Huntington Bancshares (HBAN) Announces Earnings Results, Meets Estimates

Huntington Bancshares (NASDAQ:HBAN) announced its earnings results on Tuesday. The bank reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.28, Bloomberg Earnings reports. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. Huntington Bancshares had a net margin of 25.02% and a return on equity of 12.12%. Huntington Bancshares’s revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS.

HBAN stock opened at $15.02 on Tuesday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.94. Huntington Bancshares has a one year low of $12.14 and a one year high of $16.60. The stock has a market cap of $16,259.46, a price-to-earnings ratio of 15.32, a PEG ratio of 1.03 and a beta of 1.33.

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The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Monday, June 18th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, June 15th. Huntington Bancshares’s dividend payout ratio is presently 44.90%.

A number of hedge funds have recently bought and sold shares of the business. Schroder Investment Management Group lifted its stake in Huntington Bancshares by 16.8% during the fourth quarter. Schroder Investment Management Group now owns 22,882 shares of the bank’s stock valued at $333,000 after buying an additional 3,298 shares in the last quarter. New Mexico Educational Retirement Board lifted its stake in Huntington Bancshares by 3.7% during the fourth quarter. New Mexico Educational Retirement Board now owns 104,776 shares of the bank’s stock valued at $1,526,000 after buying an additional 3,700 shares in the last quarter. Endurance Wealth Management Inc. lifted its stake in Huntington Bancshares by 0.6% during the fourth quarter. Endurance Wealth Management Inc. now owns 838,303 shares of the bank’s stock valued at $12,206,000 after buying an additional 5,174 shares in the last quarter. Advisor Group Inc. lifted its stake in Huntington Bancshares by 6.5% during the fourth quarter. Advisor Group Inc. now owns 84,620 shares of the bank’s stock valued at $1,233,000 after buying an additional 5,180 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Huntington Bancshares by 4.5% during the fourth quarter. CIBC Asset Management Inc now owns 122,174 shares of the bank’s stock valued at $1,779,000 after buying an additional 5,263 shares in the last quarter. 74.05% of the stock is owned by institutional investors.

A number of brokerages recently issued reports on HBAN. BidaskClub lowered shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Zacks Investment Research upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Friday, April 6th. ValuEngine lowered shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. UBS began coverage on shares of Huntington Bancshares in a research report on Wednesday, March 21st. They issued a “buy” rating and a $20.00 target price for the company. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $17.00 target price on shares of Huntington Bancshares in a research report on Tuesday, February 27th. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $16.98.

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About Huntington Bancshares

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.

Earnings History for Huntington Bancshares (NASDAQ:HBAN)

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