Huntington Bancshares (NASDAQ:HBAN) Issues Earnings Results

Huntington Bancshares (NASDAQ:HBAN) released its earnings results on Friday. The bank reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03, Zacks reports. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period in the prior year, the company posted $0.27 earnings per share.

Huntington Bancshares Stock Up 1.0 %

Shares of Huntington Bancshares stock opened at $17.01 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares has a 52-week low of $12.02 and a 52-week high of $18.44. The stock has a 50-day simple moving average of $17.06 and a 200-day simple moving average of $15.47. The firm has a market cap of $24.71 billion, a price-to-earnings ratio of 16.36, a P/E/G ratio of 2.51 and a beta of 1.07.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 3.64%. Huntington Bancshares’s payout ratio is presently 59.62%.

Insider Buying and Selling

In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total value of $505,362.00. Following the completion of the transaction, the vice president now directly owns 496,076 shares in the company, valued at $8,765,662.92. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,699 shares of company stock worth $757,356. Corporate insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HBAN. Sandler O’Neill reiterated a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Citigroup boosted their target price on shares of Huntington Bancshares from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Thursday, December 12th. The Goldman Sachs Group lifted their price target on shares of Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, DA Davidson increased their price objective on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a “buy” rating in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $17.76.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.