Huntington Bancshares Incorporated (NASDAQ:HBAN) – Wedbush lowered their Q2 2020 earnings estimates for Huntington Bancshares in a research note issued on Monday, June 29th. Wedbush analyst P. Winter now anticipates that the bank will post earnings per share of $0.06 for the quarter, down from their prior forecast of $0.08. Wedbush also issued estimates for Huntington Bancshares’ Q3 2020 earnings at $0.13 EPS, FY2020 earnings at $0.41 EPS, Q1 2021 earnings at $0.21 EPS and Q2 2021 earnings at $0.22 EPS.
A number of other equities research analysts have also recently commented on the company. Robert W. Baird raised Huntington Bancshares from a “neutral” rating to an “outperform” rating and set a $15.00 target price on the stock in a research note on Monday, March 9th. ValuEngine raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday, June 5th. Nomura Securities cut their target price on Huntington Bancshares from $14.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Raymond James cut their target price on Huntington Bancshares from $11.50 to $10.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Finally, Nomura reissued a “hold” rating and issued a $7.00 target price on shares of Huntington Bancshares in a research note on Sunday, April 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company’s stock. Huntington Bancshares presently has a consensus rating of “Hold” and a consensus price target of $10.95.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.09). Huntington Bancshares had a return on equity of 10.40% and a net margin of 19.65%. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the previous year, the company earned $0.32 earnings per share. Huntington Bancshares’s revenue for the quarter was up .8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Wednesday, June 17th will be given 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 dividend payout ratio (DPR) is presently 47.24%.
In other Huntington Bancshares news, EVP Paul G. Heller sold 46,726 shares of Huntington Bancshares stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $9.10, for a total transaction of $425,206.60. Following the completion of the sale, the executive vice president now directly owns 532,943 shares of the company’s stock, valued at approximately $4,849,781.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark E. Thompson sold 11,464 shares of Huntington Bancshares stock in a transaction on Monday, April 27th. The shares were sold at an average price of $8.68, for a total value of $99,507.52. Following the sale, the executive vice president now directly owns 644,809 shares of the company’s stock, valued at $5,596,942.12. The disclosure for this sale can be found here. Insiders own 0.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of HBAN. Norges Bank acquired a new position in shares of Huntington Bancshares in the 4th quarter valued at about $206,248,000. JPMorgan Chase & Co. lifted its holdings in shares of Huntington Bancshares by 22.4% in the 1st quarter. JPMorgan Chase & Co. now owns 43,892,545 shares of the bank’s stock valued at $360,358,000 after buying an additional 8,020,890 shares during the period. Prudential PLC lifted its holdings in shares of Huntington Bancshares by 129.5% in the 1st quarter. Prudential PLC now owns 9,461,800 shares of the bank’s stock valued at $77,681,000 after buying an additional 5,338,247 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Huntington Bancshares by 624.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,745,000 shares of the bank’s stock valued at $22,536,000 after buying an additional 2,366,000 shares during the period. Finally, Advisory Research Inc. lifted its holdings in shares of Huntington Bancshares by 1,477.7% in the 4th quarter. Advisory Research Inc. now owns 2,300,496 shares of the bank’s stock valued at $34,691,000 after buying an additional 2,154,683 shares during the period. 73.97% of the stock is owned by institutional investors and hedge funds.
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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