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

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) posted its quarterly earnings results on Friday. The bank reported $0.34 earnings per share 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 period in the prior year, the company posted $0.27 EPS.

Huntington Bancshares Stock Performance

Shares of HBAN traded up $0.11 during midday trading on Friday, reaching $16.95. The stock had a trading volume of 26,058,376 shares, compared to its average volume of 18,091,574. The firm has a market cap of $24.62 billion, a PE ratio of 16.30, a P/E/G ratio of 2.51 and a beta of 1.07. The firm has a 50 day simple moving average of $17.07 and a 200-day simple moving average of $15.43. Huntington Bancshares has a one year low of $12.02 and a one year high of $18.44. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86.

Insider Activity

In other Huntington Bancshares news, CFO Zachary Jacob Wasserman sold 8,644 shares of the company's stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $17.63, for a total value of $152,393.72. Following the transaction, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Helga Houston sold 6,455 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now owns 558,342 shares of the company's stock, valued at approximately $8,615,217.06. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,699 shares of company stock valued at $757,356. 0.92% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a research note on Thursday, December 12th. 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 note on Wednesday, October 30th. DA Davidson increased their target price on shares of Huntington Bancshares from $16.50 to $17.50 and gave the stock a "buy" rating in a report on Monday, October 21st. Barclays boosted their price target on shares of Huntington Bancshares from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, January 6th. Finally, Truist Financial initiated coverage on Huntington Bancshares in a report on Tuesday, January 7th. They set a "buy" rating and a $19.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of "Moderate Buy" and an average price target of $17.76.

Huntington Bancshares Company Profile

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.