Boston, MA 10/22/2013 (wallstreetpr) – After posting better-than-expected earnings results, Huntington Bancshares Incorporated (NASDAQ:HBAN) has become a center of attraction for investors and for this, analysts are weighing in with positive notes. The multi-states regional bank holding company with diversified business segments posted its Q3.13 earnings October 17.
The financial institution declared $0.20 in earnings per share on revenue of $682 million. Analysts had expected the company to realize $0.17 in EPS. Thus, the latest earnings exceeded expectations of the market by around $0.03. For the full-year results this fiscal year, analysts have pegged their estimates at $0.68 EPS.
These encouraging results left investors’ confidence surged and this was seen on the stocks behavior on the exchange market soon after the announcement, in which the company’s shares gained significantly in value on Thursday through to Friday. HBAN now has $7.39 billion in market value after the stock gained 0.23% to close north $8.90 on Friday, October 18.
Given HBAN’s unexpected positive performance on the earnings chart, rating firms have continued to hoist their stakes on the company. Jefferies Group for instance issued their latest rating on the stock Friday, October 18, increasing their price target on HBAN to $10, up from $9 in the previous report. They now have the company as a “buy”. This new price ($10) indicates a potential growth of 12.36% from the company’s share value as at October 18.
Following the results announcement, HBAN has placed Q3.13 dividend payout at $0.05 per share. This payout captures investors of records as on December 19, 2013. This dividend payout represents a yield of 2.33% and annualized dividend of $0.20. This payout will be met on the second day of January next year.
At least 22 research analysts have lately commented on HBAN, giving it an average rating of “hold” at a consensus price objective of $8.20, which is about $0.70 lower than the Friday’s closing.