Brokerages expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to announce $1.16 billion in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Huntington Bancshares’ earnings, with estimates ranging from $1.15 billion to $1.17 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 company is expected to issue its next earnings report 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 fiscal year, analysts expect that the company will report sales of $4.79 billion per share, with estimates ranging from $4.73 billion to $4.92 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Wednesday, July 25th. The bank reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.01. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Huntington Bancshares had a return on equity of 12.93% and a net margin of 27.90%. During the same quarter last year, the business earned $0.26 EPS.
Several research analysts have weighed in on the company. Jefferies Financial Group increased their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, August 8th. BidaskClub upgraded Huntington Bancshares from a “hold” rating to a “buy” rating in a research report on Saturday, August 4th. Zacks Investment Research lowered Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Finally, Piper Jaffray Companies reissued a “buy” rating and set a $16.50 target price on shares of Huntington Bancshares in a report on Thursday, July 26th. Eleven investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $17.05.
HBAN stock opened at $16.31 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.95. The firm has a market cap of $17.90 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 0.89 and a beta of 1.32. Huntington Bancshares has a fifty-two week low of $12.14 and a fifty-two week high of $16.60.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 17th will be issued a dividend of $0.14 per share. This is a positive change from Huntington Bancshares’s previous quarterly dividend of $0.11. This represents a $0.56 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Friday, September 14th. Huntington Bancshares’s dividend payout ratio is 44.90%.
In related news, EVP Richard Remiker sold 5,254 shares of the firm’s stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $15.55, for a total value of $81,699.70. Following the sale, the executive vice president now directly owns 321,462 shares of the company’s stock, valued at $4,998,734.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Howell D. Mccullough III sold 68,777 shares of the firm’s stock in a transaction dated 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 directly owns 720,413 shares in the company, valued at $11,649,078.21. The disclosure for this sale can be found here. Corporate insiders own 1.05% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in HBAN. Wells Fargo & Company MN boosted its stake in Huntington Bancshares by 28.0% in the first quarter. Wells Fargo & Company MN now owns 5,899,778 shares of the bank’s stock valued at $89,087,000 after buying an additional 1,289,364 shares in the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in Huntington Bancshares by 37.0% in the first quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 222,024 shares of the bank’s stock valued at $3,321,000 after buying an additional 59,979 shares in the last quarter. Sentry Investment Management LLC boosted its stake in Huntington Bancshares by 44.2% in the first quarter. Sentry Investment Management LLC now owns 78,212 shares of the bank’s stock valued at $1,181,000 after buying an additional 23,970 shares in the last quarter. Twin Capital Management Inc. acquired a new stake in Huntington Bancshares in the first quarter valued at about $483,000. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in Huntington Bancshares by 48.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 34,649 shares of the bank’s stock valued at $523,000 after buying an additional 11,280 shares in the last quarter. 73.81% of the stock is currently owned by institutional investors and hedge funds.
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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