Huntington Bancshares (NASDAQ:HBAN) Issues Quarterly Earnings Results

Huntington Bancshares (NASDAQ:HBANGet Free Report) released its earnings results on Friday. The bank reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.03, Briefing.com reports. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The firm had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share.

Huntington Bancshares Stock Up 0.8 %

HBAN stock opened at $13.28 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $13.27 and a two-hundred day moving average price of $12.15. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 11.96, a P/E/G ratio of 2.47 and a beta of 1.11. Huntington Bancshares has a twelve month low of $9.13 and a twelve month high of $14.07.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 4.67%. Huntington Bancshares’s dividend payout ratio is 55.86%.

Analyst Ratings Changes

A number of research firms have recently commented on HBAN. Evercore ISI raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. DA Davidson raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $15.50 in a research report on Tuesday, February 27th. Keefe, Bruyette & Woods raised their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, April 5th. Morgan Stanley raised their price target on Huntington Bancshares from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, Citigroup raised their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.97.

View Our Latest Research Report on Huntington Bancshares

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders sold a total of 102,241 shares of company stock worth $1,360,359 over the last ninety days. 0.89% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tyler Stone Wealth Management bought a new position in shares of Huntington Bancshares during the 2nd quarter worth approximately $25,000. Clear Street Markets LLC boosted its stake in shares of Huntington Bancshares by 81.6% during the 1st quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock worth $32,000 after acquiring an additional 1,272 shares during the period. Sunbelt Securities Inc. bought a new stake in Huntington Bancshares in the 1st quarter valued at $35,000. Quarry LP boosted its stake in Huntington Bancshares by 68.8% in the 1st quarter. Quarry LP now owns 3,777 shares of the bank’s stock valued at $42,000 after purchasing an additional 1,539 shares during the period. Finally, Worth Asset Management LLC bought a new stake in Huntington Bancshares in the 1st quarter valued at $45,000. 80.72% of the stock is currently owned by institutional investors.

Huntington Bancshares Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Huntington Bancshares (NASDAQ:HBAN)

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