Q2 2024 EPS Estimates for Huntington Bancshares Incorporated (NASDAQ:HBAN) Reduced by Analyst

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at DA Davidson decreased their Q2 2024 earnings estimates for Huntington Bancshares in a research report issued to clients and investors on Thursday, June 27th. DA Davidson analyst P. Winter now forecasts that the bank will earn $0.27 per share for the quarter, down from their previous forecast of $0.28. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.19 per share.

Other research analysts have also issued reports about the stock. UBS Group cut their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Thursday, June 13th. JPMorgan Chase & Co. cut their target price on shares of Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating on the stock in a research note on Thursday, June 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Finally, Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” rating to a “buy” rating and raised their price objective for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Two analysts have rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and a consensus price target of $15.03.

Huntington Bancshares Stock Up 0.4 %

Shares of NASDAQ HBAN opened at $13.21 on Monday. The firm has a market cap of $19.14 billion, a PE ratio of 11.90, a P/E/G ratio of 2.49 and a beta of 1.06. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $14.30. The company’s fifty day simple moving average is $13.40 and its 200 day simple moving average is $13.16. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results 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 business had revenue of $2.85 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.38 earnings per share.

Hedge Funds Weigh In On Huntington Bancshares

Large investors have recently modified their holdings of the business. Wetzel Investment Advisors Inc. purchased a new position in shares of Huntington Bancshares in the fourth quarter worth about $29,000. Future Financial Wealth Managment LLC purchased a new position in shares of Huntington Bancshares in the first quarter worth about $29,000. Nemes Rush Group LLC increased 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 in the last quarter. YHB Investment Advisors Inc. purchased a new position in shares of Huntington Bancshares in the first quarter worth about $30,000. Finally, Planned Solutions Inc. purchased a new position in shares of Huntington Bancshares in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In related news, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the transaction, the insider now directly owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Brantley J. Standridge sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares in the company, valued at $5,241,562.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Helga Houston sold 7,278 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the sale, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The disclosure for this sale can be found here. Insiders have sold 157,829 shares of company stock valued at $2,148,623 over the last ninety days. Corporate insiders own 0.92% of the company’s stock.

Huntington Bancshares Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 17th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date of this dividend was Monday, June 17th. Huntington Bancshares’s payout ratio is currently 55.86%.

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.