Huntington Bancshares (NASDAQ:HBAN) Releases Earnings Results, Beats Expectations By $0.03 EPS

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) announced its earnings results on Friday. The bank reported $0.34 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.03, Zacks reports. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. During the same quarter in the previous year, the business posted $0.27 earnings per share.

Huntington Bancshares Price Performance

Huntington Bancshares stock traded up $0.10 during trading hours on Friday, hitting $16.94. The stock had a trading volume of 24,378,359 shares, compared to its average volume of 18,027,008. Huntington Bancshares has a 1-year low of $12.02 and a 1-year high of $18.44. The stock has a market capitalization of $24.60 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.51 and a beta of 1.07. The stock's fifty day moving average is $17.07 and its two-hundred day moving average is $15.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HBAN. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $20.00 price target on shares of Huntington Bancshares in a research report on Monday, December 23rd. DA Davidson raised their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the company a "buy" rating in a report on Monday, October 21st. Keefe, Bruyette & Woods lifted their price target on shares of Huntington Bancshares from $16.00 to $19.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $20.00 price objective (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Finally, Evercore ISI lifted their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.76.

Insiders Place Their Bets

In related news, VP Scott D. Kleinman sold 28,600 shares of the firm's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the sale, the vice president now owns 496,076 shares in the company, valued at approximately $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Helga Houston sold 6,455 shares of the business's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the transaction, the insider now owns 558,342 shares of the company's stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,699 shares of company stock worth $757,356. Insiders own 0.92% of the company's stock.

About Huntington Bancshares

Huntington Bancshares Incorporated operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States. The company offers financial products and services to consumer and business customers, including deposits, lending, payments, mortgage banking, dealer financing, investment management, trust, brokerage, insurance, and other financial products and services.