Huntington Bancshares Incorporated (NASDAQ:HBAN) Forecasted to Post Q3 2024 Earnings of $0.31 Per Share

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities researchers at Wedbush decreased their Q3 2024 earnings estimates for shares of Huntington Bancshares in a research report issued to clients and investors on Monday, June 24th. Wedbush analyst D. Chiaverini now anticipates that the bank will earn $0.31 per share for the quarter, down from their previous forecast of $0.34. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.20 per share. Wedbush also issued estimates for Huntington Bancshares’ Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.20 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.36 EPS, Q4 2025 earnings at $0.38 EPS and FY2025 earnings at $1.40 EPS.

Huntington Bancshares (NASDAQ:HBAN) last issued its earnings results on Friday, April 19th. The bank reported $0.28 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business earned $0.38 earnings per share.

Several other research analysts also recently commented on the company. JPMorgan Chase & Co. reduced their target price on Huntington Bancshares from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. DA Davidson upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $14.00 to $15.50 in a research report on Tuesday, February 27th. UBS Group reduced their price target on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. Evercore ISI dropped their price objective on shares of Huntington Bancshares from $16.50 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, Morgan Stanley cut their target price on Huntington Bancshares from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.07.

Huntington Bancshares Stock Performance

Huntington Bancshares stock opened at $12.75 on Wednesday. The firm has a market capitalization of $18.48 billion, a P/E ratio of 11.49, a P/E/G ratio of 2.43 and a beta of 1.08. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a fifty day moving average price of $13.44 and a two-hundred day moving average price of $13.14. Huntington Bancshares has a 52-week low of $9.25 and a 52-week high of $14.30.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.62 annualized dividend and a yield of 4.86%. Huntington Bancshares’s dividend payout ratio is 55.86%.

Insiders Place Their Bets

In other news, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $13.64, for a total transaction of $99,271.92. Following the completion of the sale, the insider now owns 648,904 shares of the company’s stock, valued at approximately $8,851,050.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Kendall A. Kowalski sold 15,711 shares of Huntington Bancshares stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $13.84, for a total transaction of $217,440.24. Following the sale, the insider now directly owns 65,195 shares of the company’s stock, valued at approximately $902,298.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Helga Houston sold 7,278 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $13.64, for a total transaction of $99,271.92. Following the transaction, the insider now owns 648,904 shares of the company’s stock, valued at $8,851,050.56. The disclosure for this sale can be found here. Insiders have sold 157,829 shares of company stock worth $2,148,623 over the last ninety days. Corporate insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On Huntington Bancshares

Hedge funds have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue grew its stake in Huntington Bancshares by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 157,152 shares of the bank’s stock valued at $2,192,000 after acquiring an additional 780 shares during the period. Park Avenue Securities LLC raised its holdings 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 during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in shares of Huntington Bancshares by 6.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 13,261 shares of the bank’s stock valued at $185,000 after buying an additional 805 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in shares of Huntington Bancshares by 4.7% during the first quarter. Arkadios Wealth Advisors now owns 17,930 shares of the bank’s stock valued at $250,000 after buying an additional 811 shares during the last quarter. Finally, Mather Group LLC. increased its position in shares of Huntington Bancshares by 5.8% during the fourth quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock worth $196,000 after acquiring an additional 837 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

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.