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

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at DA Davidson lifted their FY2024 earnings per share (EPS) estimates for Huntington Bancshares in a note issued to investors on Thursday, December 12th. DA Davidson analyst P. Winter now anticipates that the bank will post earnings of $1.24 per share for the year, up from their previous forecast of $1.23. DA Davidson currently has a “Buy” rating and a $17.50 price target 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 $0.32 EPS and FY2025 earnings at $1.40 EPS.

Several other research firms also recently weighed in on HBAN. Evercore ISI lifted their target price on Huntington Bancshares from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of Huntington Bancshares in a research report on Thursday. Piper Sandler lifted their target price on Huntington Bancshares from $15.00 to $17.50 and gave the company an “underweight” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $20.00 target price (up from $18.50) on shares of Huntington Bancshares in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group lifted their target price on Huntington Bancshares from $16.25 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.41.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $17.17 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.88 and a quick ratio of 0.87. Huntington Bancshares has a one year low of $12.02 and a one year high of $18.44. The firm has a market capitalization of $24.94 billion, a P/E ratio of 16.51, a PEG ratio of 3.47 and a beta of 1.06. The business has a fifty day moving average of $16.65 and a 200 day moving average of $14.85.

Huntington Bancshares (NASDAQ:HBAN) last issued its quarterly earnings data on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a return on equity of 10.72% and a net margin of 14.19%. The company had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the company posted $0.36 earnings per share.

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be paid a dividend of $0.155 per share. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 annualized dividend and a yield of 3.61%. Huntington Bancshares’s payout ratio is currently 59.62%.

Insiders Place Their Bets

In other Huntington Bancshares news, insider Helga Houston sold 6,455 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total transaction of $99,600.65. Following the sale, the insider now directly owns 558,342 shares of the company’s stock, valued at $8,615,217.06. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 8,644 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $17.63, for a total value of $152,393.72. Following the sale, the chief financial officer now directly owns 259,943 shares in the company, valued at $4,582,795.09. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,699 shares of company stock valued at $757,356 over the last ninety days. 0.89% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Arvest Bank Trust Division bought a new position in Huntington Bancshares in the third quarter worth approximately $2,381,000. Heritage Wealth Management Inc. bought a new position in Huntington Bancshares in the second quarter worth approximately $744,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Huntington Bancshares by 5.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 844,466 shares of the bank’s stock worth $12,414,000 after purchasing an additional 44,662 shares in the last quarter. Petiole USA ltd bought a new position in Huntington Bancshares in the third quarter worth approximately $3,454,000. Finally, Robeco Institutional Asset Management B.V. grew its stake in Huntington Bancshares by 40.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 192,984 shares of the bank’s stock worth $2,837,000 after purchasing an additional 55,865 shares in the last quarter. 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.