According to Zacks, “Huntington’s estimates have been stable lately ahead of the company’s third-quarter 2016 earnings release. The company remains well poised for organic growth driven by consistent growth in loan and deposit balances. Its robust liquidity position aids in undertaking acquisitions,. Notably, management expects the acquisition of FirstMerit Corp. which was completed in August to be accretive to Huntington’s earnings next year. Additionally, improvement in credit metrics should enhance its business performance. However, the low rate environment has taken a toll on the bank’s net interest margin (NIM) which will continue to remain under pressure if there is no rise in interest rates. Also, rising costs continue to hurt bottom-line growth. Moreover, the stringent regulations across the finance sector limit the company’s business opportunities.”
Other equities analysts also recently issued research reports about the stock. Nomura reiterated a hold rating on shares of Huntington Bancshares in a report on Saturday, July 9th. Barclays PLC reiterated a hold rating on shares of Huntington Bancshares in a report on Saturday, July 9th. JPMorgan Chase & Co. restated a hold rating and issued a $10.50 price objective on shares of Huntington Bancshares in a research report on Thursday, June 9th. Deutsche Bank AG restated a hold rating and issued a $10.50 price objective on shares of Huntington Bancshares in a research report on Monday, June 27th. Finally, FBR & Co upgraded Huntington Bancshares from a market perform rating to an outperform rating and set a $11.00 price objective on the stock in a research report on Monday, July 11th. Fourteen analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $11.12.
Shares of Huntington Bancshares (NASDAQ:HBAN) traded down 0.4439% during midday trading on Tuesday, reaching $10.1149. 1,223,635 shares of the company traded hands. The firm has a market capitalization of $8.08 billion, a PE ratio of 12.9678 and a beta of 1.13. The stock has a 50 day moving average price of $9.81 and a 200 day moving average price of $9.68. Huntington Bancshares has a 1-year low of $7.83 and a 1-year high of $11.87.
Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by $0.02. Huntington Bancshares had a return on equity of 11.07% and a net margin of 20.85%. During the same quarter last year, the company posted $0.23 earnings per share. Analysts expect that Huntington Bancshares will post $0.82 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 19th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Thursday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 35.90%.
In other Huntington Bancshares news, EVP Nicholas G. Stanutz sold 35,350 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $9.64, for a total value of $340,774.00. Following the completion of the sale, the executive vice president now directly owns 434,650 shares of the company’s stock, valued at approximately $4,190,026. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David S. Anderson sold 9,006 shares of the firm’s stock in a transaction on Monday, August 29th. The stock was sold at an average price of $9.82, for a total value of $88,438.92. Following the completion of the sale, the executive vice president now directly owns 110,233 shares of the company’s stock, valued at $1,082,488.06. The disclosure for this sale can be found here. 1.65% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Huntington Bancshares by 3.6% in the first quarter. Geode Capital Management LLC now owns 6,895,402 shares of the company’s stock worth $65,655,000 after buying an additional 239,414 shares during the period. Wesbanco Bank Inc. increased its stake in shares of Huntington Bancshares by 2.9% in the second quarter. Wesbanco Bank Inc. now owns 130,685 shares of the company’s stock worth $1,168,000 after buying an additional 3,637 shares during the period. Renaissance Technologies LLC increased its stake in shares of Huntington Bancshares by 3,035.4% in the first quarter. Renaissance Technologies LLC now owns 3,658,085 shares of the company’s stock worth $34,898,000 after buying an additional 3,541,414 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Huntington Bancshares by 1,688.7% in the first quarter. Nuveen Asset Management LLC now owns 1,819,386 shares of the company’s stock worth $17,357,000 after buying an additional 1,717,669 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Huntington Bancshares by 31.0% in the second quarter. Teacher Retirement System of Texas now owns 56,816 shares of the company’s stock worth $508,000 after buying an additional 13,433 shares during the period. 75.73% of the stock is owned by institutional investors and hedge funds.
About Huntington Bancshares
Huntington Bancshares Incorporated is a diversified regional bank holding company. Through its subsidiaries, including its bank subsidiary, The Huntington National Bank (the Bank), the Company is engaged in providing commercial, small business, consumer banking services, mortgage banking services, automobile financing, equipment leasing, investment management, trust services, brokerage services, customized insurance programs, and other financial products and services.
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