$1.15 Billion in Sales Expected for Huntington Bancshares Incorporated (HBAN) This Quarter

Share on StockTwits

Wall Street brokerages expect that Huntington Bancshares Incorporated (NASDAQ:HBAN) will post $1.15 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Huntington Bancshares’ earnings. The lowest sales estimate is $1.15 billion and the highest is $1.17 billion. Huntington Bancshares reported sales of $1.08 billion during the same quarter last year, which indicates a positive year over year growth rate of 6.5%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, April 23rd.

According to Zacks, analysts expect that Huntington Bancshares will report full year sales of $4.75 billion for the current financial year, with estimates ranging from $4.72 billion to $4.78 billion. For the next fiscal year, analysts expect that the firm will report sales of $4.93 billion, with estimates ranging from $4.89 billion to $5.04 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Huntington Bancshares.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, January 24th. The bank reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.02). The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. Huntington Bancshares had a return on equity of 13.93% and a net margin of 26.43%. During the same quarter last year, the company earned $0.26 EPS.

Several equities research analysts recently weighed in on the stock. Raymond James increased their price objective on shares of Huntington Bancshares from $15.50 to $16.00 and gave the stock an “outperform” rating in a research note on Friday, November 16th. Sandler O’Neill lowered shares of Huntington Bancshares from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research note on Thursday, November 29th. They noted that the move was a valuation call. Nomura reiterated a “neutral” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, November 13th. ValuEngine upgraded shares of Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Monday, November 12th. Finally, Wedbush lowered shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $18.00 to $16.00 in a research note on Friday, November 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.54.

HBAN opened at $13.89 on Thursday. The stock has a market cap of $14.71 billion, a P/E ratio of 11.58, a price-to-earnings-growth ratio of 1.12 and a beta of 1.35. Huntington Bancshares has a fifty-two week low of $11.12 and a fifty-two week high of $16.60. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.87.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 18th will be paid a $0.14 dividend. The ex-dividend date is Friday, March 15th. This represents a $0.56 annualized dividend and a dividend yield of 4.03%. Huntington Bancshares’s payout ratio is currently 46.67%.

In other Huntington Bancshares news, EVP Daniel J. Neumeyer sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $13.71, for a total value of $822,600.00. Following the sale, the executive vice president now owns 356,615 shares in the company, valued at $4,889,191.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen H. Ransier sold 4,820 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $14.53, for a total transaction of $70,034.60. Following the completion of the sale, the director now owns 113,712 shares in the company, valued at approximately $1,652,235.36. The disclosure for this sale can be found here. Insiders sold 83,330 shares of company stock worth $1,142,335 in the last 90 days. 1.05% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Huntington Bancshares by 0.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 246,456 shares of the bank’s stock valued at $2,938,000 after acquiring an additional 871 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in Huntington Bancshares by 1.6% during the fourth quarter. Valeo Financial Advisors LLC now owns 57,891 shares of the bank’s stock worth $690,000 after buying an additional 885 shares in the last quarter. Wright Investors Service Inc. boosted its holdings in Huntington Bancshares by 2.0% during the fourth quarter. Wright Investors Service Inc. now owns 45,723 shares of the bank’s stock worth $545,000 after buying an additional 894 shares in the last quarter. Fishman Jay A Ltd. MI boosted its holdings in Huntington Bancshares by 8.3% during the fourth quarter. Fishman Jay A Ltd. MI now owns 13,000 shares of the bank’s stock worth $155,000 after buying an additional 1,000 shares in the last quarter. Finally, Moody National Bank Trust Division boosted its holdings in Huntington Bancshares by 43.8% during the fourth quarter. Moody National Bank Trust Division now owns 4,191 shares of the bank’s stock worth $50,000 after buying an additional 1,276 shares in the last quarter. Institutional investors and hedge funds own 76.20% of the company’s stock.

Huntington Bancshares Company Profile

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).

Recommended Story: What are the components of an earnings report?

Get a free copy of the Zacks research report on Huntington Bancshares (HBAN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Huntington Bancshares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huntington Bancshares and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply