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, 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 quarter in the prior year, the company posted $0.38 EPS.

Huntington Bancshares Stock Performance

NASDAQ HBAN traded up $0.10 during trading hours on Friday, reaching $13.28. The company’s stock had a trading volume of 39,981,446 shares, compared to its average volume of 14,462,811. The business has a 50-day simple moving average of $13.27 and a 200 day simple moving average of $12.15. The stock has a market cap of $19.26 billion, a PE ratio of 11.96, a PEG ratio of 2.47 and a beta of 1.11. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. Huntington Bancshares has a 52 week low of $9.13 and a 52 week high of $14.07.

Huntington Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HBAN. Evercore ISI increased their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. JPMorgan Chase & Co. increased their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, April 4th. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $15.00 in a research report on Wednesday, February 14th. Finally, Raymond James increased their target price on Huntington Bancshares from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, December 26th. One 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’s stock. According to data from MarketBeat.com, 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

Insider Activity

In other news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares 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 owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were 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 in the company, valued at $3,847,809.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of the firm’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 transaction of $785,320.00. Following the transaction, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,241 shares of company stock valued at $1,360,359. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Huntington Bancshares by 1.5% in the first 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 during the last quarter. BlackRock Inc. grew its position in 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 in the last quarter. Charles Schwab Investment Management Inc. grew its position in 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 in the last quarter. Geode Capital Management LLC grew its position in 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 in the last quarter. Finally, JPMorgan Chase & Co. boosted 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 valued at $350,873,000 after buying an additional 232,098 shares during the period. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.

See Also

Earnings History for Huntington Bancshares (NASDAQ:HBAN)

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