Huntington Bancshares (NASDAQ:HBAN) Issues Quarterly Earnings Results

Huntington Bancshares (NASDAQ:HBANGet Free Report) announced its quarterly earnings data 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 business had revenue of $2.85 billion during 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 quarter last year, the firm posted $0.38 earnings per share.

Huntington Bancshares Price Performance

Shares of HBAN traded up $0.10 during mid-day trading on Friday, hitting $13.28. 39,981,446 shares of the stock were exchanged, compared to its average volume of 14,462,811. The company has a market cap of $19.26 billion, a PE ratio of 11.96, a price-to-earnings-growth 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 firm has a 50-day moving average of $13.27 and a two-hundred day moving average of $12.15. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.87.

Huntington Bancshares Announces Dividend

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

Insider Transactions at Huntington Bancshares

In other news, VP Julie C. Tutkovics sold 15,541 shares of the company’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 of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $197,059.88. Following the transaction, the vice president now owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the transaction, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold 102,241 shares of company stock valued at $1,360,359 in the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds have recently bought and sold shares of HBAN. Vanguard Group Inc. grew its position in shares of 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 buying an additional 2,353,575 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Huntington Bancshares by 0.5% during the 1st quarter. BlackRock Inc. now owns 137,586,195 shares of the bank’s stock worth $1,540,965,000 after purchasing an additional 652,310 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Huntington Bancshares by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 39,384,881 shares of the bank’s stock worth $575,807,000 after purchasing an additional 1,736,566 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Huntington Bancshares by 5.0% during the 1st quarter. Geode Capital Management LLC now owns 31,820,975 shares of the bank’s stock worth $355,630,000 after purchasing an additional 1,516,892 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Huntington Bancshares by 0.7% during the 1st quarter. JPMorgan Chase & Co. now owns 31,327,949 shares of the bank’s stock worth $350,873,000 after purchasing an additional 232,098 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on HBAN. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $15.00 in a research report on Wednesday, February 14th. Jefferies Financial Group raised Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Keefe, Bruyette & Woods lifted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. Bank of America upgraded 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 report on Monday, April 8th. Finally, Citigroup lifted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $14.97.

Get Our Latest Analysis on Huntington Bancshares

About Huntington Bancshares

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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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