Huntington Bancshares (NASDAQ:HBAN) Announces Earnings Results

Huntington Bancshares (NASDAQ:HBAN) posted its earnings results on Friday. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02, RTT News reports. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the prior year, the business earned $0.35 EPS.

Huntington Bancshares Stock Performance

NASDAQ HBAN opened at $14.30 on Friday. The stock has a market capitalization of $20.72 billion, a PE ratio of 12.88, a P/E/G ratio of 5.72 and a beta of 1.06. The business has a 50 day simple moving average of $13.34 and a two-hundred day simple moving average of $13.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. Huntington Bancshares has a 1-year low of $9.25 and a 1-year high of $14.65.

Analyst Ratings Changes

A number of research firms have weighed in on HBAN. Jefferies Financial Group lowered their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Stephens reaffirmed an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday, April 22nd. Evercore ISI decreased their price objective on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Finally, UBS Group decreased their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $14.93.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the transaction, the insider now owns 648,904 shares in the company, valued at approximately $8,851,050.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the transaction, the chief financial officer now owns 305,884 shares in the company, valued at approximately $4,178,375.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Helga Houston sold 7,278 shares of Huntington Bancshares stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the transaction, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock worth $2,148,623 in the last quarter. 0.89% of the stock is owned by corporate insiders.

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.