Wall Street analysts forecast that Huntington Bancshares Incorporated (NASDAQ:HBAN) will report $1.16 billion in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Huntington Bancshares’ earnings, with the highest sales estimate coming in at $1.17 billion and the lowest estimate coming in at $1.15 billion. Huntington Bancshares posted sales of $1.09 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.4%. The business is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, October 24th.
On average, analysts expect that Huntington Bancshares will report full year sales of $4.54 billion for the current fiscal year, with estimates ranging from $4.50 billion to $4.56 billion. For the next financial year, analysts expect that the business will post sales of $4.79 billion, with estimates ranging from $4.73 billion to $4.92 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Wednesday, July 25th. The bank reported $0.30 EPS for the quarter, topping the consensus estimate of $0.29 by $0.01. Huntington Bancshares had a net margin of 27.90% and a return on equity of 12.93%. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the business posted $0.26 earnings per share.
Several brokerages recently commented on HBAN. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Investment Research raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Thursday. Morgan Stanley reaffirmed a “hold” rating and set a $17.50 price target (down previously from $17.75) on shares of Huntington Bancshares in a research report on Tuesday, September 18th. Jefferies Financial Group upped their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $16.50 price target on shares of Huntington Bancshares in a research report on Thursday, July 26th. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Huntington Bancshares has a consensus rating of “Hold” and an average price target of $17.25.
HBAN stock traded up $0.21 on Wednesday, hitting $15.56. 8,605,300 shares of the company were exchanged, compared to its average volume of 9,478,845. Huntington Bancshares has a twelve month low of $13.04 and a twelve month high of $16.60. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market capitalization of $16.48 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 0.82 and a beta of 1.35.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 17th were given a $0.14 dividend. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.56 annualized dividend and a dividend yield of 3.60%. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.11. Huntington Bancshares’s dividend payout ratio is presently 57.14%.
In other news, CFO Howell D. Mccullough III sold 68,777 shares of the stock in a transaction on Friday, August 24th. The shares were sold at an average price of $16.17, for a total value of $1,112,124.09. Following the completion of the sale, the chief financial officer now owns 720,413 shares of the company’s stock, valued at $11,649,078.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Richard Remiker sold 5,254 shares of the stock in a transaction on Monday, July 30th. The stock was sold at an average price of $15.55, for a total transaction of $81,699.70. Following the completion of the sale, the executive vice president now directly owns 321,462 shares of the company’s stock, valued at approximately $4,998,734.10. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBAN. IHT Wealth Management LLC grew its holdings in Huntington Bancshares by 164.4% during the 1st quarter. IHT Wealth Management LLC now owns 9,421 shares of the bank’s stock valued at $138,000 after purchasing an additional 5,858 shares in the last quarter. Institutional & Family Asset Management LLC acquired a new stake in Huntington Bancshares during the 1st quarter valued at $140,000. Dupont Capital Management Corp grew its holdings in Huntington Bancshares by 79.3% during the 2nd quarter. Dupont Capital Management Corp now owns 9,657 shares of the bank’s stock valued at $143,000 after purchasing an additional 4,270 shares in the last quarter. GAM Holding AG acquired a new stake in Huntington Bancshares during the 2nd quarter valued at $154,000. Finally, Osborn Williams & Donohoe LLC acquired a new stake in Huntington Bancshares during the 2nd quarter valued at $158,000. 73.79% of the stock is owned by institutional investors and hedge funds.
About Huntington Bancshares
Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company's Consumer and Business Banking segment offers financial products and services, such as checking accounts, savings accounts, money market accounts, certificates of deposit, consumer loans, and small business loans; and investments, mortgages, insurance, interest rate risk protection, and foreign exchange and treasury management services.
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