FBR & Co Comments on Huntington Bancshares Incorporated’s FY2017 Earnings (HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Research analysts at FBR & Co lifted their FY2017 earnings per share (EPS) estimates for Huntington Bancshares in a report released on Monday. FBR & Co analyst S. Moss now forecasts that the bank will earn $0.97 per share for the year, up from their previous estimate of $0.94. FBR & Co has a “Mkt Perform” rating and a $14.00 price target on the stock.

HBAN has been the topic of several other reports. BMO Capital Markets restated an “outperform” rating and set a $15.00 target price (down from $16.00) on shares of Huntington Bancshares in a research report on Friday, July 21st. Zacks Investment Research raised Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a research note on Tuesday, April 11th. Hilliard Lyons raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $15.00 in a research note on Monday. Jefferies Group LLC raised Huntington Bancshares from a “hold” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $16.00 in a research note on Monday, April 3rd. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and set a $14.00 price target (down previously from $14.50) on shares of Huntington Bancshares in a research note on Saturday, April 22nd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.83.

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Shares of Huntington Bancshares (HBAN) traded down 1.27% during midday trading on Tuesday, hitting $13.23. 2,814,356 shares of the stock were exchanged. The firm has a market cap of $14.42 billion, a PE ratio of 18.32 and a beta of 1.37. Huntington Bancshares has a 12-month low of $9.10 and a 12-month high of $14.74. The firm has a 50-day moving average price of $13.30 and a 200 day moving average price of $13.34.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, July 21st. The bank reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.23 by $0.03. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Huntington Bancshares had a net margin of 18.41% and a return on equity of 11.39%. During the same period in the prior year, the business posted $0.19 earnings per share.

Several hedge funds have recently modified their holdings of the company. Quadrature Capital Ltd purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth about $3,787,000. Wealthfront Inc. boosted its stake in shares of Huntington Bancshares by 23.5% in the fourth quarter. Wealthfront Inc. now owns 18,945 shares of the bank’s stock worth $250,000 after buying an additional 3,609 shares during the last quarter. Jackson Grant Investment Advisers Inc. purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth about $182,000. USA Financial Portformulas Corp purchased a new stake in shares of Huntington Bancshares during the fourth quarter worth about $614,000. Finally, Pegasus Partners Ltd. boosted its stake in shares of Huntington Bancshares by 13.2% in the fourth quarter. Pegasus Partners Ltd. now owns 64,531 shares of the bank’s stock worth $853,000 after buying an additional 7,541 shares during the last quarter. Institutional investors and hedge funds own 75.51% of the company’s stock.

In other Huntington Bancshares news, EVP Andrew J. Harmening purchased 15,490 shares of the stock in a transaction on Monday, May 15th. The stock was bought at an average price of $12.92 per share, for a total transaction of $200,130.80. Following the acquisition, the executive vice president now directly owns 35,543 shares of the company’s stock, valued at $459,215.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen D. Steinour purchased 50,000 shares of the stock in a transaction on Thursday, May 18th. The stock was acquired at an average price of $12.40 per share, with a total value of $620,000.00. Following the acquisition, the chief executive officer now directly owns 3,891,831 shares in the company, valued at $48,258,704.40. The disclosure for this purchase can be found here. 1.30% of the stock is owned by insiders.

Huntington Bancshares announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to buyback $308.00 million in shares. This buyback authorization permits the bank to buy up to 2.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Friday, September 15th. Huntington Bancshares’s dividend payout ratio (DPR) is 46.38%.

About Huntington Bancshares

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.

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

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