FY2024 EPS Estimates for Huntington Bancshares Incorporated (NASDAQ:HBAN) Lifted by Analyst

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at DA Davidson increased their FY2024 earnings per share (EPS) estimates for shares of Huntington Bancshares in a research note issued to investors on Monday, April 22nd. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $1.21 for the year, up from their prior forecast of $1.20. DA Davidson has a “Buy” rating and a $15.50 price objective 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. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the firm posted $0.38 EPS.

HBAN has been the subject of a number of other reports. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their price target for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Keefe, Bruyette & Woods upped their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research report on Friday, April 5th. Barclays raised shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $12.00 to $15.00 in a research report on Tuesday, January 2nd. Raymond James upped their price objective on Huntington Bancshares from $13.00 to $15.00 and gave the company a “strong-buy” rating in a research note on Tuesday, December 26th. Finally, Evercore ISI increased their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.17.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $13.63 on Wednesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The stock has a 50 day moving average price of $13.31 and a 200 day moving average price of $12.21. The company has a market capitalization of $19.76 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 2.50 and a beta of 1.11. Huntington Bancshares has a 52-week low of $9.13 and a 52-week high of $14.07.

Institutional Inflows and Outflows

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

Insider Transactions at Huntington Bancshares

In related news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction on 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 of the company’s stock, valued at $2,603,024.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Huntington Bancshares news, insider Helga Houston sold 28,700 shares of the firm’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 completion of the transaction, the insider now directly owns 568,222 shares in the company, valued at approximately $7,483,483.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of 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 valued at $1,360,359 in the last quarter. 0.92% of the stock is currently owned by corporate insiders.

Huntington Bancshares Dividend Announcement

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 given a dividend of $0.155 per share. The ex-dividend date is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.55%. Huntington Bancshares’s payout ratio is 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.