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

Huntington Bancshares (NASDAQ:HBAN) issued its earnings results on Friday. The bank reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03, Zacks reports. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same period last year, the business earned $0.27 earnings per share.

Huntington Bancshares Stock Up 1.0 %

Shares of Huntington Bancshares stock opened at $17.01 on Friday. The stock has a market cap of $24.71 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. The business has a fifty day simple moving average of $17.06 and a 200 day simple moving average of $15.47. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.86. Huntington Bancshares has a 12 month low of $12.02 and a 12 month high of $18.44.

Huntington Bancshares Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HBAN shares. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Huntington Bancshares in a research note on Monday, December 23rd. DA Davidson raised their price target on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. The Goldman Sachs Group increased their target price on Huntington Bancshares from $16.25 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Sandler O’Neill restated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Finally, StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.76.

Insider Activity at Huntington Bancshares

In related news, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares of the company’s stock, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total transaction of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at $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. Over the last 90 days, insiders sold 43,699 shares of company stock worth $757,356. 0.92% of the stock is currently owned by company insiders.

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.