DA Davidson Has Positive Forecast for HBAN FY2024 Earnings

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Stock analysts at DA Davidson raised their FY2024 earnings per share estimates for Huntington Bancshares in a report released on Tuesday, October 22nd. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $1.22 for the year, up from their previous forecast of $1.21. DA Davidson has a “Buy” rating and a $17.50 price target on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.18 per share.

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

A number of other equities analysts have also recently issued reports on the company. Barclays upped their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Robert W. Baird cut shares of Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price objective on the stock. in a research note on Friday, July 26th. Argus raised their target price on Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America boosted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Morgan Stanley increased their price objective on shares of Huntington Bancshares from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.03.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $15.38 on Thursday. The company’s 50 day moving average price is $14.75 and its two-hundred day moving average price is $13.99. The firm has a market capitalization of $22.29 billion, a P/E ratio of 13.86, a P/E/G ratio of 2.77 and a beta of 1.04. Huntington Bancshares has a fifty-two week low of $9.35 and a fifty-two week high of $16.03. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88.

Institutional Investors Weigh In On Huntington Bancshares

Several institutional investors have recently made changes to their positions in HBAN. Wellington Management Group LLP grew its position in shares of Huntington Bancshares by 64.2% during the 4th quarter. Wellington Management Group LLP now owns 304,829 shares of the bank’s stock valued at $3,877,000 after purchasing an additional 119,178 shares in the last quarter. Park Avenue Securities LLC grew its position in Huntington Bancshares by 1.3% during the first quarter. Park Avenue Securities LLC now owns 63,098 shares of the bank’s stock worth $880,000 after buying an additional 794 shares in the last quarter. Ballentine Partners LLC increased its stake in Huntington Bancshares by 16.0% in the 1st quarter. Ballentine Partners LLC now owns 17,940 shares of the bank’s stock worth $250,000 after acquiring an additional 2,475 shares during the last quarter. Brookstone Capital Management purchased a new stake in shares of Huntington Bancshares in the 1st quarter valued at about $9,712,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Huntington Bancshares during the 1st quarter valued at about $29,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, insider Helga Houston sold 11,288 shares of Huntington Bancshares stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.02, for a total transaction of $169,545.76. Following the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Helga Houston sold 11,288 shares of Huntington Bancshares stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.02, for a total transaction of $169,545.76. Following the completion of the transaction, the insider now owns 618,832 shares of the company’s stock, valued at $9,294,856.64. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,793 shares of company stock valued at $405,439 over the last 90 days. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Wednesday, December 18th. Huntington Bancshares’s payout ratio is presently 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.