According to Zacks, “Huntington’s estimates have been stable lately ahead of the company’s third-quarter 2016 earnings release. The company remains well poised for organic growth driven by consistent growth in loan and deposit balances. Its robust liquidity position aids in undertaking acquisitions,. Notably, management expects the acquisition of FirstMerit Corp. which was completed in August to be accretive to Huntington’s earnings next year. Additionally, improvement in credit metrics should enhance its business performance. However, the low rate environment has taken a toll on the bank’s net interest margin (NIM) which will continue to remain under pressure if there is no rise in interest rates. Also, rising costs continue to hurt bottom-line growth. Moreover, the stringent regulations across the finance sector limit the company’s business opportunities.”
A number of other equities research analysts also recently commented on HBAN. Nomura reiterated a hold rating on shares of Huntington Bancshares in a research report on Saturday, July 9th. Barclays PLC reiterated a hold rating on shares of Huntington Bancshares in a research report on Saturday, July 9th. JPMorgan Chase & Co. reiterated a hold rating and issued a $10.50 target price on shares of Huntington Bancshares in a research report on Thursday, June 9th. Deutsche Bank AG reiterated a hold rating and issued a $10.50 target price on shares of Huntington Bancshares in a research report on Monday, June 27th. Finally, FBR & Co upgraded Huntington Bancshares from a market perform rating to an outperform rating and set a $11.00 target price on the stock in a research report on Monday, July 11th. Fourteen research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $11.12.
Huntington Bancshares (NASDAQ:HBAN) opened at 10.17 on Tuesday. The stock has a market cap of $8.13 billion, a PE ratio of 13.04 and a beta of 1.13. The stock’s 50 day moving average price is $9.83 and its 200-day moving average price is $9.68. Huntington Bancshares has a 12 month low of $7.83 and a 12 month high of $11.87.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate 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 previous year, the company earned $0.23 earnings per share. Analysts anticipate that Huntington Bancshares will post $0.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $0.28 dividend on an annualized basis and a yield of 2.75%. Huntington Bancshares’s dividend payout ratio is currently 35.90%.
In other Huntington Bancshares news, EVP Nicholas G. Stanutz sold 35,350 shares of the company’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $9.64, for a total transaction of $340,774.00. Following the completion of the sale, the executive vice president now owns 434,650 shares in the company, valued at $4,190,026. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $88,438.92. Following the sale, the executive vice president now owns 110,233 shares of the company’s stock, valued at approximately $1,082,488.06. The disclosure for this sale can be found here. Company insiders own 1.65% of the company’s stock.
A number of hedge funds have recently bought and sold shares of HBAN. Brown Advisory Securities LLC raised its stake in Huntington Bancshares by 2.1% in the second quarter. Brown Advisory Securities LLC now owns 11,106 shares of the company’s stock worth $101,000 after buying an additional 229 shares in the last quarter. Aspiriant LLC bought a new stake in Huntington Bancshares during the second quarter worth $102,000. Aspen Investment Management Inc bought a new stake in Huntington Bancshares during the second quarter worth $102,000. Fishman Jay A Ltd. MI raised its stake in Huntington Bancshares by 8.3% in the second quarter. Fishman Jay A Ltd. MI now owns 13,000 shares of the company’s stock worth $116,000 after buying an additional 1,000 shares in the last quarter. Finally, Tredje AP fonden bought a new stake in Huntington Bancshares during the second quarter worth $118,000. Institutional investors own 75.73% of the company’s stock.
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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