Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at FBR & Co increased their FY2017 earnings per share (EPS) estimates for Huntington Bancshares in a research report issued on Monday. FBR & Co analyst S. Moss now anticipates that the bank will post earnings per share of $0.97 for the year, up from their prior forecast of $0.94. FBR & Co currently has a “Mkt Perform” rating and a $14.00 target price on the stock.
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. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $0.19 EPS.
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A number of other brokerages have also issued reports on HBAN. BidaskClub raised shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Deutsche Bank AG reissued a “buy” rating on shares of Huntington Bancshares in a report on Monday, July 3rd. Instinet reissued a “buy” rating and issued a $16.00 price objective (up previously from $15.00) on shares of Huntington Bancshares in a report on Wednesday, July 12th. Morgan Stanley reissued an “equal weight” rating and issued a $14.25 price objective (up previously from $13.75) on shares of Huntington Bancshares in a report on Friday, July 7th. Finally, Keefe, Bruyette & Woods set a $14.00 price objective on shares of Huntington Bancshares and gave the company a “hold” rating in a report on Monday, April 3rd. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $14.83.
Shares of Huntington Bancshares (NASDAQ HBAN) opened at 13.465 on Tuesday. Huntington Bancshares has a one year low of $9.10 and a one year high of $14.74. The company has a market cap of $14.68 billion, a price-to-earnings ratio of 18.650 and a beta of 1.37. The company’s 50-day moving average is $13.30 and its 200-day moving average is $13.34.
Huntington Bancshares announced that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to buyback $308.00 million in outstanding shares. This buyback authorization permits the bank to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 18th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, September 15th. This represents a $0.32 annualized dividend and a dividend yield of 2.43%. Huntington Bancshares’s dividend payout ratio is presently 46.38%.
In other Huntington Bancshares news, EVP Andrew J. Harmening purchased 15,490 shares of Huntington Bancshares stock in a transaction dated Monday, May 15th. The shares were acquired at an average price of $12.92 per share, with a total value of $200,130.80. Following the completion of the transaction, the executive vice president now owns 35,543 shares of the company’s stock, valued at $459,215.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Paul G. Heller sold 35,720 shares of the stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $12.93, for a total transaction of $461,859.60. Following the sale, the executive vice president now directly owns 443,883 shares in the company, valued at approximately $5,739,407.19. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 3.8% in the first quarter. Vanguard Group Inc. now owns 107,431,420 shares of the bank’s stock valued at $1,438,506,000 after buying an additional 3,937,628 shares in the last quarter. FMR LLC raised its stake in Huntington Bancshares by 21.4% in the first quarter. FMR LLC now owns 98,004,607 shares of the bank’s stock worth $1,312,281,000 after buying an additional 17,263,771 shares during the last quarter. BlackRock Inc. raised its stake in Huntington Bancshares by 2,879.7% in the first quarter. BlackRock Inc. now owns 68,761,543 shares of the bank’s stock worth $920,719,000 after buying an additional 66,453,890 shares during the last quarter. Boston Partners raised its stake in Huntington Bancshares by 29.5% in the first quarter. Boston Partners now owns 34,218,873 shares of the bank’s stock worth $458,191,000 after buying an additional 7,804,639 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Huntington Bancshares by 6.5% in the first quarter. Wellington Management Group LLP now owns 18,405,607 shares of the bank’s stock worth $246,451,000 after buying an additional 1,121,927 shares during the last quarter. 75.51% of the stock is currently owned by institutional investors and hedge funds.
About Huntington Bancshares
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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