Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at FBR & Co raised their FY2017 earnings per share (EPS) estimates for Huntington Bancshares in a research note issued to investors on Thursday. FBR & Co analyst B. Ramsey now expects that the bank will post earnings of $0.94 per share for the year, up from their previous forecast of $0.93. FBR & Co currently has a “Mkt Perform” rating and a $14.00 price target on the stock.
A number of other research firms also recently weighed in on HBAN. Deutsche Bank AG reiterated a “buy” rating on shares of Huntington Bancshares in a research note on Monday. Keefe, Bruyette & Woods set a $14.00 price target on shares of Huntington Bancshares and gave the stock a “hold” rating in a research note on Saturday, June 24th. BidaskClub upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. BMO Capital Markets reiterated a “buy” rating and set a $16.00 price target on shares of Huntington Bancshares in a research note on Friday, June 9th. Finally, Morgan Stanley reduced their target price on shares of Huntington Bancshares from $14.00 to $13.75 and set an “equal weight” rating on the stock in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. Huntington Bancshares presently has an average rating of “Hold” and a consensus target price of $14.09.
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Huntington Bancshares (HBAN) opened at 13.75 on Monday. Huntington Bancshares has a 52 week low of $8.23 and a 52 week high of $14.74. The stock has a 50 day moving average of $12.90 and a 200 day moving average of $13.29. The stock has a market capitalization of $14.95 billion, a P/E ratio of 20.40 and a beta of 1.37.
Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Wednesday, April 19th. The bank reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by $0.01. The firm had revenue of $1.05 billion during 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%. Huntington Bancshares’s revenue for the quarter was up 39.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.20 earnings per share.
Hedge funds have recently made changes to their positions in the stock. National Pension Service acquired a new stake in shares of Huntington Bancshares during the first quarter worth $13,279,000. Suntrust Banks Inc. increased its stake in shares of Huntington Bancshares by 101.8% in the first quarter. Suntrust Banks Inc. now owns 84,466 shares of the bank’s stock worth $1,130,000 after buying an additional 42,612 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Huntington Bancshares by 33.7% in the first quarter. Canada Pension Plan Investment Board now owns 2,182,634 shares of the bank’s stock worth $29,225,000 after buying an additional 549,800 shares during the last quarter. AT Bancorp acquired a new stake in shares of Huntington Bancshares during the first quarter worth $1,243,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Huntington Bancshares by 3.7% in the first quarter. Daiwa Securities Group Inc. now owns 41,150 shares of the bank’s stock worth $551,000 after buying an additional 1,454 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.
In other Huntington Bancshares news, CEO Stephen D. Steinour acquired 50,000 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $12.40 per share, with a total value of $620,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,891,831 shares of the company’s stock, valued at approximately $48,258,704.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrew J. Harmening acquired 15,490 shares of Huntington Bancshares stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average cost of $12.92 per share, for a total transaction of $200,130.80. Following the completion of the purchase, the executive vice president now directly owns 35,543 shares of the company’s stock, valued at $459,215.56. The disclosure for this purchase can be found here. Company 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. This represents a $0.32 annualized dividend and a yield of 2.33%. The ex-dividend date was Thursday, June 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 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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