Huntington Bancshares Incorporated to Post FY2017 Earnings of $0.91 Per Share, Wedbush Forecasts (NASDAQ:HBAN)
Huntington Bancshares Incorporated (NASDAQ:HBAN) – Research analysts at Wedbush reduced their FY2017 EPS estimates for shares of Huntington Bancshares in a report issued on Sunday. Wedbush analyst P. Winter now forecasts that the bank will post earnings of $0.91 per share for the year, down from their previous estimate of $0.94.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, April 19th. The bank reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by $0.01. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Huntington Bancshares had a net margin of 17.54% and a return on equity of 11.07%. The business’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. ILLEGAL ACTIVITY WARNING: This news story was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2017/08/07/huntington-bancshares-incorporated-to-post-fy2017-earnings-of-0-91-per-share-wedbush-forecasts-nasdaqhban-updated-updated-updated.html.
A number of other equities analysts have also recently issued reports on the company. Keefe, Bruyette & Woods set a $14.00 target price on Huntington Bancshares and gave the stock a “hold” rating in a report on Saturday, June 24th. Instinet restated a “buy” rating and set a $16.00 price target (up from $15.00) on shares of Huntington Bancshares in a research report on Wednesday. BidaskClub upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Deutsche Bank AG restated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Finally, BMO Capital Markets restated a “buy” rating and set a $16.00 price target on shares of Huntington Bancshares in a research report on Friday, June 9th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Huntington Bancshares presently has a consensus rating of “Hold” and an average price target of $14.23.
Shares of Huntington Bancshares (HBAN) traded down 0.22% during midday trading on Tuesday, hitting $13.68. The company had a trading volume of 2,927,127 shares. The company’s 50 day moving average is $12.90 and its 200 day moving average is $13.29. Huntington Bancshares has a one year low of $8.68 and a one year high of $14.74. The firm has a market cap of $14.87 billion, a price-to-earnings ratio of 20.30 and a beta of 1.37.
A number of hedge funds have recently modified their holdings of the stock. City Holding Co. boosted its position in Huntington Bancshares by 17.5% in the first quarter. City Holding Co. now owns 8,057 shares of the bank’s stock worth $108,000 after buying an additional 1,200 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in Huntington Bancshares by 371.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 9,548 shares of the bank’s stock worth $128,000 after buying an additional 7,521 shares in the last quarter. Moody Lynn & Lieberson LLC acquired a new stake in Huntington Bancshares during the first quarter worth $134,000. Sigma Planning Corp acquired a new stake in Huntington Bancshares during the first quarter worth $137,000. Finally, Affinity Wealth Management acquired a new stake in Huntington Bancshares during the first quarter worth $141,000. 75.26% of the stock is currently owned by institutional investors and hedge funds.
In other Huntington Bancshares news, EVP Paul G. Heller sold 35,720 shares of the company’s stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $12.93, for a total transaction of $461,859.60. Following the sale, the executive vice president now owns 443,883 shares of the company’s stock, valued at $5,739,407.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andrew J. Harmening purchased 15,490 shares of the business’s stock in a transaction on Monday, May 15th. The shares were purchased at an average cost of $12.92 per share, for a total transaction of $200,130.80. Following the transaction, the executive vice president now directly owns 35,543 shares of the company’s stock, valued at approximately $459,215.56. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 19th were paid a $0.08 dividend. The ex-dividend date was Thursday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.33%. Huntington Bancshares’s dividend payout ratio is 49.23%.
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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