DA Davidson Has Positive Outlook of HBAN FY2024 Earnings

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at DA Davidson lifted their FY2024 earnings estimates for Huntington Bancshares in a note issued to investors on Monday, November 11th. DA Davidson analyst P. Winter now anticipates that the bank will earn $1.23 per share for the year, up from their previous estimate of $1.22. DA Davidson currently has a “Buy” rating and a $17.50 target price on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.21 per share. DA Davidson also issued estimates for Huntington Bancshares’ Q4 2024 earnings at $0.31 EPS.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. The business had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same quarter last year, the firm earned $0.36 earnings per share.

Several other analysts also recently weighed in on the company. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Argus boosted their price objective on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Citigroup lifted their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Robert W. Baird cut Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.09.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $17.54 on Tuesday. The stock has a 50 day moving average price of $15.26 and a 200 day moving average price of $14.27. The firm has a market capitalization of $25.48 billion, a P/E ratio of 16.87, a P/E/G ratio of 3.58 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. Huntington Bancshares has a 52-week low of $10.55 and a 52-week high of $17.97.

Hedge Funds Weigh In On Huntington Bancshares

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HBAN. Lazard Asset Management LLC increased its position in shares of Huntington Bancshares by 251,152.2% during the first quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after purchasing an additional 173,295 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Huntington Bancshares by 53.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock worth $22,577,000 after buying an additional 564,729 shares in the last quarter. Heritage Wealth Management Inc. acquired a new stake in shares of Huntington Bancshares in the second quarter valued at about $744,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Huntington Bancshares by 40.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock worth $2,837,000 after buying an additional 55,865 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in Huntington Bancshares by 531.0% during the second quarter. SG Americas Securities LLC now owns 1,150,690 shares of the bank’s stock worth $15,166,000 after acquiring an additional 968,331 shares during the last quarter. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at approximately $8,615,217.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.53%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 59.62%.

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.