Huntington Bancshares Incorporated (NASDAQ:HBAN) Expected to Announce Earnings of $0.12 Per Share

Wall Street brokerages expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to announce earnings of $0.12 per share for the current quarter, according to Zacks. Five analysts have made estimates for Huntington Bancshares’ earnings. The lowest EPS estimate is ($0.87) and the highest is $0.30. Huntington Bancshares reported earnings of $0.33 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 63.6%. The firm is expected to report its next earnings report before the market opens on Thursday, July 23rd.

On average, analysts expect that Huntington Bancshares will report full-year earnings of $0.43 per share for the current financial year, with EPS estimates ranging from ($0.43) to $0.72. For the next financial year, analysts expect that the company will post earnings of $0.92 per share, with EPS estimates ranging from $0.65 to $1.30. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Huntington Bancshares.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, April 23rd. The bank reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.09). The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Huntington Bancshares had a net margin of 19.65% and a return on equity of 10.40%. The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.32 EPS.

Several analysts recently issued reports on HBAN shares. Nomura reiterated a “hold” rating and set a $7.00 target price on shares of Huntington Bancshares in a research report on Sunday, April 26th. ValuEngine raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, June 5th. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, June 5th. DA Davidson began coverage on shares of Huntington Bancshares in a research report on Monday, March 23rd. They set a “hold” rating and a $8.00 target price for the company. Finally, Raymond James reduced their price target on shares of Huntington Bancshares from $11.50 to $10.00 and set an “outperform” rating on the stock in a report on Monday, April 27th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $10.95.

In other news, EVP Paul G. Heller sold 46,726 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $9.10, for a total transaction of $425,206.60. Following the transaction, the executive vice president now directly owns 532,943 shares of the company’s stock, valued at $4,849,781.30. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark E. Thompson sold 11,464 shares of Huntington Bancshares stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $8.68, for a total transaction of $99,507.52. Following the sale, the executive vice president now directly owns 644,809 shares of the company’s stock, valued at approximately $5,596,942.12. The disclosure for this sale can be found here. Company insiders own 0.70% of the company’s stock.

Several hedge funds have recently modified their holdings of HBAN. Grove Bank & Trust grew its position in shares of Huntington Bancshares by 2.5% during the 4th quarter. Grove Bank & Trust now owns 32,442 shares of the bank’s stock worth $489,000 after buying an additional 783 shares in the last quarter. Azimuth Capital Management LLC lifted its stake in Huntington Bancshares by 5.0% in the fourth quarter. Azimuth Capital Management LLC now owns 25,353 shares of the bank’s stock worth $382,000 after acquiring an additional 1,200 shares during the period. Greenleaf Trust grew its holdings in Huntington Bancshares by 2.5% during the 1st quarter. Greenleaf Trust now owns 55,925 shares of the bank’s stock worth $459,000 after acquiring an additional 1,365 shares in the last quarter. Cetera Advisor Networks LLC increased its position in Huntington Bancshares by 4.3% during the 1st quarter. Cetera Advisor Networks LLC now owns 37,666 shares of the bank’s stock valued at $309,000 after purchasing an additional 1,549 shares during the period. Finally, First Mercantile Trust Co. raised its holdings in shares of Huntington Bancshares by 12.0% in the 1st quarter. First Mercantile Trust Co. now owns 15,791 shares of the bank’s stock valued at $130,000 after purchasing an additional 1,687 shares in the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.

NASDAQ:HBAN opened at $9.04 on Friday. The business’s 50-day simple moving average is $9.26 and its two-hundred day simple moving average is $11.13. Huntington Bancshares has a 52 week low of $6.82 and a 52 week high of $15.63. The stock has a market cap of $9.00 billion, a PE ratio of 9.05, a P/E/G ratio of 4.22 and a beta of 1.51. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.93.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Wednesday, June 17th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 6.64%. The ex-dividend date of this dividend is Tuesday, June 16th. Huntington Bancshares’s payout ratio is currently 47.24%.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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Earnings History and Estimates for Huntington Bancshares (NASDAQ:HBAN)

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