$1.14 Billion in Sales Expected for Huntington Bancshares Incorporated (NASDAQ:HBAN) This Quarter

Wall Street analysts forecast that Huntington Bancshares Incorporated (NASDAQ:HBAN) will post sales of $1.14 billion for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Huntington Bancshares’ earnings. The highest sales estimate is $1.15 billion and the lowest is $1.12 billion. Huntington Bancshares posted sales of $1.19 billion in the same quarter last year, which suggests a negative year over year growth rate of 4.2%. The company is scheduled to issue its next quarterly earnings results before the market opens on Thursday, July 23rd.

On average, analysts expect that Huntington Bancshares will report full-year sales of $4.63 billion for the current year, with estimates ranging from $4.50 billion to $4.76 billion. For the next year, analysts expect that the company will post sales of $4.63 billion, with estimates ranging from $4.41 billion to $4.77 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Huntington Bancshares.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.09). Huntington Bancshares had a return on equity of 10.40% and a net margin of 19.65%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the company earned $0.32 EPS. Huntington Bancshares’s revenue for the quarter was up .8% on a year-over-year basis.

A number of equities research analysts recently commented on the company. ValuEngine raised Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, June 5th. DA Davidson began coverage on Huntington Bancshares in a report on Monday, March 23rd. They issued a “hold” rating and a $8.00 price objective on the stock. Nomura reissued a “hold” rating and issued a $7.00 price target on shares of Huntington Bancshares in a report on Sunday, April 26th. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $15.00 price target for the company in a research report on Monday, March 9th. Finally, Morgan Stanley boosted their price objective on Huntington Bancshares from $10.50 to $11.00 and gave the stock an “equal weight” rating in a research note on Monday, June 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $10.95.

In other news, EVP Paul G. Heller sold 46,726 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $9.10, for a total value of $425,206.60. Following the sale, the executive vice president now directly owns 532,943 shares of the company’s stock, valued at approximately $4,849,781.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark E. Thompson sold 11,464 shares of the company’s stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $8.68, for a total transaction of $99,507.52. Following the completion of the transaction, the executive vice president now owns 644,809 shares in the company, valued at approximately $5,596,942.12. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. TFG Advisers LLC bought a new position in Huntington Bancshares during the 4th quarter valued at about $29,000. Quadrant Capital Group LLC grew its holdings in shares of Huntington Bancshares by 128.5% in the fourth quarter. Quadrant Capital Group LLC now owns 3,062 shares of the bank’s stock valued at $39,000 after purchasing an additional 1,722 shares in the last quarter. Ballast Advisors LLC purchased a new position in shares of Huntington Bancshares in the first quarter valued at $25,000. Golden State Wealth Management LLC purchased a new position in shares of Huntington Bancshares in the first quarter valued at $25,000. Finally, Asset Dedication LLC grew its holdings in shares of Huntington Bancshares by 421.7% in the first quarter. Asset Dedication LLC now owns 3,433 shares of the bank’s stock valued at $29,000 after purchasing an additional 2,775 shares in the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.

Shares of NASDAQ:HBAN traded down $0.04 on Tuesday, hitting $8.60. 13,676,491 shares of the company’s stock were exchanged, compared to its average volume of 14,509,430. The stock has a market capitalization of $8.76 billion, a price-to-earnings ratio of 8.78, a price-to-earnings-growth ratio of 4.19 and a beta of 1.53. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a 12 month low of $6.82 and a 12 month high of $15.63. The business’s 50 day simple moving average is $9.29 and its two-hundred day simple moving average is $11.07.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.98%. The ex-dividend date of this dividend was Tuesday, June 16th. Huntington Bancshares’s dividend payout ratio (DPR) is 47.24%.

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

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

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