Equities research analysts forecast that Huntington Bancshares Incorporated (NASDAQ:HBAN) will announce $1.15 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven 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 $1.08 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 6.5%. The business is expected to announce its next quarterly earnings results on Tuesday, April 23rd.
According to Zacks, analysts expect that Huntington Bancshares will report full year sales of $4.75 billion for the current financial year, with estimates ranging from $4.72 billion to $4.78 billion. For the next financial year, analysts expect that the firm will report sales of $4.93 billion, with estimates ranging from $4.89 billion to $5.04 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, January 24th. The bank reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.02). Huntington Bancshares had a net margin of 26.43% and a return on equity of 13.93%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the firm earned $0.26 EPS.
A number of equities research analysts have recently issued reports on HBAN shares. ValuEngine lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. BMO Capital Markets dropped their price objective on shares of Huntington Bancshares from $17.00 to $15.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 24th. Raymond James dropped their price objective on shares of Huntington Bancshares from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, October 24th. Wedbush lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $18.00 to $16.00 in a research note on Friday, November 2nd. Finally, Nomura reiterated a “neutral” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, November 13th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $16.54.
In other news, Director Kathleen H. Ransier sold 4,820 shares of the stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $14.53, for a total transaction of $70,034.60. Following the transaction, the director now owns 113,712 shares in the company, valued at approximately $1,652,235.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark E. Thompson sold 18,510 shares of the stock in a transaction on Monday, January 28th. The stock was sold at an average price of $13.49, for a total transaction of $249,699.90. Following the transaction, the executive vice president now owns 667,175 shares in the company, valued at approximately $9,000,190.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,330 shares of company stock worth $1,142,335. Company insiders own 1.05% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Financial Gravity Companies Inc. acquired a new position in shares of Huntington Bancshares during the 4th quarter worth $25,000. JOYN Advisors Inc. increased its stake in shares of Huntington Bancshares by 207.5% during the 4th quarter. JOYN Advisors Inc. now owns 2,079 shares of the bank’s stock worth $25,000 after purchasing an additional 1,403 shares during the last quarter. FTB Advisors Inc. increased its stake in shares of Huntington Bancshares by 1,100.5% during the 4th quarter. FTB Advisors Inc. now owns 2,401 shares of the bank’s stock worth $28,000 after purchasing an additional 2,201 shares during the last quarter. We Are One Seven LLC acquired a new position in shares of Huntington Bancshares during the 4th quarter worth $29,000. Finally, Transamerica Financial Advisors Inc. increased its stake in shares of Huntington Bancshares by 562.0% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 2,721 shares of the bank’s stock worth $33,000 after purchasing an additional 2,310 shares during the last quarter. Institutional investors own 76.20% of the company’s stock.
HBAN stock opened at $13.89 on Thursday. Huntington Bancshares has a 52-week low of $11.12 and a 52-week high of $16.60. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87. The company has a market cap of $14.71 billion, a PE ratio of 11.58, a PEG ratio of 1.12 and a beta of 1.35.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 18th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, March 15th. This represents a $0.56 annualized dividend and a yield of 4.03%. Huntington Bancshares’s dividend payout ratio is presently 46.67%.
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 operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).
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