DA Davidson Weighs in on Huntington Bancshares Incorporated’s Q2 2024 Earnings (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Research analysts at DA Davidson lowered their Q2 2024 earnings estimates for shares of Huntington Bancshares in a report released on Thursday, June 27th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings per share of $0.27 for the quarter, down from their previous forecast of $0.28. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.19 per share.

Other equities research analysts also recently issued reports about the stock. Piper Sandler downgraded shares of Huntington Bancshares from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $13.50 to $11.50 in a research note on Friday, June 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $16.00 target price on shares of Huntington Bancshares in a research note on Tuesday, June 11th. JPMorgan Chase & Co. dropped their price target on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Stephens restated an “equal weight” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research report on Monday, April 22nd. Finally, UBS Group dropped their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Thursday, June 13th. 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.03.

Huntington Bancshares Price Performance

Shares of HBAN stock opened at $13.16 on Monday. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $14.30. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.88. The business has a fifty day simple moving average of $13.41 and a 200 day simple moving average of $13.16. The company has a market cap of $19.07 billion, a P/E ratio of 11.86, a P/E/G ratio of 2.49 and a beta of 1.06.

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 business had revenue of $2.85 billion during 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 in the previous year, the business earned $0.38 earnings per share.

Hedge Funds Weigh In On Huntington Bancshares

Several large investors have recently added to or reduced their stakes in HBAN. Wetzel Investment Advisors Inc. purchased a new stake in shares of Huntington Bancshares in the fourth quarter worth approximately $29,000. Future Financial Wealth Managment LLC bought a new position in Huntington Bancshares during the 1st quarter valued at $29,000. Nemes Rush Group LLC boosted 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 worth $30,000 after acquiring an additional 1,391 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in shares of Huntington Bancshares in the 1st quarter worth $30,000. Finally, Planned Solutions Inc. purchased a new stake in shares of Huntington Bancshares in the fourth quarter valued at about $33,000. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of Huntington Bancshares stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the completion of the sale, the vice president now directly owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Brantley J. Standridge sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares in the company, valued at $5,241,562.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Zachary Jacob Wasserman sold 30,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.66, for a total value of $409,800.00. Following the completion of the transaction, 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. Over the last three months, insiders have sold 157,829 shares of company stock valued at $2,148,623. 0.92% of the stock is currently owned by company insiders.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were issued a $0.155 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.62 dividend on an annualized basis and a yield of 4.71%. Huntington Bancshares’s payout ratio is currently 55.86%.

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.