Jefferies Financial Group Comments on Huntington Bancshares Incorporated’s FY2019 Earnings (HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at Jefferies Financial Group raised their FY2019 earnings per share estimates for shares of Huntington Bancshares in a research note issued to investors on Monday, October 8th. Jefferies Financial Group analyst K. Usdin now expects that the bank will post earnings per share of $1.39 for the year, up from their prior estimate of $1.37. Jefferies Financial Group has a “Buy” rating and a $18.00 price objective on the stock. Jefferies Financial Group also issued estimates for Huntington Bancshares’ FY2020 earnings at $1.52 EPS.

A number of other equities analysts have also recently issued reports on the stock. BidaskClub upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Monday. Zacks Investment Research upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a research report on Thursday, October 4th. Morgan Stanley restated a “hold” rating and issued a $17.50 price objective (down previously from $17.75) on shares of Huntington Bancshares in a research report on Tuesday, September 18th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $16.50 price objective 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 company’s stock. Huntington Bancshares currently has a consensus rating of “Hold” and an average price target of $17.25.

HBAN stock opened at $15.56 on Tuesday. Huntington Bancshares has a 12-month low of $13.04 and a 12-month high of $16.60. The stock has a market capitalization of $16.48 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 0.82 and a beta of 1.35. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.90 and a current ratio of 0.90.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Wednesday, July 25th. The bank reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.01. Huntington Bancshares had a net margin of 27.90% and a return on equity of 12.93%. The company had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. During the same quarter last year, the company earned $0.26 EPS.

The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 17th were paid a dividend of $0.14 per share. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, September 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.60%. Huntington Bancshares’s payout ratio is presently 57.14%.

In other news, CFO Howell D. Mccullough III sold 68,777 shares of Huntington Bancshares stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $16.17, for a total transaction of $1,112,124.09. Following the sale, the chief financial officer now owns 720,413 shares of the company’s stock, valued at approximately $11,649,078.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Richard Remiker sold 5,254 shares of Huntington Bancshares stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $15.55, for a total transaction of $81,699.70. Following the sale, the executive vice president now directly owns 321,462 shares in the company, valued at approximately $4,998,734.10. The disclosure for this sale can be found here. Insiders own 1.05% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BB&T Securities LLC boosted its stake in Huntington Bancshares by 17.1% during the second quarter. BB&T Securities LLC now owns 503,620 shares of the bank’s stock worth $7,432,000 after acquiring an additional 73,711 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Huntington Bancshares by 1.5% during the second quarter. PNC Financial Services Group Inc. now owns 3,328,824 shares of the bank’s stock worth $49,134,000 after acquiring an additional 50,318 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Huntington Bancshares by 3.0% during the second quarter. Dimensional Fund Advisors LP now owns 12,392,637 shares of the bank’s stock worth $182,931,000 after acquiring an additional 363,049 shares in the last quarter. Cadence Capital Management LLC boosted its stake in Huntington Bancshares by 27.7% during the second quarter. Cadence Capital Management LLC now owns 161,551 shares of the bank’s stock worth $2,384,000 after acquiring an additional 35,045 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Huntington Bancshares by 5.3% during the second quarter. Victory Capital Management Inc. now owns 463,579 shares of the bank’s stock worth $6,842,000 after acquiring an additional 23,220 shares in the last quarter. 73.79% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also: Intrinsic Value

Earnings History and Estimates for Huntington Bancshares (NASDAQ:HBAN)

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