Huntington Bancshares Incorporated (NASDAQ:HBAN) to Post FY2024 Earnings of $1.21 Per Share, DA Davidson Forecasts

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Stock analysts at DA Davidson raised their FY2024 earnings estimates for shares of Huntington Bancshares in a research note issued to investors on Monday, April 22nd. DA Davidson analyst P. Winter now expects that the bank will earn $1.21 per share for the year, up from their prior forecast of $1.20. DA Davidson currently has a “Buy” rating and a $15.50 target price on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.22 per share. DA Davidson also issued estimates for Huntington Bancshares’ FY2025 earnings at $1.44 EPS.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada boosted their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. JPMorgan Chase & Co. raised their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Morgan Stanley reiterated an “overweight” rating and set a $16.00 price target on shares of Huntington Bancshares in a report on Monday. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Finally, Bank of America upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.00 to $16.00 in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Huntington Bancshares Price Performance

HBAN stock opened at $13.76 on Wednesday. The firm’s fifty day moving average is $13.33 and its 200 day moving average is $12.22. 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 52 week low of $9.13 and a 52 week high of $14.07. The firm has a market cap of $19.95 billion, a P/E ratio of 12.40, a P/E/G ratio of 2.50 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results 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 company had revenue of $2.85 billion during the quarter, compared to the consensus estimate of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same quarter in the previous year, the company posted $0.38 EPS.

Huntington Bancshares Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date of this dividend is Friday, June 14th. Huntington Bancshares’s payout ratio is 55.86%.

Insider Activity

In other Huntington Bancshares news, insider Helga Houston sold 28,700 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total transaction of $377,979.00. Following the transaction, the insider now owns 568,222 shares in the company, valued at approximately $7,483,483.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Huntington Bancshares news, insider Helga Houston sold 28,700 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $13.17, for a total transaction of $377,979.00. Following the completion of the sale, the insider now directly owns 568,222 shares in the company, valued at approximately $7,483,483.74. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction 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 sale, the vice president now owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock valued at $1,360,359 over the last ninety days. 0.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new stake in Huntington Bancshares during the 3rd quarter worth approximately $381,000. SG Americas Securities LLC increased its stake in Huntington Bancshares by 208.2% in the 3rd quarter. SG Americas Securities LLC now owns 72,404 shares of the bank’s stock worth $753,000 after buying an additional 48,913 shares in the last quarter. DAVENPORT & Co LLC lifted its position in shares of Huntington Bancshares by 5.9% in the third quarter. DAVENPORT & Co LLC now owns 252,970 shares of the bank’s stock valued at $2,631,000 after acquiring an additional 14,146 shares in the last quarter. Caprock Group LLC boosted its stake in shares of Huntington Bancshares by 51.0% in the third quarter. Caprock Group LLC now owns 25,311 shares of the bank’s stock worth $268,000 after acquiring an additional 8,550 shares during the period. Finally, Trinity Financial Advisors LLC lifted its holdings in Huntington Bancshares by 47.9% in the 3rd quarter. Trinity Financial Advisors LLC now owns 55,655 shares of the bank’s stock worth $579,000 after purchasing an additional 18,025 shares in the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

About Huntington Bancshares

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.