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

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at DA Davidson increased their FY2024 earnings per share (EPS) estimates for shares of Huntington Bancshares in a note issued to investors on Monday, April 22nd. DA Davidson analyst P. Winter now anticipates that the bank will earn $1.21 per share for the year, up from their previous estimate 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.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates 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 company posted $0.38 earnings per share.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. Royal Bank of Canada raised their price target on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Stephens reiterated an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research report on Monday. Bank of America upgraded 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. Finally, Citigroup lifted their price target on Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $15.17.

Huntington Bancshares Stock Up 1.0 %

HBAN opened at $13.76 on Wednesday. Huntington Bancshares has a twelve month low of $9.13 and a twelve month high of $14.07. The firm has a market cap of $19.95 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 2.50 and a beta of 1.11. The firm’s 50-day simple moving average is $13.33 and its 200-day simple 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be paid 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 is Friday, June 14th. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.86%.

Insider Transactions at Huntington Bancshares

In other news, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 value of $377,979.00. Following the completion of the transaction, the insider now owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ann B. Crane sold 58,000 shares of the firm’s stock in a transaction 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 directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold 102,241 shares of company stock worth $1,360,359 in the last three months. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Large investors have recently modified their holdings of the business. Boston Partners raised its holdings in Huntington Bancshares by 59.3% during the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after buying an additional 17,365,446 shares during the period. Norges Bank acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth $206,703,000. KBC Group NV raised its holdings in shares of Huntington Bancshares by 715.0% during the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock worth $54,081,000 after acquiring an additional 3,729,974 shares during the period. Victory Capital Management Inc. lifted its position in Huntington Bancshares by 23.7% in the 3rd quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock valued at $186,421,000 after acquiring an additional 3,438,552 shares in the last quarter. Finally, Bank of Nova Scotia boosted its stake in Huntington Bancshares by 641.5% in the 4th quarter. Bank of Nova Scotia now owns 2,775,356 shares of the bank’s stock worth $35,301,000 after purchasing an additional 2,401,067 shares during the period. 80.72% of the stock is currently owned by 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.