Huntington Bancshares Incorporated (HBAN) Expected to Post Quarterly Sales of $1.10 Billion

Analysts expect Huntington Bancshares Incorporated (NASDAQ:HBAN) to report sales of $1.10 billion for the current quarter, Zacks reports. Six analysts have made estimates for Huntington Bancshares’ earnings, with the highest sales estimate coming in at $1.11 billion and the lowest estimate coming in at $1.08 billion. Huntington Bancshares posted sales of $1.04 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The business is scheduled to issue its next quarterly earnings results on Wednesday, April 18th.

According to Zacks, analysts expect that Huntington Bancshares will report full-year sales of $1.10 billion for the current fiscal year, with estimates ranging from $4.57 billion to $4.61 billion. For the next financial year, analysts anticipate that the business will post sales of $4.78 billion per share, with estimates ranging from $4.61 billion to $4.88 billion. Zacks’ sales 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 data on Tuesday, January 23rd. The bank reported $0.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Huntington Bancshares had a return on equity of 12.12% and a net margin of 25.02%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.10 billion. During the same quarter in the previous year, the firm earned $0.18 earnings per share.

Several research analysts have recently commented on HBAN shares. Morgan Stanley boosted their price objective on Huntington Bancshares from $14.50 to $16.50 and gave the stock an “equal weight” rating in a report on Wednesday, December 13th. BidaskClub raised Huntington Bancshares from a “hold” rating to a “buy” rating in a report on Friday, December 22nd. Barclays boosted their price objective on Huntington Bancshares from $14.00 to $17.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Nomura boosted their price objective on Huntington Bancshares from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, October 26th. Finally, Vining Sparks reaffirmed a “buy” rating and issued a $19.00 target price on shares of Huntington Bancshares in a research note on Monday, January 8th. Eleven analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $16.75.

Shares of Huntington Bancshares (NASDAQ HBAN) traded down $0.54 during midday trading on Monday, hitting $15.10. The stock had a trading volume of 18,204,679 shares, compared to its average volume of 11,490,000. Huntington Bancshares has a 52 week low of $12.14 and a 52 week high of $16.53. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.94. The stock has a market capitalization of $16,320.00, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 1.18 and a beta of 1.35.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 19th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Friday, March 16th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 32.00%.

Several large investors have recently added to or reduced their stakes in the company. MUFG Americas Holdings Corp boosted its stake in shares of Huntington Bancshares by 44.2% during the fourth quarter. MUFG Americas Holdings Corp now owns 42,409 shares of the bank’s stock valued at $617,000 after purchasing an additional 13,001 shares during the period. Advisory Services Network LLC raised its holdings in shares of Huntington Bancshares by 5,524.1% during the fourth quarter. Advisory Services Network LLC now owns 19,122 shares of the bank’s stock valued at $278,000 after acquiring an additional 18,782 shares in the last quarter. Signition LP bought a new position in shares of Huntington Bancshares during the fourth quarter valued at approximately $171,000. Toronto Dominion Bank raised its holdings in shares of Huntington Bancshares by 12.8% during the fourth quarter. Toronto Dominion Bank now owns 466,158 shares of the bank’s stock valued at $6,786,000 after acquiring an additional 52,812 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Huntington Bancshares by 4.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 14,756,634 shares of the bank’s stock valued at $214,857,000 after acquiring an additional 641,856 shares in the last quarter. 74.36% of the stock is owned by hedge funds and other institutional investors.

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Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (Huntington) is a bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company provides commercial and consumer banking services, mortgage banking services, automobile financing, recreational vehicle and marine financing, equipment leasing, investment management, trust services, brokerage services, insurance programs, and other financial products and services.

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Earnings History and Estimates for Huntington Bancshares (NASDAQ:HBAN)

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