Huntington Bancshares Incorporated (NASDAQ:HBAN) to Post Q2 2024 Earnings of $0.28 Per Share, DA Davidson Forecasts

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at DA Davidson issued their Q2 2024 EPS estimates for Huntington Bancshares in a research note issued to investors on Monday, April 22nd. DA Davidson analyst P. Winter forecasts that the bank will post earnings per share of $0.28 for the quarter. 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 $1.21 per share.

Several other research analysts have also recently commented on the stock. UBS Group raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.00 to $15.00 in a report on Wednesday, February 14th. Raymond James raised their target price on shares of Huntington Bancshares from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a report on Tuesday, December 26th. Citigroup raised their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Evercore ISI raised their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Huntington Bancshares presently has an average rating of “Moderate Buy” and an average price target of $15.17.

Huntington Bancshares Trading Up 0.7 %

Shares of HBAN stock opened at $13.63 on Tuesday. The firm has a 50 day moving average price of $13.31 and a two-hundred day moving average price of $12.21. 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 company has a market capitalization of $19.76 billion, a PE ratio of 12.28, a price-to-earnings-growth 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.

Huntington Bancshares (NASDAQ:HBAN) last issued 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 the consensus estimate of $1.74 billion. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. During the same period last year, the business posted $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 issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.55%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Transactions at Huntington Bancshares

In other news, insider Helga Houston sold 28,700 shares of Huntington Bancshares 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 transaction, the insider now owns 568,222 shares in the company, valued at $7,483,483.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Helga Houston sold 28,700 shares of Huntington Bancshares 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 transaction, the insider now owns 568,222 shares in the company, valued at $7,483,483.74. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction on 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 transaction, the director now owns 192,247 shares in the company, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,241 shares of company stock worth $1,360,359. Company insiders own 0.92% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Huntington Bancshares by 0.7% in the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock valued at $1,789,520,000 after buying an additional 1,209,264 shares during the period. Boston Partners increased its stake in Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after purchasing an additional 17,365,446 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Huntington Bancshares by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock valued at $468,725,000 after purchasing an additional 245,025 shares in the last quarter. Victory Capital Management Inc. increased its stake in Huntington Bancshares by 23.7% in the third quarter. Victory Capital Management Inc. now owns 17,925,067 shares of the bank’s stock valued at $186,421,000 after purchasing an additional 3,438,552 shares in the last quarter. Finally, Norges Bank bought a new stake in Huntington Bancshares in the fourth quarter valued at $206,703,000. Institutional investors and hedge funds own 80.72% of the company’s stock.

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.