Huntington Bancshares (NASDAQ:HBAN) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Huntington Bancshares (NASDAQ:HBAN) issued its quarterly earnings data on Friday. The bank reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04, Zacks reports. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period last year, the business posted $0.27 earnings per share.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $16.84 on Friday. Huntington Bancshares has a fifty-two week low of $12.02 and a fifty-two week high of $18.44. The firm’s 50 day simple moving average is $17.07 and its 200-day simple moving average is $15.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market cap of $24.47 billion, a P/E ratio of 16.19, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HBAN. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a report on Friday, October 18th. Keefe, Bruyette & Woods boosted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of Huntington Bancshares in a research note on Monday, December 23rd. Evercore ISI raised their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Truist Financial started coverage on Huntington Bancshares in a research report on Tuesday, January 7th. They issued a “buy” rating and a $19.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.76.

Insider Activity at Huntington Bancshares

In other news, insider Helga Houston sold 6,455 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the completion of the sale, the chief financial officer now directly owns 259,943 shares of the company’s stock, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is owned by corporate insiders.

Huntington Bancshares Company Profile

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.