Jefferies Financial Group Analysts Lift Earnings Estimates for Huntington Bancshares Incorporated (HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Jefferies Financial Group lifted their FY2018 earnings estimates for Huntington Bancshares in a report issued on Tuesday, January 8th. Jefferies Financial Group analyst K. Usdin now anticipates that the bank will post earnings per share of $1.25 for the year, up from their prior forecast of $1.24. Jefferies Financial Group also issued estimates for Huntington Bancshares’ Q4 2018 earnings at $0.34 EPS, Q1 2019 earnings at $0.32 EPS, Q4 2019 earnings at $0.36 EPS and FY2019 earnings at $1.37 EPS.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. Huntington Bancshares had a return on equity of 13.73% and a net margin of 29.13%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period last year, the company posted $0.25 EPS.

A number of other equities research analysts also recently commented on HBAN. Zacks Investment Research downgraded Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. BidaskClub downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. ValuEngine downgraded Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Wedbush downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $18.00 to $16.00 in a research report on Friday, November 2nd. Finally, BMO Capital Markets cut their price objective on Huntington Bancshares from $17.00 to $15.00 and set a “market perform” rating for the company in a research report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $16.97.

Shares of NASDAQ HBAN opened at $12.63 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.90 and a quick ratio of 0.89. The firm has a market cap of $13.43 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.63 and a beta of 1.35. Huntington Bancshares has a 1 year low of $11.12 and a 1 year high of $16.60.

Several large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Huntington Bancshares by 5.2% during the third quarter. The Manufacturers Life Insurance Company now owns 13,710,317 shares of the bank’s stock worth $204,558,000 after acquiring an additional 683,632 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Huntington Bancshares by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 8,671,432 shares of the bank’s stock worth $129,377,000 after acquiring an additional 98,561 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Huntington Bancshares by 5.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,394,784 shares of the bank’s stock worth $110,331,000 after acquiring an additional 408,719 shares in the last quarter. Teachers Advisors LLC raised its holdings in shares of Huntington Bancshares by 1.4% during the third quarter. Teachers Advisors LLC now owns 7,288,844 shares of the bank’s stock worth $108,750,000 after acquiring an additional 102,903 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Huntington Bancshares by 1.6% during the third quarter. Wells Fargo & Company MN now owns 5,953,052 shares of the bank’s stock worth $88,819,000 after acquiring an additional 93,854 shares in the last quarter. Institutional investors and hedge funds own 76.74% of the company’s stock.

In other news, CEO Stephen D. Steinour acquired 17,493 shares of the business’s stock in a transaction that occurred on Thursday, October 25th. The stock was acquired at an average cost of $13.48 per share, for a total transaction of $235,805.64. Following the completion of the acquisition, the chief executive officer now owns 4,768,399 shares in the company, valued at $64,278,018.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathleen H. Ransier sold 4,820 shares of the stock in a transaction on Thursday, November 29th. The stock was sold at an average price of $14.53, for a total value of $70,034.60. Following the sale, the director now owns 113,712 shares of the company’s stock, valued at $1,652,235.36. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Tuesday, December 18th were issued a $0.14 dividend. The ex-dividend date was Monday, December 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.43%. Huntington Bancshares’s payout ratio is currently 57.14%.

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 operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

Further Reading: Fundamental Analysis and Choosing Stocks

Earnings History and Estimates for Huntington Bancshares (NASDAQ:HBAN)

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