Wedbush Research Analysts Reduce Earnings Estimates for HBAN

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Investment analysts at Wedbush dropped their Q4 2024 earnings per share (EPS) estimates for shares of Huntington Bancshares in a report issued on Thursday, October 17th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.30 per share for the quarter, down from their previous forecast of $0.33. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.18 per share. Wedbush also issued estimates for Huntington Bancshares’ Q1 2025 earnings at $0.30 EPS, Q2 2025 earnings at $0.32 EPS, Q3 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.34 EPS, FY2025 earnings at $1.30 EPS and FY2026 earnings at $1.40 EPS.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Huntington Bancshares had a return on equity of 11.34% and a net margin of 14.77%. During the same period in the prior year, the firm earned $0.36 EPS.

Several other research firms have also commented on HBAN. Robert W. Baird lowered Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective for the company. in a research note on Friday, July 26th. Baird R W lowered Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $17.00 price target on shares of Huntington Bancshares in a research note on Friday, October 18th. JPMorgan Chase & Co. cut 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. Finally, Morgan Stanley increased their price target on Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average target price of $16.03.

Huntington Bancshares Trading Up 1.8 %

NASDAQ:HBAN opened at $15.54 on Monday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. The firm has a market capitalization of $22.52 billion, a price-to-earnings ratio of 14.00, a price-to-earnings-growth ratio of 2.77 and a beta of 1.04. Huntington Bancshares has a one year low of $9.25 and a one year high of $16.03. The business has a fifty day moving average price of $14.60 and a 200-day moving average price of $13.95.

Hedge Funds Weigh In On Huntington Bancshares

Institutional investors have recently bought and sold shares of the business. Asset Dedication LLC increased its holdings in Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock valued at $26,000 after buying an additional 1,202 shares during the period. Peoples Bank KS acquired a new position in shares of Huntington Bancshares during the third quarter worth $29,000. Future Financial Wealth Managment LLC acquired a new position in shares of Huntington Bancshares during the first quarter worth $29,000. Hazlett Burt & Watson Inc. increased its position in shares of Huntington Bancshares by 695.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock worth $30,000 after purchasing an additional 2,003 shares in the last quarter. Finally, Register Financial Advisors LLC acquired a new position in shares of Huntington Bancshares during the first quarter worth $40,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 11,288 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.02, for a total value of $169,545.76. Following the completion of the sale, the insider now owns 618,832 shares of the company’s stock, valued at $9,294,856.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total transaction of $136,293.00. Following the transaction, the vice president now directly owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Helga Houston sold 11,288 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the transaction, the insider now directly owns 618,832 shares in the company, valued at approximately $9,294,856.64. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.89% of the stock is owned by insiders.

Huntington Bancshares Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 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.