Brokers Issue Forecasts for Huntington Bancshares Incorporated’s Q2 2024 Earnings (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Huntington Bancshares in a report issued on Monday, April 22nd. DA Davidson analyst P. Winter forecasts that the bank will earn $0.28 per share for the quarter. 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 $1.21 per share.

Several other equities analysts have also recently issued reports on the company. Evercore ISI raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the company from $14.00 to $15.00 in a report on Wednesday, February 14th. Morgan Stanley reiterated an “overweight” rating and issued a $16.00 price target on shares of Huntington Bancshares in a report on Monday. JPMorgan Chase & Co. raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, April 4th. Finally, Keefe, Bruyette & Woods raised their target price on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

Huntington Bancshares Price Performance

Huntington Bancshares stock opened at $13.53 on Tuesday. The business’s 50-day simple moving average is $13.29 and its 200 day simple moving average is $12.19. The stock has a market cap of $19.62 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 2.47 and a beta of 1.11. Huntington Bancshares has a 12-month low of $9.13 and a 12-month high of $14.07. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $2.85 billion for 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 quarter in the prior year, the business earned $0.38 earnings per share.

Huntington Bancshares Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.58%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Transactions at Huntington Bancshares

In other news, VP Julie C. Tutkovics sold 15,541 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $13.54, for a total value of $785,320.00. Following the sale, the director now owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares 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 sale, the vice president now directly owns 303,455 shares in the company, 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 90 days. 0.89% of the stock is owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue raised its position in Huntington Bancshares by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after buying an additional 780 shares during the last quarter. Park Avenue Securities LLC raised its position in Huntington Bancshares by 1.3% in the 1st quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock valued at $880,000 after buying an additional 794 shares during the last quarter. Mather Group LLC. raised its position in Huntington Bancshares by 5.8% in the 4th quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock valued at $196,000 after buying an additional 837 shares during the last quarter. Financial Advocates Investment Management grew its stake in Huntington Bancshares by 5.9% in the fourth quarter. Financial Advocates Investment Management now owns 15,325 shares of the bank’s stock valued at $195,000 after purchasing an additional 856 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Huntington Bancshares by 12.0% in the fourth quarter. Blue Trust Inc. now owns 8,460 shares of the bank’s stock valued at $108,000 after purchasing an additional 904 shares in the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.