Q2 2023 Earnings Estimate for Huntington Bancshares Incorporated Issued By Wedbush (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBANGet Rating) – Wedbush increased their Q2 2023 earnings per share (EPS) estimates for Huntington Bancshares in a research report issued to clients and investors on Tuesday, April 12th. Wedbush analyst P. Winter now expects that the bank will earn $0.37 per share for the quarter, up from their previous forecast of $0.36.

Huntington Bancshares (NASDAQ:HBANGet Rating) last posted its earnings results on Friday, January 21st. The bank reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). Huntington Bancshares had a net margin of 30.05% and a return on equity of 13.42%. The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.69 billion. During the same period in the previous year, the firm posted $0.27 earnings per share.

HBAN has been the subject of several other reports. Raymond James reduced their target price on Huntington Bancshares from $20.00 to $19.00 and set a “strong-buy” rating for the company in a report on Monday, January 24th. Deutsche Bank Aktiengesellschaft restated a “hold” rating on shares of Huntington Bancshares in a research report on Friday, December 17th. Morgan Stanley dropped their price target on Huntington Bancshares from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, March 28th. Barclays cut Huntington Bancshares from an “equal weight” rating to an “underweight” rating and set a $17.00 price target on the stock. in a research report on Monday, January 3rd. Finally, StockNews.com cut Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Huntington Bancshares stock opened at $13.36 on Thursday. Huntington Bancshares has a fifty-two week low of $13.01 and a fifty-two week high of $17.79. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.81 and a current ratio of 0.82. The company has a market capitalization of $19.30 billion, a P/E ratio of 9.82, a PEG ratio of 0.46 and a beta of 1.19. The stock has a 50-day simple moving average of $15.01 and a 200-day simple moving average of $15.59.

The company also recently declared a quarterly dividend, which was paid on Friday, April 1st. Investors of record on Friday, March 18th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date of this dividend was Thursday, March 17th. Huntington Bancshares’s dividend payout ratio is currently 45.59%.

In other news, EVP Scott D. Kleinman sold 8,290 shares of the company’s stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $15.50, for a total transaction of $128,495.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth J. Phelan purchased 6,684 shares of the stock in a transaction that occurred on Monday, February 7th. The stock was bought at an average price of $15.83 per share, with a total value of $105,807.72. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 17,374 shares of company stock worth $289,397. Insiders own 0.72% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Pflug Koory LLC raised its holdings in shares of Huntington Bancshares by 135.8% during the first quarter. Pflug Koory LLC now owns 14,042 shares of the bank’s stock valued at $205,000 after buying an additional 8,088 shares during the last quarter. Woodward Diversified Capital LLC raised its holdings in shares of Huntington Bancshares by 7.6% during the first quarter. Woodward Diversified Capital LLC now owns 17,062 shares of the bank’s stock valued at $249,000 after buying an additional 1,207 shares during the last quarter. CNB Bank raised its holdings in shares of Huntington Bancshares by 3.4% during the first quarter. CNB Bank now owns 39,197 shares of the bank’s stock valued at $573,000 after buying an additional 1,284 shares during the last quarter. Brookstone Capital Management increased its stake in shares of Huntington Bancshares by 24.3% during the first quarter. Brookstone Capital Management now owns 384,692 shares of the bank’s stock valued at $5,309,000 after acquiring an additional 75,137 shares during the period. Finally, Carnegie Capital Asset Management LLC increased its stake in shares of Huntington Bancshares by 3.7% during the first quarter. Carnegie Capital Asset Management LLC now owns 604,998 shares of the bank’s stock valued at $8,845,000 after acquiring an additional 21,707 shares during the period. 78.27% of the stock is currently owned by hedge funds and other institutional investors.

About Huntington Bancshares (Get Rating)

Huntington Bancshares, Inc operates as a bank holding company. It 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, other financial products and services.

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

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