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

Huntington Bancshares (NASDAQ:HBAN) announced its earnings results 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 business posted $0.38 EPS.

Huntington Bancshares Stock Up 0.8 %

HBAN stock traded up $0.10 during midday trading on Friday, hitting $13.28. The company’s stock had a trading volume of 39,981,446 shares, compared to its average volume of 14,462,811. The company has a market cap of $19.26 billion, a PE ratio of 10.71, a P/E/G ratio of 2.45 and a beta of 1.11. Huntington Bancshares has a 12 month low of $9.13 and a 12 month high of $14.07. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The firm’s 50-day moving average is $13.27 and its 200-day moving average is $12.13.

Huntington Bancshares Dividend Announcement

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

Insider Activity at Huntington Bancshares

In related news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was 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 approximately $3,847,809.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Helga Houston sold 28,700 shares of the firm’s stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the transaction, the insider now directly 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 accessible through this link. Also, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now directly owns 303,455 shares in the company, valued at $3,847,809.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,241 shares of company stock valued at $1,360,359. 0.89% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of institutional investors have recently bought and sold shares of the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in Huntington Bancshares by 12.3% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,573,633 shares of the bank’s stock worth $70,897,000 after purchasing an additional 611,580 shares during the period. DRW Securities LLC bought a new stake in Huntington Bancshares during the fourth quarter valued at about $200,000. Harbour Investments Inc. raised its holdings in Huntington Bancshares by 6.9% during the fourth quarter. Harbour Investments Inc. now owns 24,601 shares of the bank’s stock valued at $313,000 after acquiring an additional 1,582 shares during the period. O Dell Group LLC bought a new stake in Huntington Bancshares during the fourth quarter valued at about $110,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Huntington Bancshares by 2.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 603,008 shares of the bank’s stock valued at $7,670,000 after acquiring an additional 16,606 shares during the period. 80.72% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Keefe, Bruyette & Woods upped their target price on Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Bank of America upgraded Huntington Bancshares from a “neutral” 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 8th. Barclays upgraded Huntington Bancshares from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $12.00 to $15.00 in a report on Tuesday, January 2nd. Citigroup increased their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Finally, Raymond James increased their price target on Huntington Bancshares from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a report on Tuesday, December 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and an average target price of $14.97.

Huntington Bancshares Company Profile

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.