Huntington Bancshares (NASDAQ:HBAN) Releases Earnings Results, Beats Estimates By $0.03 EPS

Huntington Bancshares (NASDAQ:HBAN) released its quarterly earnings results on Thursday. The bank reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03, Zacks reports. Huntington Bancshares had a net margin of 16.23% and a return on equity of 11.23%.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $13.27 on Thursday. The company has a current ratio of 0.89, a quick ratio of 0.88 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $14.99 and its 200 day moving average price is $16.01. Huntington Bancshares has a 52 week low of $11.92 and a 52 week high of $18.45. The stock has a market cap of $19.38 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.33 and a beta of 0.89.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 18th were given a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date was Tuesday, March 18th. Huntington Bancshares’s dividend payout ratio is currently 50.41%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Truist Financial increased their target price on shares of Huntington Bancshares from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler lowered their target price on Huntington Bancshares from $17.50 to $17.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 21st. Stephens restated an “equal weight” rating and set a $18.50 price target on shares of Huntington Bancshares in a research note on Friday, February 7th. Morgan Stanley lowered their price objective on shares of Huntington Bancshares from $22.00 to $20.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Finally, Baird R W upgraded shares of Huntington Bancshares from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.94.

Insider Activity

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 38,451 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.38, for a total transaction of $552,925.38. Following the sale, the chief financial officer now owns 335,538 shares in the company, valued at approximately $4,825,036.44. This represents a 10.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott D. Kleinman sold 69,088 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $14.67, for a total value of $1,013,520.96. Following the completion of the transaction, the vice president now directly owns 453,129 shares of the company’s stock, valued at approximately $6,647,402.43. This trade represents a 13.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,781 shares of company stock worth $1,631,151 over the last ninety days. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Company Profile

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.