Huntington Bancshares (NASDAQ:HBAN) Announces Quarterly Earnings Results

Huntington Bancshares (NASDAQ:HBAN) released its quarterly 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 net margin of 18.00% and a return on equity of 12.96%. The firm had revenue of $2.85 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm earned $0.38 EPS.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $13.28 on Friday. The firm’s fifty day moving average price is $13.27 and its two-hundred day moving average price is $12.15. The stock has a market cap of $19.26 billion, a PE ratio of 11.96, a PEG ratio of 2.47 and a beta of 1.11. Huntington Bancshares has a fifty-two week low of $9.13 and a fifty-two week high of $14.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.87.

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 paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.67%. Huntington Bancshares’s payout ratio is presently 55.86%.

Insiders Place Their Bets

In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 completion of the sale, the insider now directly owns 568,222 shares in the company, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,241 shares of company stock valued at $1,360,359. 0.89% of the stock is currently owned by insiders.

Institutional Trading of Huntington Bancshares

Several institutional investors have recently modified their holdings of HBAN. Tyler Stone Wealth Management bought a new stake in shares of Huntington Bancshares in the second quarter worth $25,000. Clear Street Markets LLC boosted its position in Huntington Bancshares by 81.6% during the first quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock valued at $32,000 after acquiring an additional 1,272 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in Huntington Bancshares during the first quarter valued at $35,000. Quarry LP boosted its position in Huntington Bancshares by 68.8% during the first quarter. Quarry LP now owns 3,777 shares of the bank’s stock valued at $42,000 after acquiring an additional 1,539 shares during the last quarter. Finally, Worth Asset Management LLC bought a new stake in Huntington Bancshares during the first quarter valued at $45,000. Institutional investors own 80.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HBAN shares. Raymond James raised their target price on shares of Huntington Bancshares from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a report on Tuesday, December 26th. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and raised their target price for the stock from $14.00 to $16.00 in a report on Monday, April 8th. Citigroup raised their target price 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. StockNews.com cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.97.

About Huntington Bancshares

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.