Analysts Expect Huntington Bancshares Incorporated (HBAN) Will Announce Earnings of $0.29 Per Share

Equities analysts expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to announce $0.29 earnings per share for the current quarter, according to Zacks. Seven analysts have made estimates for Huntington Bancshares’ earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.28. Huntington Bancshares reported earnings per share of $0.26 in the same quarter last year, which indicates a positive year over year growth rate of 11.5%. The business is scheduled to announce its next quarterly earnings results on Friday, July 20th.

According to Zacks, analysts expect that Huntington Bancshares will report full-year earnings of $1.21 per share for the current financial year, with EPS estimates ranging from $1.20 to $1.26. For the next fiscal year, analysts expect that the company will report earnings of $1.35 per share, with EPS estimates ranging from $1.30 to $1.43. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Huntington Bancshares.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Tuesday, April 24th. The bank reported $0.28 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.28. Huntington Bancshares had a return on equity of 12.64% and a net margin of 26.97%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the business posted $0.21 EPS. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year.

A number of brokerages recently issued reports on HBAN. BidaskClub cut Huntington Bancshares from a “buy” rating to a “hold” rating in a research note on Saturday, May 26th. Susquehanna Bancshares set a $17.00 price objective on Huntington Bancshares and gave the company a “hold” rating in a research note on Tuesday, April 24th. Nomura decreased their price target on Huntington Bancshares from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Wednesday, April 25th. Zacks Investment Research cut Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Tuesday, February 13th. Finally, ValuEngine cut Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Ten equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $16.98.

Huntington Bancshares traded down $0.03, reaching $15.56, during midday trading on Friday, MarketBeat reports. The stock had a trading volume of 8,090,300 shares, compared to its average volume of 9,442,845. Huntington Bancshares has a 12 month low of $12.14 and a 12 month high of $16.60. The stock has a market capitalization of $16.84 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.06 and a beta of 1.32. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.88 and a current ratio of 0.88.

The company also recently announced a quarterly dividend, which will be paid on Monday, July 2nd. Shareholders of record on Monday, June 18th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 2.83%. The ex-dividend date is Friday, June 15th. Huntington Bancshares’s dividend payout ratio is currently 44.90%.

In other Huntington Bancshares news, EVP Nancy E. Maloney sold 1,958 shares of the company’s stock in a transaction that occurred on Friday, May 4th. The stock was sold at an average price of $14.54, for a total value of $28,469.32. Following the completion of the sale, the executive vice president now owns 79,646 shares of the company’s stock, valued at $1,158,052.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Daniel J. Neumeyer sold 25,178 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $15.13, for a total value of $380,943.14. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,387 shares of company stock valued at $1,774,808. 1.05% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Suntrust Banks Inc. lifted its position in Huntington Bancshares by 6.6% in the first quarter. Suntrust Banks Inc. now owns 88,393 shares of the bank’s stock valued at $1,333,000 after purchasing an additional 5,455 shares during the last quarter. Principal Financial Group Inc. lifted its position in Huntington Bancshares by 3.8% in the first quarter. Principal Financial Group Inc. now owns 1,760,340 shares of the bank’s stock valued at $26,582,000 after purchasing an additional 65,260 shares during the last quarter. CIBC World Markets Inc. lifted its position in Huntington Bancshares by 416.6% in the first quarter. CIBC World Markets Inc. now owns 71,220 shares of the bank’s stock valued at $1,075,000 after purchasing an additional 57,434 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Huntington Bancshares by 27.8% during the first quarter. Moors & Cabot Inc. now owns 17,725 shares of the bank’s stock valued at $268,000 after acquiring an additional 3,853 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its holdings in shares of Huntington Bancshares by 2.8% during the first quarter. Xact Kapitalforvaltning AB now owns 236,301 shares of the bank’s stock valued at $3,568,000 after acquiring an additional 6,525 shares in the last quarter. Hedge funds and other institutional investors own 74.46% of the company’s stock.

Huntington Bancshares Company Profile

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

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