Zacks: Brokerages Anticipate Huntington Bancshares Incorporated (HBAN) to Post $0.31 EPS

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Brokerages expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to announce earnings per share (EPS) of $0.31 for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Huntington Bancshares’ earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.35. Huntington Bancshares reported earnings per share of $0.26 in the same quarter last year, which suggests a positive year over year growth rate of 19.2%. The business is expected to announce its next earnings report on Tuesday, January 22nd.

On average, analysts expect that Huntington Bancshares will report full-year earnings of $1.21 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.25. For the next fiscal year, analysts expect that the firm will post earnings of $1.38 per share, with EPS estimates ranging from $1.32 to $1.43. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Huntington Bancshares.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. Huntington Bancshares had a return on equity of 13.73% and a net margin of 29.13%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $0.25 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis.

HBAN has been the topic of several recent analyst reports. BidaskClub cut Huntington Bancshares from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Tuesday, September 25th. Morgan Stanley reaffirmed a “hold” rating and set a $17.50 price objective (down from $17.75) on shares of Huntington Bancshares in a research report on Tuesday, September 18th. Vining Sparks reaffirmed a “buy” rating and set a $19.00 price objective on shares of Huntington Bancshares in a research report on Tuesday, October 9th. Finally, Raymond James increased their price objective on Huntington Bancshares from $15.50 to $16.00 and gave the company an “outperform” rating in a research report on Friday, November 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $16.92.

In other news, Director Richard W. Neu bought 6,750 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were acquired at an average cost of $13.88 per share, with a total value of $93,690.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen D. Steinour bought 17,493 shares of the company’s stock in a transaction on Thursday, October 25th. The stock was purchased at an average cost of $13.48 per share, for a total transaction of $235,805.64. Following the completion of the transaction, the chief executive officer now directly owns 4,768,399 shares of the company’s stock, valued at approximately $64,278,018.52. The disclosure for this purchase can be found here. Company insiders own 1.05% of the company’s stock.

Large investors have recently made changes to their positions in the business. Columbia Asset Management purchased a new position in Huntington Bancshares in the third quarter worth about $103,000. NuWave Investment Management LLC boosted its position in Huntington Bancshares by 5,991.8% in the third quarter. NuWave Investment Management LLC now owns 8,894 shares of the bank’s stock worth $133,000 after purchasing an additional 8,748 shares during the last quarter. Dupont Capital Management Corp boosted its position in Huntington Bancshares by 79.3% in the second quarter. Dupont Capital Management Corp now owns 9,657 shares of the bank’s stock worth $143,000 after purchasing an additional 4,270 shares during the last quarter. GAM Holding AG purchased a new position in shares of Huntington Bancshares during the 2nd quarter valued at about $154,000. Finally, Donaldson Capital Management LLC purchased a new position in shares of Huntington Bancshares during the 3rd quarter valued at about $172,000. 76.88% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:HBAN opened at $13.42 on Wednesday. Huntington Bancshares has a 1-year low of $13.13 and a 1-year high of $16.60. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.96. The firm has a market cap of $14.47 billion, a PE ratio of 13.69, a P/E/G ratio of 0.77 and a beta of 1.26.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 18th will be given a $0.14 dividend. The ex-dividend date of this dividend is Monday, December 17th. This represents a $0.56 annualized dividend and a yield of 4.17%. Huntington Bancshares’s payout ratio is 57.14%.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as a holding company for The Huntington National Bank that provides commercial, small business, consumer, and mortgage banking services. The company operates through four business segments: Consumer and Business Banking, Commercial Banking, Vehicle Finance, and Regional Banking and The Huntington Private Client Group (RBHPCG).

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