Equities analysts expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to announce $1.07 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Huntington Bancshares’ earnings, with estimates ranging from $1.06 billion to $1.09 billion. Huntington Bancshares posted sales of $776.99 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 37.7%. The business is scheduled to issue its next earnings results on Thursday, July 20th.
On average, analysts expect that Huntington Bancshares will report full year sales of $1.07 billion for the current financial year, with estimates ranging from $4.27 billion to $4.4 billion. For the next fiscal year, analysts forecast that the firm will post sales of $4.57 billion per share, with estimates ranging from $4.47 billion to $4.66 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Wednesday, April 19th. The bank reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by $0.01. Huntington Bancshares had a return on equity of 11.09% and a net margin of 18.11%. The business earned $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the company earned $0.20 EPS. The company’s revenue was up 39.8% on a year-over-year basis.
Several research analysts have issued reports on HBAN shares. Zacks Investment Research cut shares of Huntington Bancshares from a “buy” rating to a “hold” rating in a report on Monday, January 16th. FBR & Co lifted their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Wednesday, January 25th. Sanford C. Bernstein lifted their target price on shares of Huntington Bancshares from $14.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, January 26th. Hilliard Lyons cut shares of Huntington Bancshares from a “buy” rating to a “neutral” rating in a report on Thursday, January 26th. Finally, DA Davidson started coverage on shares of Huntington Bancshares in a report on Thursday, March 23rd. They issued a “buy” rating and a $16.50 target price for the company. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $13.96.
In other Huntington Bancshares news, Director John C. Inglis bought 7,142 shares of the business’s stock in a transaction that occurred on Tuesday, February 28th. The stock was bought at an average cost of $14.06 per share, for a total transaction of $100,416.52. Following the completion of the transaction, the director now owns 7,142 shares of the company’s stock, valued at approximately $100,416.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 3,452 shares of company stock valued at $46,992 over the last three months. 1.65% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in shares of Huntington Bancshares by 10.7% in the fourth quarter. FMR LLC now owns 80,740,836 shares of the bank’s stock valued at $1,067,393,000 after buying an additional 7,795,713 shares during the period. State Street Corp raised its stake in shares of Huntington Bancshares by 7.8% in the fourth quarter. State Street Corp now owns 63,926,011 shares of the bank’s stock valued at $845,097,000 after buying an additional 4,598,441 shares during the period. Boston Partners raised its stake in shares of Huntington Bancshares by 29.5% in the first quarter. Boston Partners now owns 34,218,873 shares of the bank’s stock valued at $458,191,000 after buying an additional 7,804,639 shares during the period. Norges Bank acquired a new stake in shares of Huntington Bancshares during the fourth quarter valued at about $200,168,000. Finally, Northern Trust Corp raised its stake in shares of Huntington Bancshares by 57.8% in the third quarter. Northern Trust Corp now owns 14,109,975 shares of the bank’s stock valued at $139,125,000 after buying an additional 5,166,081 shares during the period. Institutional investors own 70.49% of the company’s stock.
Huntington Bancshares (NASDAQ:HBAN) traded down 0.46% during midday trading on Wednesday, hitting $12.99. 5,661,424 shares of the company were exchanged. The firm has a market capitalization of $14.12 billion, a PE ratio of 19.27 and a beta of 1.24. Huntington Bancshares has a 1-year low of $8.05 and a 1-year high of $14.74. The stock has a 50 day moving average of $13.05 and a 200 day moving average of $12.92.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Monday, June 19th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, June 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.46%. Huntington Bancshares’s payout ratio is 47.06%.
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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