company had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. During the same period in the previous year, the firm earned $0.38 earnings per share.

Huntington Bancshares Trading Up 0.8 %

NASDAQ HBAN opened at $13.28 on Friday. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 11.96, a P/E/G 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 business has a 50 day moving average price of $13.27 and a 200-day moving average price of $12.15. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73.

Huntington Bancshares Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stephens reaffirmed an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 1st. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. Evercore ISI lifted their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Finally, DA Davidson raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $14.00 to $15.50 in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.97.

Insider Activity

In other news, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Helga Houston sold 28,700 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the completion of the sale, the insider now owns 568,222 shares in the company, valued at $7,483,483.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders sold a total of 102,241 shares of company stock worth $1,360,359 over the last quarter. 0.89% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors have recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. grew its holdings in Huntington Bancshares by 1.6% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 53,992 shares of the bank’s stock worth $712,000 after buying an additional 830 shares in the last quarter. Guardian Wealth Management Inc. grew its holdings in Huntington Bancshares by 3.5% during the first quarter. Guardian Wealth Management Inc. now owns 24,852 shares of the bank’s stock worth $363,000 after buying an additional 835 shares in the last quarter. Buckingham Strategic Wealth LLC grew its holdings in Huntington Bancshares by 5.6% during the fourth quarter. Buckingham Strategic Wealth LLC now owns 16,183 shares of the bank’s stock worth $206,000 after buying an additional 864 shares in the last quarter. Gilbert & Cook Inc. grew its holdings in Huntington Bancshares by 4.5% during the fourth quarter. Gilbert & Cook Inc. now owns 22,594 shares of the bank’s stock worth $287,000 after buying an additional 966 shares in the last quarter. Finally, First Manhattan Co. grew its holdings in Huntington Bancshares by 0.4% during the fourth quarter. First Manhattan Co. now owns 262,161 shares of the bank’s stock worth $3,696,000 after buying an additional 974 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

About Huntington Bancshares

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.