Q3 2024 EPS Estimates for Huntington Bancshares Incorporated (NASDAQ:HBAN) Boosted by Analyst

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Stock analysts at Wedbush increased their Q3 2024 earnings estimates for Huntington Bancshares in a research note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings of $0.34 per share for the quarter, up from their prior estimate of $0.32. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.21 per share. Wedbush also issued estimates for Huntington Bancshares’ Q4 2024 earnings at $0.36 EPS and FY2025 earnings at $1.45 EPS.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, January 19th. The bank reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.15. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $1.75 billion. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. During the same quarter last year, the business posted $0.43 EPS.

Other analysts have also recently issued reports about the stock. Citigroup boosted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. StockNews.com lowered shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 29th. The Goldman Sachs Group raised their target price on shares of Huntington Bancshares from $12.50 to $14.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Morgan Stanley upped their price target on shares of Huntington Bancshares from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Finally, UBS Group upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $15.00 in a research note on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.72.

Huntington Bancshares Trading Up 1.2 %

Shares of Huntington Bancshares stock opened at $13.95 on Friday. The firm has a market cap of $20.23 billion, a PE ratio of 11.25 and a beta of 1.09. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.73. Huntington Bancshares has a fifty-two week low of $9.13 and a fifty-two week high of $13.97. The business’s fifty day moving average is $13.01 and its two-hundred day moving average is $11.79.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of HBAN. American Century Companies Inc. grew its stake in shares of Huntington Bancshares by 11.8% in the first quarter. American Century Companies Inc. now owns 189,174 shares of the bank’s stock worth $2,765,000 after purchasing an additional 19,959 shares in the last quarter. D.A. Davidson & CO. acquired a new position in Huntington Bancshares during the 1st quarter valued at about $315,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Huntington Bancshares by 309.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,001 shares of the bank’s stock worth $146,000 after acquiring an additional 7,558 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Huntington Bancshares by 40.9% in the first quarter. Panagora Asset Management Inc. now owns 104,361 shares of the bank’s stock valued at $1,526,000 after acquiring an additional 30,296 shares in the last quarter. Finally, Aviva PLC increased its stake in shares of Huntington Bancshares by 58.2% during the first quarter. Aviva PLC now owns 798,754 shares of the bank’s stock valued at $11,678,000 after acquiring an additional 293,944 shares during the period. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

In other news, Director Ann B. Crane sold 58,000 shares of the firm’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 directly owns 192,247 shares in the company, valued at approximately $2,603,024.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Helga Houston sold 28,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total transaction of $377,979.00. Following the completion of the transaction, the insider now owns 568,222 shares in the company, valued at approximately $7,483,483.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann B. Crane sold 58,000 shares of the firm’s 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 completion of the sale, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold 102,241 shares of company stock worth $1,360,359 over the last ninety days. 0.89% of the stock is owned by insiders.

Huntington Bancshares Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be issued a $0.155 dividend. The ex-dividend date is Friday, March 15th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.44%. Huntington Bancshares’s dividend payout ratio (DPR) is 50.00%.

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.