Huntington Bancshares Incorporated (NASDAQ:HBAN) to Post Q2 2024 Earnings of $0.28 Per Share, DA Davidson Forecasts

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Huntington Bancshares in a research report issued on Monday, April 22nd. DA Davidson analyst P. Winter anticipates that the bank will earn $0.28 per share for the quarter. DA Davidson currently has a “Buy” rating and a $15.50 price target on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.21 per share.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period in the prior year, the business posted $0.38 EPS.

Other equities research analysts have also recently issued reports about the company. Evercore ISI increased their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Raymond James raised their price objective on Huntington Bancshares from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, December 26th. UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Citigroup raised their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, JPMorgan Chase & Co. raised their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

Huntington Bancshares Trading Up 0.7 %

Huntington Bancshares stock opened at $13.63 on Tuesday. The stock has a 50-day moving average of $13.31 and a two-hundred day moving average of $12.21. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. Huntington Bancshares has a one year low of $9.13 and a one year high of $14.07. The stock has a market cap of $19.76 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wetzel Investment Advisors Inc. purchased a new position in Huntington Bancshares during the fourth quarter worth approximately $29,000. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares during the first quarter worth approximately $29,000. Nemes Rush Group LLC lifted its position in Huntington Bancshares by 140.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after buying an additional 1,391 shares in the last quarter. Planned Solutions Inc. purchased a new position in Huntington Bancshares during the fourth quarter worth approximately $33,000. Finally, Authentikos Wealth Advisory LLC purchased a new position in Huntington Bancshares during the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total value of $197,059.88. Following the transaction, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Helga Houston sold 28,700 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the transaction, the insider now owns 568,222 shares in the company, valued at $7,483,483.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the completion of the transaction, the vice president now owns 303,455 shares in the company, valued at approximately $3,847,809.40. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,241 shares of company stock valued at $1,360,359. Company insiders own 0.92% of the company’s stock.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 4.55%. The ex-dividend date is Monday, June 17th. Huntington Bancshares’s payout ratio is currently 55.86%.

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.