Q2 2024 EPS Estimates for Huntington Bancshares Incorporated (NASDAQ:HBAN) Reduced by Analyst

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Research analysts at DA Davidson dropped their Q2 2024 earnings per share (EPS) estimates for Huntington Bancshares in a research report issued on Thursday, June 27th. DA Davidson analyst P. Winter now forecasts that the bank will earn $0.27 per share for the quarter, down from their previous forecast of $0.28. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.19 per share.

Several other analysts have also issued reports on the company. Piper Sandler lowered Huntington Bancshares from a “neutral” rating to an “underweight” rating and cut their target price for the stock from $13.50 to $11.50 in a research note on Friday, June 14th. UBS Group cut their target price on Huntington Bancshares from $16.00 to $15.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Bank of America raised Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their target price for the stock from $14.00 to $16.00 in a research note on Monday, April 8th. JPMorgan Chase & Co. dropped their price objective on Huntington Bancshares from $17.00 to $16.50 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $15.00 price objective on shares of Huntington Bancshares in a research note on Tuesday, June 11th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.03.

Huntington Bancshares Stock Up 0.4 %

HBAN stock opened at $13.21 on Monday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.88. The company’s 50 day moving average is $13.40 and its 200 day moving average is $13.16. The stock has a market cap of $19.14 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 2.49 and a beta of 1.06. Huntington Bancshares has a 1-year low of $9.25 and a 1-year high of $14.30.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the prior year, the business posted $0.38 earnings per share.

Huntington Bancshares Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Stockholders of record on Monday, June 17th were issued a dividend of $0.155 per share. The ex-dividend date was Monday, June 17th. This represents a $0.62 annualized dividend and a dividend yield of 4.69%. Huntington Bancshares’s payout ratio is presently 55.86%.

Insider Activity

In related news, VP Brantley J. Standridge sold 50,000 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total transaction of $680,000.00. Following the sale, the vice president now directly owns 385,409 shares of the company’s stock, valued at $5,241,562.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Huntington Bancshares news, VP Brantley J. Standridge sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $13.60, for a total value of $680,000.00. Following the transaction, the vice president now directly owns 385,409 shares of the company’s stock, valued at $5,241,562.40. 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 firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $13.64, for a total value of $99,271.92. Following the completion of the transaction, the insider now directly owns 648,904 shares in the company, valued at $8,851,050.56. The disclosure for this sale can be found here. Insiders sold 157,829 shares of company stock worth $2,148,623 over the last three months. 0.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HBAN. Boston Partners increased its stake in Huntington Bancshares by 59.3% in the 4th quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after acquiring an additional 17,365,446 shares during the last quarter. Norges Bank purchased a new position in Huntington Bancshares during the 4th quarter valued at $206,703,000. KBC Group NV boosted its holdings in Huntington Bancshares by 715.0% during the 4th quarter. KBC Group NV now owns 4,251,631 shares of the bank’s stock valued at $54,081,000 after acquiring an additional 3,729,974 shares during the period. National Bank of Canada FI boosted its holdings in Huntington Bancshares by 832.7% during 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 acquiring an additional 2,979,768 shares during the period. Finally, Scout Investments Inc. purchased a new position in Huntington Bancshares during the 1st quarter valued at $35,428,000. 80.72% of the stock is owned by hedge funds and other institutional investors.

About Huntington Bancshares

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.