Huntington Bancshares (NASDAQ:HBAN) Issues Quarterly Earnings Results

Huntington Bancshares (NASDAQ:HBAN) announced its quarterly earnings data on Thursday. The bank reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03), FiscalAI reports. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the business posted $0.34 EPS.

Huntington Bancshares Stock Up 4.3%

Shares of HBAN opened at $18.77 on Thursday. The company has a market capitalization of $29.56 billion, a P/E ratio of 13.13, a PEG ratio of 0.67 and a beta of 0.95. Huntington Bancshares has a one year low of $11.91 and a one year high of $18.91. The business’s 50 day simple moving average is $17.21 and its 200-day simple moving average is $16.88. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91.

Analyst Ratings Changes

Several brokerages recently commented on HBAN. Deutsche Bank Aktiengesellschaft raised their target price on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, September 30th. Piper Sandler lifted their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “underweight” rating in a research report on Wednesday, December 10th. Zacks Research lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Jefferies Financial Group upped their price objective on Huntington Bancshares from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, JPMorgan Chase & Co. boosted their price target on Huntington Bancshares from $18.00 to $18.50 and gave the company an “overweight” rating in a research note on Friday, October 10th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.08.

Insider Buying and Selling

In other Huntington Bancshares news, insider Kendall A. Kowalski sold 2,481 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $17.80, for a total transaction of $44,161.80. Following the sale, the insider owned 71,566 shares of the company’s stock, valued at $1,273,874.80. This represents a 3.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Marcy C. Hingst sold 12,832 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $18.00, for a total transaction of $230,976.00. Following the completion of the transaction, the executive vice president directly owned 239,473 shares of the company’s stock, valued at approximately $4,310,514. This represents a 5.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 97,863 shares of company stock valued at $1,581,634. Insiders own 0.89% of the company’s stock.

Institutional Trading of Huntington Bancshares

Hedge funds have recently modified their holdings of the stock. Rehmann Capital Advisory Group raised its stake in Huntington Bancshares by 4.3% in the third quarter. Rehmann Capital Advisory Group now owns 16,881 shares of the bank’s stock worth $292,000 after buying an additional 694 shares in the last quarter. Glenmede Investment Management LP boosted its position in Huntington Bancshares by 1.7% during the 3rd quarter. Glenmede Investment Management LP now owns 43,702 shares of the bank’s stock valued at $755,000 after acquiring an additional 728 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Huntington Bancshares by 2.5% in the 3rd quarter. Advisory Services Network LLC now owns 29,690 shares of the bank’s stock valued at $513,000 after acquiring an additional 737 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its position in shares of Huntington Bancshares by 2.1% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 43,838 shares of the bank’s stock worth $757,000 after acquiring an additional 904 shares in the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Huntington Bancshares by 5.0% during the 1st quarter. Empowered Funds LLC now owns 28,888 shares of the bank’s stock worth $434,000 after purchasing an additional 1,366 shares during the last quarter. 80.72% of the stock is owned by institutional investors.

About Huntington Bancshares

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.