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

Huntington Bancshares (NASDAQ:HBAN) issued 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 return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the previous year, the company posted $0.27 EPS.

Huntington Bancshares Stock Performance

NASDAQ:HBAN opened at $17.01 on Friday. The business’s fifty day moving average price is $17.06 and its 200 day moving average price is $15.45. The firm has a market capitalization of $24.71 billion, a PE ratio of 16.36, a price-to-earnings-growth ratio of 2.51 and a beta of 1.07. Huntington Bancshares has a 12 month low of $12.02 and a 12 month high of $18.44. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 18th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.64%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 59.62%.

Insiders Place Their Bets

In other news, CFO Zachary Jacob Wasserman sold 8,644 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total transaction of $152,393.72. Following the completion of the sale, the chief financial officer now owns 259,943 shares in the company, valued at approximately $4,582,795.09. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 of the company’s stock, valued at approximately $8,615,217.06. The trade was a 1.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Evercore ISI boosted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Citigroup boosted their target price on Huntington Bancshares from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Keefe, Bruyette & Woods upped their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Barclays upped their price objective on Huntington Bancshares from $17.00 to $19.00 and gave the company an “equal weight” rating in a report on Monday, January 6th. Finally, Piper Sandler upped their price objective on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Moderate Buy” and a consensus 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.