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

Huntington Bancshares (NASDAQ:HBANGet Free Report) issued its earnings results on Friday. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03, Briefing.com reports. The business 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 12.96% and a net margin of 18.00%. During the same quarter last year, the firm posted $0.38 earnings per share.

Huntington Bancshares Stock Up 0.8 %

NASDAQ HBAN opened at $13.28 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock’s 50 day moving average is $13.27 and its two-hundred day moving average is $12.15. The company has a market capitalization of $19.26 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 2.47 and a beta of 1.11. Huntington Bancshares has a 1-year low of $9.13 and a 1-year high of $14.07.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders 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 55.86%.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares 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 sale, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 value of $197,059.88. Following the transaction, the vice president now directly owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,241 shares of company stock valued at $1,360,359. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in shares of Huntington Bancshares by 12.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,573,633 shares of the bank’s stock worth $70,897,000 after acquiring an additional 611,580 shares in the last quarter. DRW Securities LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $200,000. Harbour Investments Inc. boosted its holdings in shares of Huntington Bancshares by 6.9% in the 4th quarter. Harbour Investments Inc. now owns 24,601 shares of the bank’s stock worth $313,000 after acquiring an additional 1,582 shares in the last quarter. O Dell Group LLC acquired a new position in shares of Huntington Bancshares in the 4th quarter worth approximately $110,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Huntington Bancshares by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 603,008 shares of the bank’s stock worth $7,670,000 after acquiring an additional 16,606 shares in the last quarter. 80.72% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on HBAN shares. Barclays raised Huntington Bancshares from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $12.00 to $15.00 in a research report on Tuesday, January 2nd. Keefe, Bruyette & Woods raised their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, February 14th. Citigroup raised their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.00 to $16.00 in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $14.97.

Check Out Our Latest Report on Huntington Bancshares

Huntington Bancshares Company Profile

(Get Free Report)

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.

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Earnings History for Huntington Bancshares (NASDAQ:HBAN)

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