Huntington Bancshares (NASDAQ:HBAN) Releases Earnings Results, Beats Expectations By $0.03 EPS

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

Huntington Bancshares Trading Down 0.5 %

HBAN traded down $0.07 during trading on Friday, reaching $15.36. The company had a trading volume of 19,315,787 shares, compared to its average volume of 16,251,774. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $16.03. 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 business has a 50 day simple moving average of $14.56 and a 200-day simple moving average of $13.93.

Huntington Bancshares Dividend Announcement

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

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares in the company, valued at $167,331.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the transaction, the vice president now owns 69,595 shares in the company, valued at $1,054,364.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 116,622 shares of company stock worth $1,762,904 over the last quarter. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors have recently made changes to their positions in HBAN. Boston Partners grew its holdings in Huntington Bancshares by 20.4% during the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after acquiring an additional 9,533,511 shares in the last quarter. National Bank of Canada FI increased its holdings in Huntington Bancshares by 832.7% during the first quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock valued at $46,927,000 after buying an additional 2,979,768 shares during the period. Scout Investments Inc. purchased a new position in Huntington Bancshares during the first quarter valued at approximately $35,428,000. Point72 Asset Management L.P. raised its stake in Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock worth $42,226,000 after buying an additional 2,116,839 shares in the last quarter. Finally, AMF Tjanstepension AB purchased a new stake in Huntington Bancshares during the first quarter worth $24,100,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on HBAN shares. Jefferies Financial Group reduced their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Argus increased their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods dropped their price target on shares of Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Barclays increased their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, Baird R W lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Huntington Bancshares has a consensus 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.