Huntington Bancshares (NASDAQ:HBAN) Posts Earnings Results, Beats Expectations By $0.03 EPS

Huntington Bancshares (NASDAQ:HBAN) announced its earnings results on Friday. The bank reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03, Briefing.com reports. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. During the same quarter in the previous year, the company posted $0.38 earnings per share.

Huntington Bancshares Stock Up 0.8 %

HBAN stock traded up $0.10 during mid-day trading on Friday, hitting $13.28. 39,981,446 shares of the company were exchanged, compared to its average volume of 14,462,811. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market cap of $19.26 billion, a P/E ratio of 10.71, a P/E/G ratio of 2.45 and a beta of 1.11. The firm’s 50 day simple moving average is $13.27 and its 200 day simple moving average is $12.13. Huntington Bancshares has a 1-year low of $9.13 and a 1-year high of $14.07.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 4.67%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 50.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on HBAN shares. Morgan Stanley increased their price objective on shares of Huntington Bancshares from $13.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Citigroup increased their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. DA Davidson raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Evercore ISI increased their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $16.00 in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $14.97.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 28,700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total transaction of $377,979.00. Following the sale, the insider now directly owns 568,222 shares in the company, valued at approximately $7,483,483.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the transaction, the vice president now directly owns 303,455 shares in the company, valued at $3,847,809.40. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Helga Houston sold 28,700 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the transaction, the insider now owns 568,222 shares in the company, valued at $7,483,483.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,241 shares of company stock worth $1,360,359. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors have recently added to or reduced their stakes in the company. O Dell Group LLC bought a new position in Huntington Bancshares during the fourth quarter worth $110,000. CENTRAL TRUST Co boosted its position in Huntington Bancshares by 46.2% during the third quarter. CENTRAL TRUST Co now owns 7,641 shares of the bank’s stock worth $101,000 after purchasing an additional 2,415 shares during the period. Covestor Ltd boosted its position in Huntington Bancshares by 70.3% during the first quarter. Covestor Ltd now owns 6,407 shares of the bank’s stock worth $94,000 after purchasing an additional 2,644 shares during the period. State of Wyoming boosted its position in Huntington Bancshares by 30.7% during the second quarter. State of Wyoming now owns 6,721 shares of the bank’s stock worth $72,000 after purchasing an additional 1,578 shares during the period. Finally, Point72 Hong Kong Ltd bought a new position in Huntington Bancshares during the fourth quarter worth $58,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.