Brokerages predict that Huntington Bancshares Incorporated (NASDAQ:HBAN) will announce $0.22 earnings per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Huntington Bancshares’ earnings. The highest EPS estimate is $0.24 and the lowest is $0.20. Huntington Bancshares reported earnings of $0.20 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 10%. The firm is scheduled to report its next earnings results before the market opens on Wednesday, April 19th.
According to Zacks, analysts expect that Huntington Bancshares will report full-year earnings of $0.97 per share for the current fiscal year, with EPS estimates ranging from $0.93 to $1.00. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.10 per share, with EPS estimates ranging from $1.09 to $1.12. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Wednesday, January 25th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. The business earned $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. Huntington Bancshares had a return on equity of 11.09% and a net margin of 18.11%. Huntington Bancshares’s revenue was up 39.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share.
A number of equities research analysts have commented on HBAN shares. Royal Bank of Canada reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Saturday, December 17th. BMO Capital Markets upgraded Huntington Bancshares from a “market perform” rating to an “outperform” rating and upped their price target for the company from $13.00 to $16.00 in a research report on Tuesday, December 20th. They noted that the move was a valuation call. Deutsche Bank AG reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, December 23rd. Barclays PLC upped their price target on Huntington Bancshares from $11.00 to $14.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 3rd. Finally, Zacks Investment Research lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, January 16th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $14.02.
Shares of Huntington Bancshares (NASDAQ:HBAN) traded down 2.10% on Monday, hitting $12.59. The company had a trading volume of 9,686,156 shares. The company has a market capitalization of $13.67 billion, a P/E ratio of 17.99 and a beta of 1.24. Huntington Bancshares has a 12-month low of $8.05 and a 12-month high of $14.74. The firm has a 50-day moving average price of $13.66 and a 200 day moving average price of $12.57.
The company also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Investors of record on Monday, March 20th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date was Thursday, March 16th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.06%.
In other news, Director John C. Inglis purchased 7,142 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The shares were acquired at an average cost of $14.06 per share, with a total value of $100,416.52. Following the purchase, the director now owns 7,142 shares in the company, valued at $100,416.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.65% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Huntington Bancshares during the fourth quarter worth $200,168,000. The Manufacturers Life Insurance Company purchased a new position in Huntington Bancshares during the third quarter worth $125,437,000. Credit Suisse AG increased its position in Huntington Bancshares by 352.9% in the third quarter. Credit Suisse AG now owns 11,041,779 shares of the company’s stock worth $108,873,000 after buying an additional 8,603,800 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in Huntington Bancshares by 38.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 29,848,986 shares of the company’s stock worth $294,311,000 after buying an additional 8,257,562 shares during the period. Finally, FMR LLC increased its position in Huntington Bancshares by 10.7% in the fourth quarter. FMR LLC now owns 80,740,836 shares of the company’s stock worth $1,067,393,000 after buying an additional 7,795,713 shares during the period. 70.49% of the stock is currently owned by institutional investors and hedge funds.
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About Huntington Bancshares
Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.
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