Huntington Bancshares (NASDAQ:HBAN) Issues Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Huntington Bancshares (NASDAQ:HBAN) announced its quarterly earnings data on Friday. The bank reported $0.28 EPS 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%. During the same quarter last year, the company earned $0.38 earnings per share.

Huntington Bancshares Trading Up 0.8 %

Huntington Bancshares stock traded up $0.10 during midday trading on Friday, reaching $13.28. The stock had a trading volume of 39,981,446 shares, compared to its average volume of 14,462,811. Huntington Bancshares has a 52-week low of $9.13 and a 52-week high of $14.07. 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 firm has a market cap of $19.26 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 2.45 and a beta of 1.11. The company has a fifty day moving average of $13.27 and a 200 day moving average of $12.13.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.67%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.00%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Raymond James upped their price target on Huntington Bancshares from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, December 26th. Royal Bank of Canada lifted their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Barclays upgraded shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $12.00 to $15.00 in a research note on Tuesday, January 2nd. Citigroup upped their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, DA Davidson upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.97.

Insider Activity

In other news, insider Helga Houston sold 28,700 shares of the business’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total value of $377,979.00. Following the completion of the sale, the insider now owns 568,222 shares in the company, valued at approximately $7,483,483.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction 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 transaction, the vice president now directly owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Helga Houston sold 28,700 shares of the stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total value of $377,979.00. Following the sale, the insider now owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,241 shares of company stock valued at $1,360,359. 0.89% of the stock is currently owned by company insiders.

Institutional Trading of Huntington Bancshares

A number of institutional investors have recently bought and sold shares of the stock. O Dell Group LLC purchased a new position in shares of Huntington Bancshares in the fourth quarter worth $110,000. CENTRAL TRUST Co grew its stake in Huntington Bancshares by 46.2% during the 3rd quarter. CENTRAL TRUST Co now owns 7,641 shares of the bank’s stock valued at $101,000 after purchasing an additional 2,415 shares during the last quarter. Covestor Ltd increased its holdings in shares of Huntington Bancshares by 70.3% in the first quarter. Covestor Ltd now owns 6,407 shares of the bank’s stock valued at $94,000 after purchasing an additional 2,644 shares during the period. State of Wyoming raised its stake in shares of Huntington Bancshares by 30.7% in the second quarter. State of Wyoming now owns 6,721 shares of the bank’s stock worth $72,000 after purchasing an additional 1,578 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth about $58,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.