Analysts Offer Predictions for Huntington Bancshares Incorporated’s Q2 2024 Earnings (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for Huntington Bancshares in a research note issued on Monday, April 22nd. DA Davidson analyst P. Winter forecasts that the bank will post earnings of $0.28 per share for the quarter. DA Davidson has a “Buy” rating and a $15.50 price objective on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.22 per share.

Huntington Bancshares (NASDAQ:HBAN) last released its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The firm had revenue of $2.85 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the business posted $0.38 EPS.

Other analysts also recently issued research reports about the company. Citigroup lifted their price target on Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $16.00 in a research note on Monday, April 8th. Barclays raised Huntington Bancshares from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $12.00 to $15.00 in a research report on Tuesday, January 2nd. Evercore ISI lifted their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. lifted their target price on Huntington Bancshares from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $15.17.

Huntington Bancshares Stock Performance

HBAN opened at $13.76 on Tuesday. The business’s 50-day moving average price is $13.33 and its two-hundred day moving average price is $12.22. Huntington Bancshares has a 1 year low of $9.13 and a 1 year high of $14.07. The company has a market capitalization of $19.95 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 2.50 and a beta of 1.11. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 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. International Assets Investment Management LLC bought a new stake in shares of Huntington Bancshares in the third quarter valued at approximately $381,000. Ronald Blue Trust Inc. boosted its stake in shares of Huntington Bancshares by 27.9% in the third quarter. Ronald Blue Trust Inc. now owns 7,556 shares of the bank’s stock valued at $81,000 after buying an additional 1,646 shares during the period. DnB Asset Management AS boosted its stake in shares of Huntington Bancshares by 11.6% in the third quarter. DnB Asset Management AS now owns 312,108 shares of the bank’s stock valued at $3,246,000 after buying an additional 32,446 shares during the period. SG Americas Securities LLC boosted its stake in shares of Huntington Bancshares by 208.2% in the third quarter. SG Americas Securities LLC now owns 72,404 shares of the bank’s stock valued at $753,000 after buying an additional 48,913 shares during the period. Finally, DAVENPORT & Co LLC raised its position in Huntington Bancshares by 5.9% during the third quarter. DAVENPORT & Co LLC now owns 252,970 shares of the bank’s stock valued at $2,631,000 after purchasing an additional 14,146 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors.

Insider Transactions at Huntington Bancshares

In other news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Julie C. Tutkovics sold 15,541 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the sale, the vice president now owns 303,455 shares in the company, valued at $3,847,809.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Helga Houston sold 28,700 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $13.17, for a total value of $377,979.00. Following the sale, the insider now owns 568,222 shares of the company’s stock, valued at approximately $7,483,483.74. The disclosure for this sale can be found here. Insiders sold a total of 102,241 shares of company stock worth $1,360,359 over the last quarter. Company insiders own 0.92% of the company’s stock.

Huntington Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.51%. The ex-dividend date is Friday, June 14th. Huntington Bancshares’s dividend payout ratio is presently 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.