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

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at Wedbush reduced their Q3 2024 earnings estimates for Huntington Bancshares in a research report issued on Monday, June 24th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings per share of $0.31 for the quarter, down from their prior estimate of $0.34. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.20 per share. Wedbush also issued estimates for Huntington Bancshares’ Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.20 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.38 EPS and FY2025 earnings at $1.40 EPS.

Other analysts have also issued research reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $16.00 price objective on shares of Huntington Bancshares in a report on Tuesday, June 11th. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Wednesday, June 19th. UBS Group dropped their price objective on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $15.00 price target on shares of Huntington Bancshares in a research report on Tuesday, June 11th. Finally, Jefferies Financial Group upgraded Huntington Bancshares from a “hold” rating to a “buy” rating and upped their price objective for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $15.07.

Huntington Bancshares Trading Down 1.8 %

NASDAQ:HBAN opened at $12.75 on Wednesday. The company has a market cap of $18.48 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 2.43 and a beta of 1.08. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The company has a 50 day simple moving average of $13.44 and a two-hundred day simple moving average of $13.14. Huntington Bancshares has a 12 month low of $9.25 and a 12 month high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results 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 net margin of 15.86% and a return on equity of 11.99%. During the same period in the previous year, the business posted $0.38 earnings per share.

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. The ex-dividend date is Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.86%. Huntington Bancshares’s dividend payout ratio is currently 55.86%.

Insider Buying and Selling at Huntington Bancshares

In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the sale, the chief financial officer now owns 305,884 shares of the company’s stock, valued at $4,178,375.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Zachary Jacob Wasserman sold 30,000 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total transaction of $409,800.00. Following the transaction, the chief financial officer now directly owns 305,884 shares in the company, valued at approximately $4,178,375.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the sale, the vice president now owns 385,409 shares in the company, valued at approximately $5,241,562.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 157,829 shares of company stock valued at $2,148,623. 0.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in HBAN. Future Financial Wealth Managment LLC acquired a new stake in Huntington Bancshares during the 1st quarter worth about $29,000. YHB Investment Advisors Inc. acquired a new stake in shares of Huntington Bancshares during the first quarter worth about $30,000. Wetzel Investment Advisors Inc. acquired a new stake in shares of Huntington Bancshares during the fourth quarter worth about $29,000. Nemes Rush Group LLC boosted its position in Huntington Bancshares by 140.9% in the fourth 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 during the last quarter. Finally, Planned Solutions Inc. purchased a new position in Huntington Bancshares during the 4th quarter worth approximately $33,000. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.