$1.64 billion in sales expected for Huntington Bancshares Incorporated (NASDAQ:HBAN) this quarter
Analysts expect Huntington Bancshares Incorporated (NASDAQ:HBAN – Get a rating) will report sales of $1.64 billion for the current fiscal quarter, according to Zacks. Five analysts provided earnings estimates for Huntington Bancshares. The highest sales estimate is $1.65 billion and the lowest is $1.62 billion. Huntington Bancshares reported sales of $1.37 billion in the same quarter last year, suggesting a positive growth rate of 19.7% year-over-year. The company is expected to release its next earnings report on Thursday, April 28.
According to Zacks, analysts expect Huntington Bancshares to report annual sales of $6.74 billion for the current year, with estimates ranging from $6.68 billion to $6.79 billion. For the next fiscal year, analysts expect the company to post sales of $7.15 billion, with estimates ranging from $7.09 billion to $7.22 billion. Zacks sales calculations are an average average based on a survey of analysts who cover Huntington Bancshares.
Huntington Bancshares (NASDAQ:HBAN – Get a rating) last released its quarterly results on Thursday, January 20. The bank reported EPS of $0.26 for the quarter, missing Thomson Reuters consensus estimate of $0.37 per ($0.11). Huntington Bancshares had a net margin of 30.05% and a return on equity of 13.42%. In the same quarter a year earlier, the company posted earnings per share of $0.27.
Several equity research analysts have recently commented on HBAN shares. Barclays downgraded shares of Huntington Bancshares from a “weighted” rating to an “underweight” rating and set a price target of $17.00 for the company. in a research report on Monday, January 3. Raymond James cut his price target on shares of Huntington Bancshares from $20.00 to $19.00 and set a “Strong Buy” rating for the company in a Monday, January 24 research report. UBS Group took over coverage of Huntington Bancshares shares in a research report on Wednesday, January 12. They issued a “buy” rating and a target price of $21.00 for the company. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Huntington Bancshares in a Friday, Dec. 17 research report. Finally, Morgan Stanley cut its price target on shares of Huntington Bancshares from $19.00 to $18.00 and set an “equal weight” rating for the company in a research report Monday, Jan. 24. One research analyst rated the stock with a sell rating, six issued a hold rating, two issued a buy rating and one gave the company’s stock a strong buy rating. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Hold” and a consensus price target of $18.07.
In other news, Director Kenneth J. Phelan purchased 6,684 shares in a trade that took place on Monday, February 7. The shares were acquired at an average cost of $15.83 per share, for a total transaction of $105,807.72. The transaction was disclosed in an SEC filing, available at this hyperlink. Additionally, General Counsel Jana J. Litsey sold 6,000 shares of the company in a transaction on Tuesday, January 18. The stock was sold at an average price of $17.75, for a total transaction of $106,500.00. Disclosure of this sale can be found here. Insiders sold a total of 32,595 shares of the company worth $568,218 during the last quarter. 1.04% of the shares are currently held by insiders of the company.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Tortoise Investment Management LLC increased its position in Huntington Bancshares by 433.3% in Q4. Tortoise Investment Management LLC now owns 1,600 shares of the bank worth $25,000 after buying an additional 1,300 shares in the last quarter. Avondale Wealth Management acquired a new stake in Huntington Bancshares in Q4 worth $26,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Huntington Bancshares in Q4 worth $27,000. Larson Financial Group LLC acquired a new stake in Huntington Bancshares in Q4 worth $31,000. Finally, Rockbridge Investment Management LCC increased its position in shares of Huntington Bancshares by 2,000.0% during the 4th quarter. Rockbridge Investment Management LCC now owns 2,100 shares of the bank valued at $32,000 after acquiring 2,000 more shares last quarter. Institutional investors hold 78.27% of the company’s shares.
NASDAQ:HBAN shares opened at $15.08 on Friday. The company has a debt ratio of 0.41, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market capitalization of $21.69 billion, a PE ratio of 11.09, a growth price-earnings ratio of 0.47 and a beta of 1.21. Huntington Bancshares has a 52-week low of $13.01 and a 52-week high of $17.79. The company has a 50-day simple moving average of $15.95 and a 200-day simple moving average of $15.70.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 1. Investors of record on Friday, March 18 will receive a dividend of $0.155. The ex-dividend date is Thursday, March 17. This represents a dividend of $0.62 on an annualized basis and a yield of 4.11%. Huntington Bancshares’ payout ratio is currently 45.59%.
Huntington Bancshares Company Profile (Get a rating)
Huntington Bancshares, Inc operates as a bank holding company. It provides commercial and consumer banking, mortgage banking, automobile financing, recreational and marine vehicle financing, equipment leasing, investment management, trust services, brokerage services, insurance programs and other financial products and services.
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