Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at Wedbush issued their Q3 2017 earnings estimates for Huntington Bancshares in a report issued on Sunday. Wedbush analyst P. Winter forecasts that the bank will earn $0.25 per share for the quarter.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, July 21st. The bank reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.03. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted $0.19 EPS.

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Several other equities research analysts also recently weighed in on HBAN. Deutsche Bank AG reaffirmed a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Tuesday, April 11th. Jefferies Group LLC raised Huntington Bancshares from a “hold” rating to a “buy” rating and increased their price target for the stock from $14.00 to $16.00 in a report on Monday, April 3rd. BMO Capital Markets reaffirmed a “buy” rating and set a $16.00 price target on shares of Huntington Bancshares in a report on Friday, April 28th. Finally, Instinet reaffirmed a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $14.90.

Huntington Bancshares (NASDAQ HBAN) opened at 13.18 on Wednesday. Huntington Bancshares has a 52-week low of $9.21 and a 52-week high of $14.74. The firm’s 50-day moving average is $13.36 and its 200-day moving average is $13.34. The stock has a market capitalization of $14.37 billion, a price-to-earnings ratio of 18.25 and a beta of 1.37.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is currently 46.38%.

Huntington Bancshares announced that its board has approved a share repurchase program on Wednesday, June 28th that authorizes the company to buyback $308.00 million in shares. This buyback authorization authorizes the bank to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

In other news, EVP Paul G. Heller sold 35,720 shares of the firm’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $12.93, for a total value of $461,859.60. Following the completion of the transaction, the executive vice president now owns 443,883 shares in the company, valued at $5,739,407.19. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Stephen D. Steinour purchased 50,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was purchased at an average price of $12.40 per share, with a total value of $620,000.00. Following the transaction, the chief executive officer now owns 3,891,831 shares of the company’s stock, valued at $48,258,704.40. The disclosure for this purchase can be found here. Company insiders own 1.30% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in HBAN. Quadrature Capital Ltd bought a new stake in Huntington Bancshares during the fourth quarter worth approximately $3,787,000. Wealthfront Inc. boosted its stake in Huntington Bancshares by 23.5% in the fourth quarter. Wealthfront Inc. now owns 18,945 shares of the bank’s stock worth $250,000 after buying an additional 3,609 shares in the last quarter. Jackson Grant Investment Advisers Inc. bought a new stake in Huntington Bancshares during the fourth quarter worth approximately $182,000. USA Financial Portformulas Corp bought a new stake in Huntington Bancshares during the fourth quarter worth approximately $614,000. Finally, Pegasus Partners Ltd. boosted its stake in Huntington Bancshares by 13.2% in the fourth quarter. Pegasus Partners Ltd. now owns 64,531 shares of the bank’s stock worth $853,000 after buying an additional 7,541 shares in the last quarter. Institutional investors and hedge funds own 75.51% of the company’s stock.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.

Earnings History and Estimates for Huntington Bancshares (NASDAQ:HBAN)

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