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

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Research analysts at DA Davidson decreased their Q2 2024 earnings per share (EPS) estimates for shares of Huntington Bancshares in a note issued to investors on Thursday, June 27th. DA Davidson analyst P. Winter now anticipates 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.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the prior year, the firm posted $0.38 earnings per share.

Several other research analysts have also weighed in on the company. Piper Sandler lowered Huntington Bancshares from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $13.50 to $11.50 in a research report on Friday, June 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $16.00 price target on shares of Huntington Bancshares in a report on Tuesday, June 11th. Evercore ISI reduced their price objective on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. decreased 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 report on Thursday, June 27th. Finally, Stephens reiterated an “equal weight” rating and set a $15.00 price target on shares of Huntington Bancshares in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares has an average rating of “Moderate Buy” and an average target price of $15.03.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $13.16 on Monday. The firm has a 50 day simple moving average of $13.41 and a 200-day simple moving average of $13.16. The stock has a market cap of $19.07 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. 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 has a 1-year low of $9.25 and a 1-year high of $14.30.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Stockholders 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 4.71%. The ex-dividend date of this dividend was Monday, June 17th. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Transactions at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the transaction, the vice president now owns 385,409 shares in the company, valued at approximately $5,241,562.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Brantley J. Standridge sold 50,000 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the sale, the vice president now directly owns 385,409 shares in the company, valued at approximately $5,241,562.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 305,884 shares of the company’s stock, valued at approximately $4,178,375.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,829 shares of company stock valued at $2,148,623. 0.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Mariner LLC boosted its stake in Huntington Bancshares by 2.1% in the third quarter. Mariner LLC now owns 127,271 shares of the bank’s stock valued at $1,324,000 after acquiring an additional 2,561 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Huntington Bancshares by 304.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 79,293 shares of the bank’s stock valued at $825,000 after purchasing an additional 59,685 shares during the period. Bank of Nova Scotia grew its stake in Huntington Bancshares by 199.6% during the 3rd quarter. Bank of Nova Scotia now owns 374,289 shares of the bank’s stock worth $3,893,000 after buying an additional 249,356 shares during the last quarter. Ancora Advisors LLC increased its position in Huntington Bancshares by 3.0% during the third quarter. Ancora Advisors LLC now owns 70,088 shares of the bank’s stock worth $729,000 after buying an additional 2,061 shares during the period. Finally, Rehmann Capital Advisory Group purchased a new stake in Huntington Bancshares in the third quarter valued at approximately $112,000. 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.