Huntington Bancshares (NASDAQ:HBAN) Trading Down 3.7% on Disappointing Earnings

Huntington Bancshares Incorporated (NASDAQ:HBAN) traded down 3.7% on Thursday following a dissappointing earnings announcement. The stock traded as low as $17.65 and last traded at $18.0750. 21,534,014 shares traded hands during trading, a decline of 20% from the average session volume of 27,011,875 shares. The stock had previously closed at $18.77.

The bank reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). The company had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Huntington Bancshares had a return on equity of 12.14% and a net margin of 18.06%.During the same period last year, the company posted $0.34 EPS.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $21.00 price target on shares of Huntington Bancshares in a research report on Monday, January 12th. DA Davidson reissued a “buy” rating and issued a $21.00 price target on shares of Huntington Bancshares in a report on Tuesday, October 28th. Deutsche Bank Aktiengesellschaft increased their price objective on Huntington Bancshares from $20.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Morgan Stanley upped their price objective on shares of Huntington Bancshares from $19.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, September 29th. Finally, Wall Street Zen cut shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares has an average rating of “Moderate Buy” and an average price target of $20.08.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 64,587 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $15.38, for a total value of $993,348.06. Following the transaction, the insider directly owned 534,640 shares in the company, valued at approximately $8,222,763.20. This trade represents a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Amit Dhingra sold 10,000 shares of Huntington Bancshares stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $18.50, for a total value of $185,000.00. Following the transaction, the insider owned 155,634 shares in the company, valued at $2,879,229. This trade represents a 6.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 97,863 shares of company stock valued at $1,581,634 in the last quarter. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HBAN. Sagespring Wealth Partners LLC increased its position in Huntington Bancshares by 2.4% during the fourth quarter. Sagespring Wealth Partners LLC now owns 25,217 shares of the bank’s stock valued at $438,000 after acquiring an additional 587 shares during the last quarter. Accurate Wealth Management LLC increased its holdings in Huntington Bancshares by 3.5% during the 2nd quarter. Accurate Wealth Management LLC now owns 18,159 shares of the bank’s stock worth $319,000 after purchasing an additional 611 shares during the period. LifeWealth Investments LLC lifted its stake in Huntington Bancshares by 2.3% in the second quarter. LifeWealth Investments LLC now owns 28,501 shares of the bank’s stock worth $478,000 after acquiring an additional 632 shares during the period. Parcion Private Wealth LLC boosted its stake in shares of Huntington Bancshares by 6.2% during the third quarter. Parcion Private Wealth LLC now owns 11,081 shares of the bank’s stock valued at $191,000 after purchasing an additional 648 shares in the last quarter. Finally, Strategic Planning Inc. increased its holdings in shares of Huntington Bancshares by 0.3% in the 3rd quarter. Strategic Planning Inc. now owns 199,318 shares of the bank’s stock valued at $3,442,000 after acquiring an additional 670 shares during the period. 80.72% of the stock is owned by institutional investors.

Huntington Bancshares Price Performance

The firm has a market capitalization of $28.64 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.67 and a beta of 0.95. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.92 and a quick ratio of 0.91. The stock’s fifty day simple moving average is $17.21 and its 200 day simple moving average is $16.88.

Huntington Bancshares Company Profile

Huntington Bancshares Incorporated (NASDAQ: HBAN) is a bank holding company headquartered in Columbus, Ohio, that provides a broad range of banking and financial services through its principal subsidiary, Huntington National Bank. The company’s operations are centered on retail and commercial banking, and it serves individual consumers, small and middle-market businesses, and institutional customers.

Huntington’s product offerings include traditional deposit and lending products, consumer and commercial loans, mortgage origination and servicing, auto financing, and business banking solutions.