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

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Huntington Bancshares in a note issued to investors on Monday, April 22nd. DA Davidson analyst P. Winter anticipates 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 target on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.21 per share.

A number of other equities research analysts have also recently commented on the company. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $15.00 in a research note on Wednesday, February 14th. Morgan Stanley reissued an “overweight” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Monday. Royal Bank of Canada raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Stephens reissued an “equal weight” rating and issued a $15.00 price objective on shares of Huntington Bancshares in a research note on Monday. Finally, Evercore ISI raised their price objective on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.17.

Huntington Bancshares Trading Up 1.9 %

Shares of Huntington Bancshares stock opened at $13.53 on Tuesday. 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 has a 52 week low of $9.13 and a 52 week high of $14.07. The stock has a 50 day moving average price of $13.29 and a two-hundred day moving average price of $12.19. The stock has a market capitalization of $19.62 billion, a PE ratio of 12.19, a price-to-earnings-growth ratio of 2.47 and a beta of 1.11.

Huntington Bancshares (NASDAQ:HBAN) last released 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. 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 quarter last year, the firm posted $0.38 earnings per share.

Institutional Trading of Huntington Bancshares

A number of large investors have recently bought and sold shares of the company. PFG Investments LLC purchased a new stake in Huntington Bancshares in the first quarter worth $407,000. Raymond James & Associates increased its position in Huntington Bancshares by 3.1% in the first quarter. Raymond James & Associates now owns 7,403,303 shares of the bank’s stock worth $103,276,000 after buying an additional 225,911 shares during the last quarter. American National Bank & Trust Co. VA purchased a new stake in Huntington Bancshares in the first quarter worth $785,000. First Trust Direct Indexing L.P. increased its position in Huntington Bancshares by 25.1% in the first quarter. First Trust Direct Indexing L.P. now owns 32,725 shares of the bank’s stock worth $457,000 after buying an additional 6,564 shares during the last quarter. Finally, Norden Group LLC purchased a new stake in Huntington Bancshares in the first quarter worth $551,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 sale, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the director now directly owns 192,247 shares in the company, valued at $2,603,024.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Helga Houston sold 28,700 shares of Huntington Bancshares stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the sale, the insider now owns 568,222 shares in the company, valued at $7,483,483.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,241 shares of company stock worth $1,360,359. 0.89% of the stock is owned by company insiders.

Huntington Bancshares Announces Dividend

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