Huntington Bancshares (NASDAQ:HBAN) Announces Earnings Results

Huntington Bancshares (NASDAQ:HBAN) released its earnings results on Friday. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03, Briefing.com reports. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. During the same period last year, the business posted $0.38 EPS.

Huntington Bancshares Stock Performance

HBAN traded up $0.10 on Friday, reaching $13.28. The company had a trading volume of 39,981,446 shares, compared to its average volume of 14,462,811. Huntington Bancshares has a 1 year low of $9.13 and a 1 year high of $14.07. The stock has a market capitalization of $19.26 billion, a PE ratio of 10.71, a P/E/G ratio of 2.45 and a beta of 1.11. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock has a 50-day moving average price of $13.27 and a 200-day moving average price of $12.13.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.67%. Huntington Bancshares’s payout ratio is currently 50.00%.

Insider Activity at Huntington Bancshares

In related news, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the sale, the vice president now directly owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders sold a total of 102,241 shares of company stock valued at $1,360,359 over the last ninety days. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tyler Stone Wealth Management acquired a new position in shares of Huntington Bancshares during the second quarter worth about $25,000. Clear Street Markets LLC increased its stake in shares of Huntington Bancshares by 81.6% during the first quarter. Clear Street Markets LLC now owns 2,831 shares of the bank’s stock worth $32,000 after acquiring an additional 1,272 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Huntington Bancshares during the first quarter worth about $35,000. Coppell Advisory Solutions Corp. acquired a new position in Huntington Bancshares during the fourth quarter worth about $46,000. Finally, Worth Asset Management LLC acquired a new position in Huntington Bancshares during the first quarter worth about $45,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HBAN shares. Stephens reissued an “equal weight” rating and issued a $15.00 target price on shares of Huntington Bancshares in a research note on Monday, April 1st. Citigroup lifted their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. JPMorgan Chase & Co. lifted their price target on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. Keefe, Bruyette & Woods lifted their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Finally, Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their target price for the company from $14.00 to $16.00 in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.97.

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.