Huntington Bancshares Inc. (NASDAQ:HBAN) – Investment analysts at Jefferies Group issued their FY2018 earnings estimates for shares of Huntington Bancshares in a research note issued on Friday. Jefferies Group analyst K. Usdin forecasts that the brokerage will earn $0.98 per share for the year. Jefferies Group currently has a “Buy” rating on the stock.
Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, July 21st. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by $0.02. Huntington Bancshares had a net margin of 20.85% and a return on equity of 11.07%. During the same period in the prior year, the firm earned $0.23 earnings per share.
HBAN has been the subject of several other reports. Deutsche Bank AG upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.50 to $11.50 in a report on Wednesday, September 28th. BMO Capital Markets reiterated a “market perform” rating and set a $11.00 price target on shares of Huntington Bancshares in a report on Wednesday, July 6th. Wedbush initiated coverage on Huntington Bancshares in a report on Thursday, October 6th. They set an “outperform” rating and a $12.00 price target for the company. FBR & Co lowered Huntington Bancshares from an “outperform” rating to a “market perform” rating and set a $11.00 price target for the company. in a report on Tuesday. Finally, Robert W. Baird reiterated a “neutral” rating and set a $9.23 price target (down from $10.00) on shares of Huntington Bancshares in a report on Friday, July 22nd. Fifteen analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Huntington Bancshares presently has a consensus rating of “Hold” and a consensus target price of $11.12.
Huntington Bancshares (NASDAQ:HBAN) traded down 0.50% during midday trading on Monday, reaching $9.97. The company’s stock had a trading volume of 6,066,913 shares. The firm has a 50 day moving average price of $9.85 and a 200 day moving average price of $9.69. Huntington Bancshares has a 1-year low of $7.83 and a 1-year high of $11.87. The firm has a market capitalization of $7.97 billion, a PE ratio of 12.78 and a beta of 1.13.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend was Thursday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 35.90%.
In other news, EVP David S. Anderson sold 9,006 shares of the company’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $9.82, for a total transaction of $88,438.92. Following the transaction, the executive vice president now owns 110,233 shares of the company’s stock, valued at $1,082,488.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Nicholas G. Stanutz sold 35,350 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $9.64, for a total value of $340,774.00. Following the transaction, the executive vice president now directly owns 434,650 shares in the company, valued at approximately $4,190,026. The disclosure for this sale can be found here. Insiders own 1.65% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Prospera Financial Services Inc raised its position in shares of Huntington Bancshares by 14.9% in the third quarter. Prospera Financial Services Inc now owns 25,433 shares of the company’s stock valued at $251,000 after buying an additional 3,295 shares during the period. Nisa Investment Advisors LLC raised its position in Huntington Bancshares by 681.4% in the third quarter. Nisa Investment Advisors LLC now owns 241,505 shares of the company’s stock valued at $2,381,000 after buying an additional 210,597 shares during the last quarter. Capstone Asset Management Co. raised its position in Huntington Bancshares by 1.1% in the third quarter. Capstone Asset Management Co. now owns 57,655 shares of the company’s stock valued at $568,000 after buying an additional 610 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Huntington Bancshares during the third quarter valued at $238,000. Finally, Creative Planning raised its position in Huntington Bancshares by 23.9% in the third quarter. Creative Planning now owns 133,558 shares of the company’s stock valued at $1,317,000 after buying an additional 25,764 shares during the last quarter. 75.73% of the stock is currently owned by institutional investors and hedge funds.
About Huntington Bancshares
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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