Huntington Bancshares (NASDAQ:HBAN) Posts Earnings Results

Huntington Bancshares (NASDAQ:HBANGet Free Report) issued its quarterly earnings results on Friday. The bank reported $0.28 earnings per share 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 12.96% and a net margin of 18.00%. During the same quarter in the prior year, the firm posted $0.38 earnings per share.

Huntington Bancshares Stock Up 0.8 %

Shares of Huntington Bancshares stock traded up $0.10 on Friday, hitting $13.28. The company had a trading volume of 39,981,446 shares, compared to its average volume of 14,462,811. The stock has a market capitalization 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. 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 has a 1 year low of $9.13 and a 1 year high of $14.07. The stock has a 50 day moving average of $13.27 and a 200-day moving average of $12.15.

Huntington Bancshares Dividend Announcement

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 dividend payout ratio is currently 55.86%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the firm’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 transaction, the vice president now directly owns 303,455 shares in the company, valued at approximately $3,847,809.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of 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 is available at the SEC website. Also, 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 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 a total of 102,241 shares of company stock valued at $1,360,359 over the last 90 days. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HBAN. Tyler Stone Wealth Management purchased a new position in shares of Huntington Bancshares in the 2nd quarter worth about $25,000. Clear Street Markets LLC raised its position in Huntington Bancshares by 81.6% in the first quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock worth $32,000 after acquiring an additional 1,272 shares during the period. Sunbelt Securities Inc. purchased a new position in Huntington Bancshares in the first quarter valued at about $35,000. Quarry LP grew its position in shares of Huntington Bancshares by 68.8% during the 1st quarter. Quarry LP now owns 3,777 shares of the bank’s stock valued at $42,000 after acquiring an additional 1,539 shares during the period. Finally, Worth Asset Management LLC purchased a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $45,000. Institutional investors own 80.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. Raymond James upped their target price on Huntington Bancshares from $13.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Tuesday, December 26th. Evercore ISI lifted their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Morgan Stanley increased their price target on Huntington Bancshares from $13.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and a consensus target price of $14.97.

Check Out Our Latest Analysis 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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