FY2024 EPS Estimates for Huntington Bancshares Incorporated Lowered by DA Davidson (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at DA Davidson decreased their FY2024 earnings estimates for shares of Huntington Bancshares in a research note issued on Thursday, October 3rd. DA Davidson analyst P. Winter now forecasts that the bank will post earnings of $1.21 per share for the year, down from their previous estimate of $1.23. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.19 per share. DA Davidson also issued estimates for Huntington Bancshares’ FY2025 earnings at $1.39 EPS.

Several other equities analysts also recently weighed in on the stock. Piper Sandler increased their price target on shares of Huntington Bancshares from $11.50 to $13.50 and gave the stock an “underweight” rating in a report on Monday, July 22nd. Argus raised their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Royal Bank of Canada upped their price target on shares of Huntington Bancshares from $16.00 to $17.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Jefferies Financial Group reduced their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, UBS Group decreased their price objective on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.71.

Huntington Bancshares Trading Up 0.1 %

Shares of NASDAQ:HBAN opened at $14.64 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. Huntington Bancshares has a 52-week low of $9.25 and a 52-week high of $15.24. The stock has a market cap of $21.22 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 3.07 and a beta of 1.04. The business has a 50-day moving average price of $14.31 and a 200-day moving average price of $13.83.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, July 19th. The bank reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $1.81 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same period in the previous year, the company earned $0.35 earnings per share.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new position in Huntington Bancshares during the first quarter worth $29,000. Peoples Bank KS purchased a new position in shares of Huntington Bancshares during the 3rd quarter worth $29,000. YHB Investment Advisors Inc. acquired a new position in shares of Huntington Bancshares during the 1st quarter valued at about $30,000. Hazlett Burt & Watson Inc. grew its holdings in shares of Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares during the period. Finally, Register Financial Advisors LLC acquired a new stake in Huntington Bancshares during the first quarter worth about $40,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other news, VP Nancy E. Maloney sold 57,537 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total transaction of $871,685.55. Following the completion of the sale, the vice president now owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Nancy E. Maloney sold 57,537 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.15, for a total value of $871,685.55. Following the sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at $1,054,364.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Zachary Jacob Wasserman sold 33,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief financial officer now owns 265,809 shares of the company’s stock, valued at $4,021,690.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 116,622 shares of company stock valued at $1,762,904 over the last ninety days. Corporate insiders own 0.89% of the company’s stock.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th were given a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date was Tuesday, September 17th. Huntington Bancshares’s dividend payout ratio is presently 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.