Huntington Bancshares (NASDAQ:HBAN) Releases Earnings Results, Meets Estimates

Huntington Bancshares (NASDAQ:HBAN – Get Free Report) announced its earnings results on Thursday. The bank reported $0.38 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.38, FiscalAI reports. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.82 billion. Huntington Bancshares had a return on equity of 11.19% and a net margin of 16.64%. During the same period in the previous year, the firm earned $0.41 earnings per share.

Huntington Bancshares Stock Up 0.2%

HBAN opened at $15.76 on Thursday. Huntington Bancshares has a fifty-two week low of $14.82 and a fifty-two week high of $19.45. The business has a 50-day moving average of $16.20 and a 200-day moving average of $16.66. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.92 and a quick ratio of 0.91. The company has a market capitalization of $31.83 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 0.99 and a beta of 0.95.

Insider Activity

In related news, insider Kendall Kowalski sold 27,971 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $17.20, for a total value of $481,101.20. Following the completion of the sale, the insider owned 70,025 shares of the company’s stock, valued at approximately $1,204,430. The trade was a 28.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.67% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on HBAN. TD Cowen initiated coverage on Huntington Bancshares in a research report on Thursday, October 8th. They issued a “buy” rating and a $18.00 price target for the company. Bank of America reissued a “neutral” rating and issued a $18.50 price target (down from $20.00) on shares of Huntington Bancshares in a research note on Monday, July 27th. JPMorgan Chase & Co. cut their price objective on Huntington Bancshares from $19.50 to $17.50 and set an “overweight” rating on the stock in a report on Friday, October 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, August 18th. Finally, Evercore reduced their price objective on shares of Huntington Bancshares from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $19.19.

Get Our Latest Stock Analysis on Huntington Bancshares

About Huntington Bancshares

(Get Free Report)

Huntington Bancshares Incorporated is a regional bank holding company headquartered in Columbus, Ohio. Its principal subsidiary, The Huntington National Bank, provides banking and financial services to consumers, businesses, institutions and government entities.

The company’s offerings include checking and savings accounts, consumer and residential lending, credit cards, auto finance, mortgages, commercial loans, treasury management, investment and wealth management services, insurance, and other financial solutions.

Further Reading

Earnings History for Huntington Bancshares (NASDAQ:HBAN)

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