Huntington Bancshares (NASDAQ:HBAN) Announces Quarterly Earnings Results

Huntington Bancshares (NASDAQ:HBAN) released its earnings results on Friday. The bank reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03, Zacks reports. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the previous year, the company posted $0.27 earnings per share.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $17.01 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $24.71 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 1.07. The company’s fifty day moving average is $17.06 and its two-hundred day moving average is $15.45. Huntington Bancshares has a 52-week low of $12.02 and a 52-week high of $18.44.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 18th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.64%. Huntington Bancshares’s dividend payout ratio is 59.62%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HBAN shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research report on Monday, December 23rd. Piper Sandler boosted their price objective on shares of Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. DA Davidson boosted their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and an average price target of $17.76.

Insider Activity

In other news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now directly owns 558,342 shares in the company, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the transaction, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,699 shares of company stock worth $757,356. Corporate insiders own 0.89% of the company’s stock.

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.