Huntington Bancshares Incorporated (NASDAQ:HBAN) – Analysts at Jefferies Group decreased their FY2017 earnings estimates for Huntington Bancshares in a research note issued to investors on Wednesday. Jefferies Group analyst K. Usdin now forecasts that the bank will earn $0.96 per share for the year, down from their previous estimate of $0.97. Jefferies Group has a “Buy” rating and a $16.00 price objective on the stock.
Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods set a $14.00 price objective on shares of Huntington Bancshares and gave the company a “hold” rating in a research report on Saturday, June 24th. Morgan Stanley reissued an “equal weight” rating and issued a $14.25 price objective (up from $13.75) on shares of Huntington Bancshares in a research report on Friday. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research report on Friday, June 9th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $14.12.
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Huntington Bancshares (NASDAQ HBAN) opened at 13.69 on Friday. The company has a market cap of $14.88 billion, a P/E ratio of 20.31 and a beta of 1.37. The stock’s 50 day moving average is $12.90 and its 200 day moving average is $13.29. Huntington Bancshares has a 12-month low of $8.23 and a 12-month high of $14.74.
Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Wednesday, April 19th. The bank reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by $0.01. Huntington Bancshares had a return on equity of 11.07% and a net margin of 17.54%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 39.8% compared to the same quarter last year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Shareholders of record on Monday, June 19th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, June 15th. Huntington Bancshares’s dividend payout ratio is currently 49.23%.
In other news, CEO Stephen D. Steinour bought 50,000 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were purchased at an average cost of $12.40 per share, with a total value of $620,000.00. Following the acquisition, the chief executive officer now directly owns 3,891,831 shares in the company, valued at $48,258,704.40. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Paul G. Heller sold 35,720 shares of the firm’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $12.93, for a total transaction of $461,859.60. Following the completion of the transaction, the executive vice president now directly owns 443,883 shares in the company, valued at $5,739,407.19. The disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. First Financial Bank N.A. Trust Division raised its position in Huntington Bancshares by 2.4% in the first quarter. First Financial Bank N.A. Trust Division now owns 27,695 shares of the bank’s stock valued at $370,000 after buying an additional 638 shares in the last quarter. Macquarie Group Ltd. raised its position in Huntington Bancshares by 285.6% in the fourth quarter. Macquarie Group Ltd. now owns 910,577 shares of the bank’s stock valued at $12,038,000 after buying an additional 674,424 shares in the last quarter. Highbridge Capital Management LLC raised its position in Huntington Bancshares by 69.1% in the fourth quarter. Highbridge Capital Management LLC now owns 613,721 shares of the bank’s stock valued at $8,113,000 after buying an additional 250,887 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Huntington Bancshares during the fourth quarter valued at approximately $464,000. Finally, Kentucky Retirement Systems purchased a new position in Huntington Bancshares during the fourth quarter valued at approximately $1,041,000. 75.71% of the stock is currently owned by hedge funds and other institutional investors.
Huntington Bancshares Company Profile
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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