Huntington Bancshares Incorporated (NASDAQ:HBAN) released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02), MarketWatch Earnings reports. Huntington Bancshares had a net margin of 20.76% and a return on equity of 11.96%. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company posted $0.11 EPS.
Shares of Huntington Bancshares (NASDAQ HBAN) opened at $13.14 on Friday. The stock has a market capitalization of $14,279.30, a P/E ratio of 13.76, a PEG ratio of 1.50 and a beta of 1.34. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares has a 12 month low of $11.49 and a 12 month high of $14.74.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 18th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 15th. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.08. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.35%. Huntington Bancshares’s payout ratio is currently 39.51%.
A number of equities analysts have recently issued reports on HBAN shares. BMO Capital Markets reissued an “outperform” rating and set a $15.00 price target (down previously from $16.00) on shares of Huntington Bancshares in a research report on Friday, July 21st. Royal Bank of Canada reissued a “buy” rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Friday, September 8th. JMP Securities started coverage on Huntington Bancshares in a research report on Thursday, August 31st. They set an “outperform” rating and a $15.00 price target on the stock. Sanford C. Bernstein raised Huntington Bancshares from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $15.00 to $17.00 in a research report on Thursday, September 14th. Finally, Hilliard Lyons raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $15.00 in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. Huntington Bancshares has a consensus rating of “Buy” and a consensus target price of $15.22.
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In other Huntington Bancshares news, EVP Daniel J. Neumeyer sold 43,491 shares of Huntington Bancshares stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $13.88, for a total value of $603,655.08. Following the sale, the executive vice president now owns 427,270 shares in the company, valued at $5,930,507.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 14,513 shares of Huntington Bancshares stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $13.77, for a total value of $199,844.01. Following the completion of the sale, the insider now owns 499,824 shares in the company, valued at approximately $6,882,576.48. The disclosure for this sale can be found here. Insiders have sold 74,004 shares of company stock worth $1,006,859 in the last three months. 1.30% of the stock is currently owned by corporate insiders.
About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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