What is DA Davidson’s Estimate for HBAN FY2024 Earnings?

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Investment analysts at DA Davidson lifted their FY2024 EPS estimates for Huntington Bancshares in a research note issued on Thursday, December 12th. DA Davidson analyst P. Winter now expects that the bank will post earnings of $1.24 per share for the year, up from their previous forecast of $1.23. DA Davidson currently has a “Buy” rating and a $17.50 target price on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.21 per share. DA Davidson also issued estimates for Huntington Bancshares’ Q4 2024 earnings at $0.32 EPS and FY2025 earnings at $1.40 EPS.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the firm posted $0.36 EPS.

Several other equities research analysts also recently weighed in on the stock. Sandler O’Neill reissued a “buy” rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Keefe, Bruyette & Woods upped their price objective on Huntington Bancshares from $16.00 to $19.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Piper Sandler upped their price target on shares of Huntington Bancshares from $15.00 to $17.50 and gave the stock an “underweight” rating in a report on Tuesday, December 3rd. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $20.00 price target (up previously from $18.50) on shares of Huntington Bancshares in a research note on Wednesday, December 4th. Finally, StockNews.com raised Huntington Bancshares from a “sell” rating to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.41.

Huntington Bancshares Stock Performance

HBAN opened at $17.17 on Friday. The firm has a market cap of $24.94 billion, a P/E ratio of 16.51, a P/E/G ratio of 3.47 and a beta of 1.06. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average of $16.65 and a 200 day moving average of $14.85. Huntington Bancshares has a 12 month low of $12.02 and a 12 month high of $18.44.

Huntington Bancshares Announces Dividend

The business 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. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 3.61%. Huntington Bancshares’s payout ratio is 59.62%.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares of the company’s stock, valued at $8,615,217.06. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Scott D. Kleinman sold 28,600 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,699 shares of company stock valued at $757,356. 0.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently modified their holdings of HBAN. Asset Dedication LLC lifted its holdings in shares of Huntington Bancshares by 200.7% during the third quarter. Asset Dedication LLC now owns 1,801 shares of the bank’s stock worth $26,000 after purchasing an additional 1,202 shares during the period. Peoples Bank KS bought a new position in Huntington Bancshares during the third quarter worth $29,000. Hazlett Burt & Watson Inc. increased its stake in Huntington Bancshares by 695.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 2,291 shares of the bank’s stock valued at $30,000 after purchasing an additional 2,003 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Huntington Bancshares during the 3rd quarter worth about $31,000. Finally, Fortitude Family Office LLC bought a new stake in Huntington Bancshares in the 3rd quarter valued at about $32,000. Institutional investors own 80.72% of the company’s stock.

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.