Q2 2020 EPS Estimates for Huntington Bancshares Incorporated (NASDAQ:HBAN) Lowered by Jefferies Financial Group

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Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at Jefferies Financial Group decreased their Q2 2020 earnings per share estimates for shares of Huntington Bancshares in a research report issued to clients and investors on Thursday, January 23rd. Jefferies Financial Group analyst K. Usdin now forecasts that the bank will earn $0.30 per share for the quarter, down from their prior estimate of $0.31. Jefferies Financial Group also issued estimates for Huntington Bancshares’ FY2020 earnings at $1.27 EPS and FY2021 earnings at $1.31 EPS.

Huntington Bancshares (NASDAQ:HBAN) last posted its earnings results on Thursday, January 23rd. The bank reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.03). The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Huntington Bancshares had a return on equity of 13.44% and a net margin of 24.95%. During the same quarter in the previous year, the firm earned $0.29 EPS.

Several other research firms have also recently weighed in on HBAN. BidaskClub cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Tuesday, January 7th. DA Davidson reiterated a “neutral” rating on shares of Huntington Bancshares in a research note on Monday, November 18th. Royal Bank of Canada reiterated a “buy” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Monday. Raymond James reduced their price objective on Huntington Bancshares from $17.00 to $15.50 and set an “outperform” rating for the company in a research note on Friday. Finally, ValuEngine upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.08.

HBAN stock opened at $13.49 on Monday. The business has a 50 day moving average price of $14.82 and a 200 day moving average price of $14.24. The stock has a market cap of $14.17 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.82 and a beta of 1.46. Huntington Bancshares has a fifty-two week low of $12.15 and a fifty-two week high of $15.63. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.93.

A number of hedge funds have recently made changes to their positions in HBAN. Nuveen Asset Management LLC grew its holdings in Huntington Bancshares by 6,315.5% during the second quarter. Nuveen Asset Management LLC now owns 5,523,273 shares of the bank’s stock worth $76,331,000 after acquiring an additional 5,437,181 shares during the period. Royal Bank of Canada grew its holdings in Huntington Bancshares by 39.6% during the second quarter. Royal Bank of Canada now owns 8,735,469 shares of the bank’s stock worth $120,723,000 after acquiring an additional 2,476,376 shares during the period. Anchor Capital Advisors LLC grew its holdings in Huntington Bancshares by 59.6% during the fourth quarter. Anchor Capital Advisors LLC now owns 4,687,621 shares of the bank’s stock worth $70,689,000 after acquiring an additional 1,751,425 shares during the period. KAMES CAPITAL plc acquired a new stake in Huntington Bancshares in the fourth quarter valued at $15,517,000. Finally, State of New Jersey Common Pension Fund D acquired a new stake in Huntington Bancshares in the third quarter valued at $11,272,000. 74.96% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Paul G. Heller sold 7,144 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $14.76, for a total transaction of $105,445.44. Also, insider Helga Houston sold 14,055 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $14.23, for a total value of $200,002.65. Following the sale, the insider now owns 474,498 shares of the company’s stock, valued at approximately $6,752,106.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,941 shares of company stock valued at $987,623. 1.22% of the stock is owned by company insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 18th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend is Tuesday, March 17th. Huntington Bancshares’s dividend payout ratio is currently 47.24%.

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

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