Huntington Bancshares Incorporated to Post Q3 2024 Earnings of $0.34 Per Share, Wedbush Forecasts (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Investment analysts at Wedbush lifted their Q3 2024 earnings per share (EPS) estimates for shares of Huntington Bancshares in a report released on Wednesday, March 27th. Wedbush analyst D. Chiaverini now anticipates that the bank will post earnings per share of $0.34 for the quarter, up from their previous 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 released its quarterly earnings data on Friday, January 19th. The bank reported $0.27 EPS for the quarter, topping the consensus estimate of $0.12 by $0.15. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm posted $0.43 EPS.

A number of other equities research analysts have also recently commented on HBAN. Morgan Stanley raised their target price on Huntington Bancshares from $13.00 to $16.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Evercore ISI increased their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group upped their price objective on shares of Huntington Bancshares from $12.50 to $14.00 and gave the stock a “buy” rating in a research report on Monday, December 18th. Citigroup lifted their target price on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. Finally, StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.72.

Huntington Bancshares Stock Up 1.2 %

HBAN opened at $13.95 on Friday. The company has a fifty day moving average of $13.01 and a two-hundred day moving average of $11.79. The stock has a market capitalization of $20.23 billion, a price-to-earnings ratio of 11.25 and a beta of 1.09. Huntington Bancshares has a fifty-two week low of $9.13 and a fifty-two week high of $13.97. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.87.

Huntington Bancshares Announces Dividend

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

Insider Activity

In other news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the sale, the vice president now owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the sale, the vice president now directly owns 303,455 shares in the company, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction, the insider now directly owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. Insiders sold a total of 102,241 shares of company stock valued at $1,360,359 in the last 90 days. Company insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of HBAN. Vanguard Group Inc. boosted its stake in shares of Huntington Bancshares by 0.7% in the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock valued at $1,789,520,000 after purchasing an additional 1,209,264 shares during the period. BlackRock Inc. lifted its holdings in Huntington Bancshares by 0.5% during the 1st quarter. BlackRock Inc. now owns 137,586,195 shares of the bank’s stock worth $1,540,965,000 after buying an additional 652,310 shares in the last quarter. Boston Partners grew its stake in shares of Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after acquiring an additional 17,365,446 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Huntington Bancshares by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock worth $468,725,000 after acquiring an additional 245,025 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Huntington Bancshares by 5.0% in the first quarter. Geode Capital Management LLC now owns 31,820,975 shares of the bank’s stock valued at $355,630,000 after purchasing an additional 1,516,892 shares during the period. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

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.