$1.16 Billion in Sales Expected for Huntington Bancshares Incorporated (HBAN) This Quarter
Equities analysts forecast that Huntington Bancshares Incorporated (NASDAQ:HBAN) will announce $1.16 billion in sales for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Huntington Bancshares’ earnings. The highest sales estimate is $1.18 billion and the lowest is $1.14 billion. Huntington Bancshares posted sales of $1.11 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.5%. The business is scheduled to announce its next quarterly earnings report on Tuesday, January 22nd.
According to Zacks, analysts expect that Huntington Bancshares will report full-year sales of $4.50 billion for the current fiscal year, with estimates ranging from $4.47 billion to $4.53 billion. For the next financial year, analysts anticipate that the company will post sales of $4.77 billion, with estimates ranging from $4.71 billion to $4.85 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Tuesday, October 23rd. The bank reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.01. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. Huntington Bancshares had a return on equity of 13.73% and a net margin of 29.13%. Huntington Bancshares’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.25 earnings per share.
HBAN traded down $0.15 during trading on Wednesday, reaching $14.42. 11,393,663 shares of the stock were exchanged, compared to its average volume of 10,065,135. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.89 and a current ratio of 0.90. The company has a market cap of $15.75 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.84 and a beta of 1.26. Huntington Bancshares has a 1 year low of $13.13 and a 1 year high of $16.60.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Tuesday, December 18th will be given a $0.14 dividend. The ex-dividend date is Monday, December 17th. This represents a $0.56 annualized dividend and a dividend yield of 3.88%. Huntington Bancshares’s dividend payout ratio is currently 57.14%.
In related news, Director Richard W. Neu acquired 6,750 shares of Huntington Bancshares stock in a transaction dated Tuesday, October 30th. The shares were acquired at an average cost of $13.88 per share, for a total transaction of $93,690.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Helga Houston sold 42,608 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $14.66, for a total value of $624,633.28. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of HBAN. Conning Inc. lifted its position in shares of Huntington Bancshares by 6,415.4% in the third quarter. Conning Inc. now owns 2,265,666 shares of the bank’s stock valued at $33,804,000 after acquiring an additional 2,230,892 shares in the last quarter. Stelliam Investment Management LP acquired a new position in Huntington Bancshares in the second quarter valued at $32,620,000. Capital World Investors acquired a new position in Huntington Bancshares in the third quarter valued at $31,742,000. Janus Henderson Group PLC increased its stake in Huntington Bancshares by 437.2% in the second quarter. Janus Henderson Group PLC now owns 2,572,833 shares of the bank’s stock valued at $37,976,000 after purchasing an additional 2,093,922 shares during the last quarter. Finally, Capital Research Global Investors acquired a new position in Huntington Bancshares in the third quarter valued at $29,531,000. Institutional investors and hedge funds own 76.42% of the company’s stock.
Huntington Bancshares Company Profile
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's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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