Analysts Offer Predictions for Huntington Bancshares Incorporated’s Q2 2024 Earnings (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Investment analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of Huntington Bancshares in a note issued to investors on Monday, April 22nd. DA Davidson analyst P. Winter expects that the bank will post earnings per share of $0.28 for the quarter. 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.

Several other equities analysts have also recently weighed in on HBAN. Morgan Stanley reaffirmed an “overweight” rating and set a $16.00 target price on shares of Huntington Bancshares in a research note on Monday. Stephens reaffirmed an “equal weight” rating and set a $15.00 target price on shares of Huntington Bancshares in a research note on Monday. Barclays raised shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $12.00 to $15.00 in a research note on Tuesday, January 2nd. Jefferies Financial Group raised shares of Huntington Bancshares from a “hold” 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. Finally, 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. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Huntington Bancshares Stock Up 1.0 %

Shares of HBAN stock opened at $13.76 on Tuesday. The company has a market capitalization of $19.95 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 2.50 and a beta of 1.11. Huntington Bancshares has a one year low of $9.13 and a one year high of $14.07. The company’s fifty day moving average price is $13.33 and its 200-day moving average price is $12.22. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88.

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

Huntington Bancshares Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.51%. Huntington Bancshares’s payout ratio is currently 55.86%.

Insider Buying and Selling

In related news, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the completion of the transaction, the director now directly owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the transaction, the vice president now directly 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 is available through the SEC website. Also, Director Ann B. Crane sold 58,000 shares of Huntington Bancshares stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,241 shares of company stock valued at $1,360,359. Company insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new stake in Huntington Bancshares during the 1st quarter valued at about $29,000. Wetzel Investment Advisors Inc. bought a new stake in Huntington Bancshares during the 4th quarter valued at about $29,000. Nemes Rush Group LLC lifted its holdings in Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock valued at $30,000 after buying an additional 1,391 shares in the last quarter. Planned Solutions Inc. bought a new stake in shares of Huntington Bancshares in the 4th quarter valued at about $33,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Huntington Bancshares in the 1st quarter valued at about $40,000. Institutional investors own 80.72% of the company’s stock.

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.