Research Analysts Offer Predictions for Huntington Bancshares Incorporated’s Q3 2017 Earnings (HBAN)
Huntington Bancshares Incorporated (NASDAQ:HBAN) – Research analysts at Jefferies Group lifted their Q3 2017 earnings estimates for shares of Huntington Bancshares in a note issued to investors on Monday. Jefferies Group analyst K. Usdin now forecasts that the bank will post earnings of $0.25 per share for the quarter, up from their prior estimate of $0.24. Jefferies Group also issued estimates for Huntington Bancshares’ Q4 2017 earnings at $0.26 EPS, FY2017 earnings at $0.99 EPS, Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.27 EPS, Q4 2018 earnings at $0.28 EPS and FY2018 earnings at $1.06 EPS.
A number of other research analysts have also recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Huntington Bancshares from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $15.00 to $17.00 in a report on Thursday, September 14th. Royal Bank Of Canada reiterated a “buy” rating and set a $16.00 price objective on shares of Huntington Bancshares in a report on Friday, September 8th. JMP Securities began coverage on shares of Huntington Bancshares in a report on Thursday, August 31st. They set an “outperform” rating and a $15.00 price objective for the company. Keefe, Bruyette & Woods set a $14.00 price objective on shares of Huntington Bancshares and gave the company a “hold” rating in a report on Friday, August 11th. Finally, Piper Jaffray Companies upgraded shares of Huntington Bancshares from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $14.00 to $15.00 in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $15.01.
Huntington Bancshares (NASDAQ:HBAN) opened at 13.85 on Wednesday. The company has a 50-day moving average of $13.16 and a 200-day moving average of $13.10. The firm has a market capitalization of $15.10 billion, a price-to-earnings ratio of 19.18 and a beta of 1.38. Huntington Bancshares has a 52 week low of $9.57 and a 52 week high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same period in the prior year, the business earned $0.19 EPS.
A number of institutional investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its position in Huntington Bancshares by 12.4% in the first quarter. UBS Asset Management Americas Inc. now owns 2,752,379 shares of the bank’s stock worth $36,854,000 after acquiring an additional 303,683 shares during the period. AXA raised its position in Huntington Bancshares by 34.5% in the first quarter. AXA now owns 167,300 shares of the bank’s stock worth $2,240,000 after acquiring an additional 42,900 shares during the period. Teachers Advisors LLC raised its position in Huntington Bancshares by 37.1% in the first quarter. Teachers Advisors LLC now owns 5,580,551 shares of the bank’s stock worth $74,724,000 after acquiring an additional 1,511,023 shares during the period. WINTON GROUP Ltd raised its position in Huntington Bancshares by 565.1% in the first quarter. WINTON GROUP Ltd now owns 1,330,356 shares of the bank’s stock worth $13,117,000 after acquiring an additional 1,130,339 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in Huntington Bancshares by 1.2% in the first quarter. PNC Financial Services Group Inc. now owns 3,236,185 shares of the bank’s stock worth $43,333,000 after acquiring an additional 38,264 shares during the period. Institutional investors and hedge funds own 74.17% of the company’s stock.
In other news, Director Richard W. Neu purchased 2,450 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The shares were acquired at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the completion of the acquisition, the director now owns 184,596 shares in the company, valued at $2,418,207.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Nicholas G. Stanutz sold 16,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $12.71, for a total transaction of $203,360.00. Following the transaction, the executive vice president now owns 447,722 shares in the company, valued at $5,690,546.62. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 18th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Friday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 46.38%.
Huntington Bancshares announced that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $308.00 million in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 2.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
About Huntington Bancshares
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.
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