Huntington Bancshares Incorporated (NASDAQ:HBAN) – Investment analysts at Wedbush raised their FY2019 EPS estimates for shares of Huntington Bancshares in a research report issued to clients and investors on Sunday, July 1st. Wedbush analyst P. Winter now forecasts that the bank will earn $1.33 per share for the year, up from their prior forecast of $1.31.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Tuesday, April 24th. The bank reported $0.28 earnings per share for the quarter, hitting the consensus estimate of $0.28. Huntington Bancshares had a net margin of 26.97% and a return on equity of 12.64%. The firm had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the prior year, the company earned $0.21 EPS. The company’s revenue was up 3.4% compared to the same quarter last year.
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised 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. BidaskClub cut shares of Huntington Bancshares from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. UBS Group started coverage on shares of Huntington Bancshares in a research report on Wednesday, March 21st. They set a “buy” rating and a $20.00 target price for the company. ValuEngine cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Finally, Nomura decreased their target price on shares of Huntington Bancshares from $18.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, April 25th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $16.98.
Shares of HBAN opened at $14.72 on Wednesday. Huntington Bancshares has a fifty-two week low of $12.14 and a fifty-two week high of $16.60. The company has a market capitalization of $16.34 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 1.03 and a beta of 1.34. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.88 and a quick ratio of 0.88.
The business also recently declared a quarterly dividend, which was paid on Monday, July 2nd. Shareholders of record on Monday, June 18th were issued a $0.11 dividend. The ex-dividend date was Friday, June 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.99%. Huntington Bancshares’s dividend payout ratio is currently 44.90%.
In other news, EVP Paul G. Heller sold 28,251 shares of the stock in a transaction on Friday, May 18th. The shares were sold at an average price of $15.28, for a total value of $431,675.28. Following the sale, the executive vice president now owns 463,412 shares in the company, valued at $7,080,935.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David L. Porteous sold 62,000 shares of the stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $15.06, for a total transaction of $933,720.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,387 shares of company stock valued at $1,774,808. Corporate insiders own 1.05% of the company’s stock.
Several large investors have recently added to or reduced their stakes in HBAN. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Huntington Bancshares in the fourth quarter worth $45,268,000. JPMorgan Chase & Co. grew its position in Huntington Bancshares by 13.0% during the first quarter. JPMorgan Chase & Co. now owns 26,831,872 shares of the bank’s stock valued at $405,162,000 after buying an additional 3,090,241 shares during the period. FIL Ltd grew its position in Huntington Bancshares by 291.4% during the first quarter. FIL Ltd now owns 3,519,656 shares of the bank’s stock valued at $53,147,000 after buying an additional 2,620,407 shares during the period. Deutsche Bank AG grew its position in Huntington Bancshares by 123.8% during the fourth quarter. Deutsche Bank AG now owns 3,140,256 shares of the bank’s stock valued at $45,718,000 after buying an additional 1,737,095 shares during the period. Finally, Renaissance Technologies LLC grew its position in Huntington Bancshares by 487.2% during the fourth quarter. Renaissance Technologies LLC now owns 2,078,244 shares of the bank’s stock valued at $30,259,000 after buying an additional 1,724,300 shares during the period. Hedge funds and other institutional investors own 74.50% of the company’s stock.
Huntington Bancshares Company Profile
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.
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