Huntington Bancshares Incorporated (NASDAQ:HBAN) is scheduled to announce its earnings results before the market opens on Wednesday, October 25th. Analysts expect the company to announce earnings of $0.25 per share for the quarter.
Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same period in the previous year, the company earned $0.19 earnings per share. On average, analysts expect Huntington Bancshares to post $0.97 EPS for the current fiscal year and $1.08 EPS for the next fiscal year.
Shares of Huntington Bancshares Incorporated (HBAN) opened at 13.81 on Wednesday. The stock’s 50 day moving average is $13.24 and its 200-day moving average is $13.11. The stock has a market capitalization of $15.05 billion, a price-to-earnings ratio of 19.13 and a beta of 1.38. Huntington Bancshares Incorporated has a one year low of $9.65 and a one year high of $14.74.
Huntington Bancshares announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that permits the company to repurchase $308.00 million in outstanding shares. This repurchase authorization permits the bank to repurchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 18th were issued a $0.08 dividend. The ex-dividend date of this dividend was Friday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.32%. Huntington Bancshares’s payout ratio is 46.38%.
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In other news, EVP Nicholas G. Stanutz sold 16,000 shares of Huntington Bancshares stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $12.71, for a total value of $203,360.00. Following the sale, the executive vice president now owns 447,722 shares of the company’s stock, valued at $5,690,546.62. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard W. Neu bought 2,450 shares of the stock in a transaction dated Friday, July 28th. The stock was purchased at an average cost of $13.10 per share, for a total transaction of $32,095.00. Following the acquisition, the director now owns 184,596 shares of the company’s stock, valued at $2,418,207.60. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.
Several equities research analysts recently commented on HBAN shares. Piper Jaffray Companies reiterated a “buy” rating and set a $15.50 price target on shares of Huntington Bancshares in a research note on Tuesday. Keefe, Bruyette & Woods set a $14.00 price target on shares of Huntington Bancshares and gave the stock a “hold” rating in a research note on Friday, August 11th. BidaskClub lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $16.00 price target on shares of Huntington Bancshares in a research note on Thursday, July 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $14.25 price target (up from $13.75) on shares of Huntington Bancshares in a research note on Friday, July 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $15.06.
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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