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

Huntington Bancshares (NASDAQ:HBAN) posted its quarterly earnings results on Thursday. The bank reported $0.33 EPS for the quarter, beating the consensus estimate of $0.30 by $0.03, Briefing.com reports. The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the prior year, the company earned $0.36 earnings per share.

Huntington Bancshares Stock Down 0.5 %

Shares of NASDAQ HBAN opened at $15.36 on Friday. The stock has a market cap of $22.26 billion, a P/E ratio of 13.84, a PEG ratio of 2.77 and a beta of 1.04. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.96. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $16.03. The business’s fifty day simple moving average is $14.56 and its 200-day simple moving average is $13.93.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.04%. Huntington Bancshares’s payout ratio is currently 55.86%.

Insider Activity

In other news, insider Kendall A. Kowalski sold 5,747 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $14.98, for a total value of $86,090.06. Following the sale, the insider now directly owns 65,899 shares in the company, valued at approximately $987,167.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the transaction, the vice president now owns 11,111 shares of the company’s stock, valued at $167,331.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Kendall A. Kowalski sold 5,747 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $14.98, for a total transaction of $86,090.06. Following the completion of the sale, the insider now owns 65,899 shares of the company’s stock, valued at approximately $987,167.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 116,622 shares of company stock worth $1,762,904. Corporate insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of HBAN. Asset Dedication LLC grew its stake in Huntington Bancshares by 200.7% in the 3rd quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after acquiring an additional 1,202 shares during the period. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares in the 1st quarter valued at about $29,000. Peoples Bank KS purchased a new position in Huntington Bancshares in the 3rd quarter valued at about $29,000. Hazlett Burt & Watson Inc. lifted its position in shares of Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new position in shares of Huntington Bancshares during the first quarter worth about $40,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley raised their target price on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Baird R W downgraded shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday. Citigroup raised their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a research note on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $15.91.

About Huntington Bancshares

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.