FY2024 EPS Estimates for Huntington Bancshares Incorporated Increased by Analyst (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – DA Davidson lifted their FY2024 EPS estimates for Huntington Bancshares in a research report issued on Monday, April 22nd. DA Davidson analyst P. Winter now anticipates that the bank will earn $1.21 per share for the year, up from their previous estimate of $1.20. DA Davidson has a “Buy” rating and a $15.50 price target on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.22 per share. DA Davidson also issued estimates for Huntington Bancshares’ FY2025 earnings at $1.44 EPS.

Other equities analysts have also issued reports about the company. UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their price target for the stock from $14.00 to $15.00 in a report on Wednesday, February 14th. Evercore ISI increased their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock an “outperform” rating in a research note on Thursday, March 28th. Barclays upgraded shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $12.00 to $15.00 in a research report on Tuesday, January 2nd. Bank of America upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. Finally, Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and boosted their target price for the stock from $14.00 to $16.00 in a research report on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $15.17.

Huntington Bancshares Stock Up 0.7 %

HBAN stock opened at $13.63 on Wednesday. The company has a market capitalization of $19.76 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 2.50 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a fifty day moving average of $13.31 and a 200-day moving average of $12.21. Huntington Bancshares has a fifty-two week low of $9.13 and a fifty-two week high of $14.07.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly 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. Huntington Bancshares had a net margin of 15.86% and a return on equity of 11.99%. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business posted $0.38 EPS.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HBAN. Amalgamated Bank grew its holdings in shares of Huntington Bancshares by 13.3% during the 1st quarter. Amalgamated Bank now owns 413,836 shares of the bank’s stock worth $5,773,000 after acquiring an additional 48,508 shares during the period. Wesbanco Bank Inc. increased its stake in shares of Huntington Bancshares by 194.0% in the 1st quarter. Wesbanco Bank Inc. now owns 142,602 shares of the bank’s stock worth $1,989,000 after acquiring an additional 94,100 shares in the last quarter. Stablepoint Partners LLC bought a new stake in Huntington Bancshares during the first quarter worth about $164,000. Strategic Blueprint LLC grew its holdings in Huntington Bancshares by 2.8% in the first quarter. Strategic Blueprint LLC now owns 35,450 shares of the bank’s stock worth $495,000 after purchasing an additional 955 shares during the period. Finally, PFG Investments LLC bought a new stake in shares of Huntington Bancshares in the 1st quarter worth approximately $407,000. 80.72% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the transaction, the director now directly owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the transaction, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Helga Houston sold 28,700 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the sale, the insider now owns 568,222 shares of the company’s stock, valued at $7,483,483.74. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,241 shares of company stock valued at $1,360,359. 0.92% of the stock is currently owned by company insiders.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.55%. Huntington Bancshares’s payout ratio is 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.