Brokerages Expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to Post $0.33 Earnings Per Share

Wall Street analysts expect that Huntington Bancshares Incorporated (NASDAQ:HBAN) will announce earnings per share (EPS) of $0.33 for the current quarter, Zacks Investment Research reports. Six analysts have provided estimates for Huntington Bancshares’ earnings, with the highest EPS estimate coming in at $0.34 and the lowest estimate coming in at $0.33. Huntington Bancshares also posted earnings per share of $0.33 during the same quarter last year. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, October 24th.

On average, analysts expect that Huntington Bancshares will report full-year earnings of $1.31 per share for the current fiscal year, with EPS estimates ranging from $1.29 to $1.32. For the next financial year, analysts anticipate that the business will report earnings of $1.33 per share, with EPS estimates ranging from $1.29 to $1.39. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Huntington Bancshares.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, July 25th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.01. Huntington Bancshares had a return on equity of 14.23% and a net margin of 25.77%. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The firm’s revenue was up 5.9% compared to the same quarter last year.

Several research firms have recently issued reports on HBAN. BidaskClub raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, September 2nd. Raymond James set a $14.00 price objective on Huntington Bancshares and gave the company a “buy” rating in a research note on Thursday, August 29th. Macquarie downgraded Huntington Bancshares from a “neutral” rating to an “underperform” rating and set a $13.78 price objective for the company. in a research note on Friday, July 12th. DA Davidson downgraded Huntington Bancshares from a “buy” rating to a “neutral” rating and set a $16.00 price objective for the company. in a research note on Friday, September 13th. They noted that the move was a valuation call. Finally, Nomura set a $14.00 price objective on Huntington Bancshares and gave the company a “hold” rating in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $15.09.

Shares of Huntington Bancshares stock traded up $0.17 on Monday, hitting $14.36. The stock had a trading volume of 5,750,451 shares, compared to its average volume of 10,621,713. The stock has a 50 day moving average of $14.01 and a 200 day moving average of $13.58. Huntington Bancshares has a twelve month low of $11.12 and a twelve month high of $14.97. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $14.72 billion, a P/E ratio of 11.97, a PEG ratio of 1.42 and a beta of 1.45.

In other Huntington Bancshares news, EVP Nancy E. Maloney sold 2,604 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $14.57, for a total transaction of $37,940.28. Following the completion of the sale, the executive vice president now owns 80,103 shares of the company’s stock, valued at approximately $1,167,100.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.22% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Cornerstone Advisors Inc. increased its position in Huntington Bancshares by 106.5% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,305 shares of the bank’s stock valued at $32,000 after purchasing an additional 1,189 shares during the period. HM Payson & Co. bought a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $40,000. CSat Investment Advisory L.P. boosted its holdings in shares of Huntington Bancshares by 155.7% during the 2nd quarter. CSat Investment Advisory L.P. now owns 3,759 shares of the bank’s stock worth $52,000 after buying an additional 2,289 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in shares of Huntington Bancshares by 55.7% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 3,774 shares of the bank’s stock worth $54,000 after buying an additional 1,350 shares in the last quarter. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Huntington Bancshares by 28.5% during the 2nd quarter. AdvisorNet Financial Inc now owns 4,414 shares of the bank’s stock worth $61,000 after buying an additional 980 shares in the last quarter. 75.13% of the stock is owned by institutional investors and hedge funds.

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: Consumer Price Index (CPI)

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

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