Huntington Bancshares (NASDAQ:HBAN) Releases Earnings Results, Beats Expectations By $0.03 EPS

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

Huntington Bancshares Price Performance

HBAN traded up $0.10 during trading on Friday, hitting $13.28. 39,981,446 shares of the stock traded hands, compared to its average volume of 14,462,811. The business has a 50 day moving average price of $13.27 and a 200 day moving average price of $12.13. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 2.45 and a beta of 1.11. Huntington Bancshares has a twelve month low of $9.13 and a twelve month high of $14.07. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.87 and a quick ratio of 0.87.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given 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 50.00%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on HBAN shares. Bank of America upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Morgan Stanley upped their price objective on Huntington Bancshares from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Evercore ISI raised their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Finally, Citigroup boosted their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.97.

Insider Buying and Selling

In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Helga Houston sold 28,700 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the completion of the transaction, the insider now owns 568,222 shares of the company’s stock, valued at $7,483,483.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 303,455 shares in the company, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders sold a total of 102,241 shares of company stock worth $1,360,359 in the last ninety days. 0.89% of the stock is owned by insiders.

Institutional Trading of Huntington Bancshares

Several institutional investors have recently modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. increased its position in Huntington Bancshares by 1.6% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 53,992 shares of the bank’s stock valued at $712,000 after purchasing an additional 830 shares during the period. Guardian Wealth Management Inc. lifted its stake in shares of Huntington Bancshares by 3.5% in the 1st quarter. Guardian Wealth Management Inc. now owns 24,852 shares of the bank’s stock valued at $363,000 after purchasing an additional 835 shares during the period. Buckingham Strategic Wealth LLC boosted its position in shares of Huntington Bancshares by 5.6% during the 4th quarter. Buckingham Strategic Wealth LLC now owns 16,183 shares of the bank’s stock valued at $206,000 after purchasing an additional 864 shares in the last quarter. Gilbert & Cook Inc. grew its stake 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 purchasing an additional 966 shares during the period. Finally, First Manhattan Co. increased its holdings in Huntington Bancshares by 0.4% in the fourth quarter. First Manhattan Co. now owns 262,161 shares of the bank’s stock worth $3,696,000 after purchasing an additional 974 shares in the last quarter. Institutional investors own 80.72% of the company’s stock.

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.