DA Davidson Research Analysts Boost Earnings Estimates for Huntington Bancshares Incorporated (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Research analysts at DA Davidson raised their FY2024 earnings per share estimates for Huntington Bancshares in a research report issued to clients and investors on Monday, April 22nd. DA Davidson analyst P. Winter now expects that the bank will earn $1.21 per share for the year, up from their prior forecast 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 results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.74 billion. During the same period in the prior year, the firm posted $0.38 EPS.

Several other brokerages have also issued reports on HBAN. Barclays raised Huntington Bancshares from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $12.00 to $15.00 in a research report on Tuesday, January 2nd. UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. Keefe, Bruyette & Woods increased their price target on Huntington Bancshares from $14.00 to $15.00 and gave the stock a “market perform” rating in a research note on Friday, April 5th. JPMorgan Chase & Co. increased their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada increased their price target on Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.17.

Huntington Bancshares Trading Down 1.3 %

Shares of Huntington Bancshares stock opened at $13.58 on Wednesday. Huntington Bancshares has a 1 year low of $9.13 and a 1 year high of $14.07. The firm has a market cap of $19.69 billion, a PE ratio of 12.23, a P/E/G ratio of 2.51 and a beta of 1.11. The stock has a fifty day moving average price of $13.35 and a 200-day moving average price of $12.23. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date is Friday, June 14th. This represents a $0.62 annualized dividend and a dividend yield of 4.57%. Huntington Bancshares’s dividend payout ratio is presently 55.86%.

Insider Activity at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at $4,178,375.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the sale, the chief financial officer now directly owns 305,884 shares in the company, valued at $4,178,375.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was 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 $3,847,809.40. The disclosure for this sale can be found here. Insiders have sold 198,189 shares of company stock worth $2,664,978 over the last ninety days. 0.89% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. bought a new stake in Huntington Bancshares in the fourth quarter worth $29,000. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares in the first quarter worth $29,000. Nemes Rush Group LLC raised its stake in shares of Huntington Bancshares by 140.9% in the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after purchasing an additional 1,391 shares during the last quarter. Planned Solutions Inc. purchased a new position in shares of Huntington Bancshares in the fourth quarter worth $33,000. Finally, Authentikos Wealth Advisory LLC purchased a new position in shares of Huntington Bancshares in the third quarter worth $35,000. 80.72% of the stock is 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.