DA Davidson Research Analysts Boost Earnings Estimates for Huntington Bancshares Incorporated (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at DA Davidson upped their FY2024 earnings per share estimates for shares of Huntington Bancshares in a research report issued to clients and investors on Monday, April 22nd. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $1.21 for the year, up from their previous estimate of $1.20. DA Davidson currently has a “Buy” rating and a $15.50 target price 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.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.85 billion during the quarter, compared to analyst estimates of $1.74 billion. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. During the same period last year, the company earned $0.38 earnings per share.

Several other research analysts have also issued reports on the stock. Bank of America raised shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and raised their target price for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Keefe, Bruyette & Woods raised their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “market perform” rating in a research note on Friday, April 5th. Royal Bank of Canada raised their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, April 9th. Evercore ISI raised their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. raised their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Huntington Bancshares has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Huntington Bancshares Stock Down 1.3 %

Shares of NASDAQ HBAN opened at $13.58 on Wednesday. The firm has a market capitalization of $19.69 billion, a PE ratio of 12.23, a price-to-earnings-growth ratio of 2.51 and a beta of 1.11. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. Huntington Bancshares has a 1 year low of $9.13 and a 1 year high of $14.07. The firm’s 50-day moving average is $13.35 and its 200-day moving average is $12.23.

Hedge Funds Weigh In On Huntington Bancshares

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wetzel Investment Advisors Inc. bought a new position in Huntington Bancshares during the fourth quarter worth $29,000. Future Financial Wealth Managment LLC bought a new position in Huntington Bancshares during the first quarter worth $29,000. Nemes Rush Group LLC boosted its position in Huntington Bancshares by 140.9% during the fourth quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after purchasing an additional 1,391 shares during the period. Planned Solutions Inc. bought a new stake in shares of Huntington Bancshares in the fourth quarter valued at about $33,000. Finally, Authentikos Wealth Advisory LLC bought a new stake in shares of Huntington Bancshares in the third quarter valued at about $35,000. 80.72% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction that occurred 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 sale, the director now directly 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 the SEC website. In other news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction that occurred 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 sale, the director now directly 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 the SEC website. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.66, for a total transaction of $409,800.00. Following the completion of the sale, the chief financial officer now owns 305,884 shares in the company, valued at $4,178,375.44. The disclosure for this sale can be found here. Insiders have sold 198,189 shares of company stock worth $2,664,978 over the last ninety days. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a $0.155 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.57%. Huntington Bancshares’s dividend payout ratio (DPR) 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.