Brokers Issue Forecasts for Huntington Bancshares Incorporated’s Q3 2024 Earnings (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at Wedbush cut their Q3 2024 earnings per share (EPS) estimates for shares of Huntington Bancshares in a report issued on Tuesday, September 24th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.30 per share for the quarter, down from their prior forecast of $0.32. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.19 per share. Wedbush also issued estimates for Huntington Bancshares’ Q4 2024 earnings at $0.33 EPS and FY2024 earnings at $1.21 EPS.

A number of other analysts have also recently weighed in on the stock. Argus increased their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Bank of America increased their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods decreased their target price on Huntington Bancshares from $15.00 to $14.50 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lowered their target price on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a report on Thursday, June 27th. Finally, Evercore ISI cut their price target on Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $15.59.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $14.64 on Thursday. The stock has a market capitalization of $21.26 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 3.07 and a beta of 1.05. The business’s fifty day moving average price is $14.39 and its 200 day moving average price is $13.77. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.89 and a quick ratio of 0.88. Huntington Bancshares has a 12-month low of $9.25 and a 12-month high of $15.24.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings data on Friday, July 19th. The bank reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.02. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the prior year, the firm posted $0.35 EPS.

Institutional Trading of Huntington Bancshares

A number of large investors have recently added to or reduced their stakes in HBAN. Boston Partners increased its stake in Huntington Bancshares by 20.4% in the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock worth $783,215,000 after purchasing an additional 9,533,511 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Huntington Bancshares by 0.4% in the second quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock worth $236,640,000 after acquiring an additional 65,355 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Huntington Bancshares by 3.7% during the second quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after acquiring an additional 561,565 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Huntington Bancshares by 39.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,534,897 shares of the bank’s stock valued at $83,124,000 after acquiring an additional 1,838,019 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Huntington Bancshares by 9.5% in the 2nd quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock worth $85,940,000 after purchasing an additional 566,015 shares during the period. 80.72% of the stock is currently owned by institutional investors.

Insider Transactions at Huntington Bancshares

In related 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 owns 11,111 shares in the company, valued at $167,331.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Huntington Bancshares news, VP Nancy E. Maloney sold 57,537 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $15.15, for a total value of $871,685.55. Following the completion of the sale, the vice president now directly owns 69,595 shares of the company’s stock, valued at approximately $1,054,364.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brendan A. Lawlor sold 9,050 shares of Huntington Bancshares stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $15.06, for a total transaction of $136,293.00. Following the completion of the transaction, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. The disclosure for this sale can be found here. In the last three months, insiders sold 116,622 shares of company stock valued at $1,762,904. Company insiders own 0.89% of the company’s stock.

Huntington Bancshares Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.23%. Huntington Bancshares’s dividend payout ratio (DPR) 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.