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

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Investment analysts at DA Davidson increased their FY2024 earnings per share (EPS) estimates for Huntington Bancshares in a research note issued on Monday, November 11th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings of $1.23 per share for the year, up from their prior forecast of $1.22. 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 $0.31 EPS.

Huntington Bancshares (NASDAQ:HBAN) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company posted $0.36 EPS.

HBAN has been the topic of a number of other research reports. Robert W. Baird downgraded Huntington Bancshares from an “outperform” rating to a “neutral” rating and set a $15.00 price target on the stock. in a research note on Friday, July 26th. Bank of America raised their target price on Huntington Bancshares from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Citigroup boosted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Evercore ISI increased their price target on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Baird R W cut shares of Huntington Bancshares from a “strong-buy” rating to a “hold” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.09.

Huntington Bancshares Trading Down 0.6 %

Shares of NASDAQ HBAN opened at $17.64 on Tuesday. Huntington Bancshares has a fifty-two week low of $10.10 and a fifty-two week high of $17.85. The firm has a market capitalization of $25.63 billion, a P/E ratio of 16.96, a P/E/G ratio of 3.51 and a beta of 1.03. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. The company’s 50 day simple moving average is $15.20 and its 200 day simple moving average is $14.25.

Huntington Bancshares Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 3.51%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares’s payout ratio is 59.62%.

Insiders Place Their Bets

In other news, insider Helga Houston sold 6,455 shares of Huntington Bancshares stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $15.43, for a total value of $99,600.65. Following the sale, the insider now directly owns 558,342 shares in the company, valued at $8,615,217.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.89% of the company’s stock.

Hedge Funds Weigh In On Huntington Bancshares

A number of large investors have recently modified their holdings of the business. Boston Partners boosted its position in Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after purchasing an additional 9,533,511 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Huntington Bancshares by 832.7% in the 1st quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank’s stock valued at $46,927,000 after buying an additional 2,979,768 shares during the last quarter. Scout Investments Inc. acquired a new stake in shares of Huntington Bancshares in the 1st quarter valued at approximately $35,428,000. Victory Capital Management Inc. grew its stake in shares of Huntington Bancshares by 13.2% in the third quarter. Victory Capital Management Inc. now owns 20,318,486 shares of the bank’s stock valued at $298,682,000 after buying an additional 2,363,988 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Huntington Bancshares by 194.8% during the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank’s stock worth $42,226,000 after buying an additional 2,116,839 shares during 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.