Jefferies Financial Group Weighs in on Huntington Bancshares Incorporated’s Q3 2021 Earnings (NASDAQ:HBAN)
Huntington Bancshares Incorporated (NASDAQ:HBAN) – Investment analysts at Jefferies Financial Group lowered their Q3 2021 earnings per share estimates for shares of Huntington Bancshares in a research report issued to clients and investors on Thursday, July 9th. Jefferies Financial Group analyst K. Usdin now forecasts that the bank will post earnings per share of $0.23 for the quarter, down from their prior forecast of $0.33. Jefferies Financial Group also issued estimates for Huntington Bancshares’ Q4 2021 earnings at $0.28 EPS.
HBAN has been the subject of several other research reports. UBS Group boosted their price target on shares of Huntington Bancshares from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Barclays reissued a “hold” rating and issued a $12.00 price objective on shares of Huntington Bancshares in a research note on Thursday, April 9th. ValuEngine raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, June 5th. DA Davidson assumed coverage on Huntington Bancshares in a report on Monday, March 23rd. They issued a “hold” rating and a $8.00 price target on the stock. Finally, Nomura restated a “hold” rating and set a $7.00 price objective on shares of Huntington Bancshares in a research note on Sunday, April 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $10.39.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.09). The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.15 billion. Huntington Bancshares had a return on equity of 10.40% and a net margin of 19.65%. Huntington Bancshares’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS.
Several hedge funds have recently made changes to their positions in HBAN. Ballast Advisors LLC purchased a new position in shares of Huntington Bancshares in the first quarter worth about $25,000. Golden State Wealth Management LLC purchased a new stake in Huntington Bancshares in the first quarter valued at approximately $25,000. TFG Advisers LLC acquired a new position in Huntington Bancshares in the 4th quarter worth approximately $29,000. Asset Dedication LLC raised its position in Huntington Bancshares by 421.7% during the 1st quarter. Asset Dedication LLC now owns 3,433 shares of the bank’s stock worth $29,000 after buying an additional 2,775 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in Huntington Bancshares by 128.5% during the 4th quarter. Quadrant Capital Group LLC now owns 3,062 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,722 shares during the period. 73.91% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Mark E. Thompson sold 11,464 shares of the firm’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $8.68, for a total value of $99,507.52. Following the completion of the transaction, the executive vice president now owns 644,809 shares in the company, valued at approximately $5,596,942.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul G. Heller sold 46,726 shares of Huntington Bancshares stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $9.10, for a total value of $425,206.60. Following the sale, the executive vice president now directly owns 532,943 shares of the company’s stock, valued at approximately $4,849,781.30. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Wednesday, June 17th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, June 16th. This represents a $0.60 annualized dividend and a dividend yield of 6.92%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 47.24%.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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