What is DA Davidson’s Estimate for HBAN FY2024 Earnings?

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at DA Davidson upped their FY2024 earnings estimates for Huntington Bancshares in a report released on Tuesday, October 22nd. DA Davidson analyst P. Winter now expects that the bank will earn $1.22 per share for the year, up from their previous forecast of $1.21. DA Davidson has a “Buy” rating and a $17.50 price objective on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.18 per share.

HBAN has been the topic of several other reports. Citigroup boosted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Baird R W lowered shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. Piper Sandler lifted their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an “underweight” rating in a research note on Friday, October 18th. Evercore ISI decreased their price target on shares of Huntington Bancshares from $17.50 to $17.00 and set an “outperform” rating for the company in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $17.00 price objective on shares of Huntington Bancshares in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has assigned 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 $16.03.

Huntington Bancshares Stock Down 1.2 %

Shares of NASDAQ:HBAN opened at $15.38 on Thursday. The stock’s 50-day moving average is $14.75 and its 200 day moving average is $13.99. The company has a market cap of $22.29 billion, a PE ratio of 13.86, a P/E/G ratio of 2.77 and a beta of 1.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a 1 year low of $9.35 and a 1 year high of $16.03.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter in the previous year, the company earned $0.36 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HBAN. Lazard Asset Management LLC increased its holdings in Huntington Bancshares by 251,152.2% in the 1st quarter. Lazard Asset Management LLC now owns 173,364 shares of the bank’s stock worth $2,417,000 after buying an additional 173,295 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Huntington Bancshares by 53.6% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 1,617,730 shares of the bank’s stock valued at $22,577,000 after acquiring an additional 564,729 shares during the last quarter. Heritage Wealth Management Inc. bought a new stake in shares of Huntington Bancshares in the second quarter worth approximately $744,000. Silverleafe Capital Partners LLC purchased a new position in shares of Huntington Bancshares during the first quarter valued at approximately $1,171,000. Finally, SG Americas Securities LLC lifted 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 valued at $15,166,000 after purchasing an additional 968,331 shares during the period. 80.72% of the stock is owned by institutional investors.

Insider Transactions at Huntington Bancshares

In related news, insider Helga Houston sold 6,455 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total transaction 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Helga Houston sold 6,455 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the transaction, the insider now owns 558,342 shares in the company, valued at approximately $8,615,217.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the sale, the vice president now directly owns 11,111 shares of the company’s stock, valued at $167,331.66. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,793 shares of company stock valued at $405,439 in the last quarter. 0.89% of the stock is owned by insiders.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 4.03%. Huntington Bancshares’s payout ratio is presently 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.