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

Huntington Bancshares (NASDAQ:HBAN) announced its quarterly earnings data on Thursday. The bank reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03, Zacks reports. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%.

Huntington Bancshares Trading Down 1.0 %

Shares of HBAN stock opened at $13.27 on Thursday. Huntington Bancshares has a 1 year low of $11.92 and a 1 year high of $18.45. The stock has a 50 day simple moving average of $14.99 and a 200 day simple moving average of $16.01. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The stock has a market cap of $19.38 billion, a P/E ratio of 10.79, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th were paid a $0.155 dividend. The ex-dividend date of this dividend was Tuesday, March 18th. This represents a $0.62 annualized dividend and a yield of 4.67%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.41%.

Insider Buying and Selling

In other news, VP Brendan A. Lawlor sold 3,521 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $15.25, for a total transaction of $53,695.25. Following the sale, the vice president now directly owns 47,950 shares in the company, valued at approximately $731,237.50. The trade was a 6.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Zachary Jacob Wasserman sold 38,451 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $14.38, for a total transaction of $552,925.38. Following the completion of the transaction, the chief financial officer now owns 335,538 shares of the company’s stock, valued at approximately $4,825,036.44. This trade represents a 10.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,781 shares of company stock worth $1,631,151 in the last ninety days. 0.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HBAN. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $18.00 target price for the company in a report on Friday, March 7th. Stephens reissued an “equal weight” rating and set a $18.50 price target on shares of Huntington Bancshares in a research note on Friday, February 7th. Morgan Stanley lowered their target price on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, March 13th. Truist Financial upped their price objective on Huntington Bancshares from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of Huntington Bancshares in a research note on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $17.94.

About Huntington Bancshares

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.