Research Analysts Issue Forecasts for Huntington Bancshares Incorporated’s FY2024 Earnings (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at DA Davidson upped their FY2024 earnings per share (EPS) estimates for Huntington Bancshares in a research note issued to investors on Monday, July 22nd. DA Davidson analyst P. Winter now anticipates that the bank will post earnings of $1.23 per share for the year, up from their previous forecast of $1.15. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.19 per share. DA Davidson also issued estimates for Huntington Bancshares’ FY2025 earnings at $1.44 EPS.

Other equities research analysts have also issued research reports about the stock. Evercore ISI decreased their price objective on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, June 25th. Piper Sandler raised their price objective on Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a report on Monday. Keefe, Bruyette & Woods lowered their target price on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada raised their price target on Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Citigroup upped their price objective on shares of Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.50.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $15.06 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The stock’s fifty day moving average is $13.43 and its two-hundred day moving average is $13.29. Huntington Bancshares has a 52 week low of $9.25 and a 52 week high of $15.24. The company has a market capitalization of $21.83 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 3.08 and a beta of 1.06.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, July 19th. The bank reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the previous year, the company earned $0.35 EPS.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 17th will be issued a $0.155 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.12%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Buying and Selling

In other news, VP Nancy E. Maloney sold 57,537 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the sale, the vice president now owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Rajeev Syal sold 27,265 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $13.51, for a total transaction of $368,350.15. Following the transaction, the vice president now owns 397,173 shares in the company, valued at approximately $5,365,807.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. Insiders have sold a total of 152,418 shares of company stock valued at $2,214,979 over the last ninety days. Company insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. purchased a new position in Huntington Bancshares during the fourth quarter worth approximately $29,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Huntington Bancshares during the 1st quarter worth approximately $29,000. Nemes Rush Group LLC lifted its holdings in Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after acquiring an additional 1,391 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in Huntington Bancshares during the first quarter worth $30,000. Finally, Planned Solutions Inc. purchased a new stake in Huntington Bancshares in the fourth quarter valued at $33,000. 80.72% of the stock is 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.