DA Davidson Weighs in on Huntington Bancshares Incorporated’s FY2024 Earnings (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Research analysts at DA Davidson boosted their FY2024 EPS estimates for shares of Huntington Bancshares in a research report issued on Monday, July 22nd. DA Davidson analyst P. Winter now expects that the bank will earn $1.23 per share for the year, up from their previous forecast of $1.15. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.19 per share. DA Davidson also issued estimates for Huntington Bancshares’ FY2025 earnings at $1.44 EPS.

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

Several other equities research analysts also recently weighed in on the stock. UBS Group lowered their target price on shares of Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Jefferies Financial Group decreased their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Bank of America upped their price objective on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada lifted their target price on shares of Huntington Bancshares from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Monday. Finally, Stephens reaffirmed an “equal weight” rating and issued a $15.00 price target on shares of Huntington Bancshares in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.50.

Huntington Bancshares Stock Performance

Shares of Huntington Bancshares stock opened at $15.06 on Wednesday. Huntington Bancshares has a one year low of $9.25 and a one year high of $15.24. The company has a market capitalization of $21.83 billion, a PE ratio of 13.57, a P/E/G ratio of 3.08 and a beta of 1.06. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. The company has a 50-day simple moving average of $13.43 and a two-hundred day simple moving average of $13.29.

Huntington Bancshares Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.155 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.62 annualized dividend and a yield of 4.12%. Huntington Bancshares’s dividend payout ratio (DPR) is presently 55.86%.

Insider Transactions at Huntington Bancshares

In related 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 transaction of $871,685.55. Following the completion of the sale, the vice president now 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 SEC, which can be accessed through this hyperlink. In related news, CFO Zachary Jacob Wasserman sold 33,000 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief financial officer now directly owns 265,809 shares of the company’s stock, valued at approximately $4,021,690.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $871,685.55. Following the completion of the transaction, the vice president now directly owns 69,595 shares in the company, valued at approximately $1,054,364.25. The disclosure for this sale can be found here. Insiders sold 152,418 shares of company stock valued at $2,214,979 over the last 90 days. 0.89% of the stock is currently owned by corporate insiders.

Institutional Trading of Huntington Bancshares

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in Huntington Bancshares in the 1st quarter valued at approximately $29,000. YHB Investment Advisors Inc. purchased a new position in Huntington Bancshares in the first quarter valued at $30,000. Wetzel Investment Advisors Inc. acquired a new position in Huntington Bancshares during the 4th quarter worth $29,000. Nemes Rush Group LLC increased its holdings in Huntington Bancshares by 140.9% during the 4th quarter. Nemes Rush Group LLC now owns 2,378 shares of the bank’s stock worth $30,000 after purchasing an additional 1,391 shares during the period. Finally, Planned Solutions Inc. acquired a new stake in Huntington Bancshares in the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 80.72% of the company’s stock.

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.