Huntington Bancshares Incorporated (NASDAQ:HBAN) – Stock analysts at Wedbush upped their Q1 2018 earnings per share (EPS) estimates for Huntington Bancshares in a research note issued to investors on Sunday. Wedbush analyst P. Winter now anticipates that the bank will post earnings per share of $0.24 for the quarter, up from their previous estimate of $0.23. Wedbush also issued estimates for Huntington Bancshares’ Q3 2018 earnings at $0.28 EPS.
Several other research analysts have also recently commented on the stock. Deutsche Bank AG restated a “buy” rating on shares of Huntington Bancshares in a research report on Monday, July 3rd. Piper Jaffray Companies restated a “neutral” rating and issued a $14.00 target price (down previously from $14.50) on shares of Huntington Bancshares in a research report on Saturday, April 22nd. BidaskClub cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Tuesday, April 11th. Finally, Keefe, Bruyette & Woods set a $14.00 target price on shares of Huntington Bancshares and gave the stock a “hold” rating in a research report on Monday, April 3rd. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $14.83.
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Shares of Huntington Bancshares (NASDAQ:HBAN) traded up 0.99% during midday trading on Tuesday, reaching $13.32. 11,404,378 shares of the company were exchanged. The stock has a market capitalization of $14.52 billion, a price-to-earnings ratio of 18.45 and a beta of 1.37. Huntington Bancshares has a 52-week low of $9.10 and a 52-week high of $14.74. The company’s 50-day moving average price is $13.30 and its 200 day moving average price is $13.34.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same quarter last year, the firm earned $0.19 earnings per share.
Huntington Bancshares announced that its board has approved a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $308.00 million in shares. This buyback authorization allows the bank to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 18th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s dividend payout ratio is presently 46.38%.
In other Huntington Bancshares news, EVP Andrew J. Harmening bought 15,490 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The stock was acquired at an average cost of $12.92 per share, with a total value of $200,130.80. Following the completion of the purchase, the executive vice president now directly owns 35,543 shares in the company, valued at $459,215.56. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Stephen D. Steinour bought 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 18th. The shares were acquired at an average cost of $12.40 per share, with a total value of $620,000.00. Following the completion of the purchase, the chief executive officer now owns 3,891,831 shares of the company’s stock, valued at $48,258,704.40. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Catawba Capital Management VA acquired a new stake in Huntington Bancshares during the first quarter valued at approximately $293,000. Chevy Chase Trust Holdings Inc. raised its stake in Huntington Bancshares by 1.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 938,891 shares of the bank’s stock valued at $12,572,000 after buying an additional 12,355 shares in the last quarter. First Financial Bank N.A. Trust Division raised its stake 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 stake 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. Finally, Highbridge Capital Management LLC raised its stake 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. 75.51% of the stock is owned by institutional investors and hedge funds.
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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