DA Davidson Has Bullish Outlook for HBAN FY2024 Earnings

Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) - Equities researchers at DA Davidson upped their FY2024 EPS estimates for shares of Huntington Bancshares in a research note issued on Monday, November 11th. DA Davidson analyst P. Winter now forecasts that the bank will post earnings of $1.23 per share for the year, up from their previous forecast of $1.22. DA Davidson has a "Buy" rating and a $17.50 price objective 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.

HBAN has been the subject of a number of other reports. StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Friday, October 18th. Piper Sandler increased their price target on Huntington Bancshares from $14.00 to $15.00 and gave the company an "underweight" rating in a research note on Friday, October 18th. Sandler O'Neill reiterated a "buy" rating on shares of Huntington Bancshares in a report on Friday, October 18th. Bank of America boosted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company a "buy" rating in a report on Monday, July 22nd. Finally, Citigroup raised their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $16.09.

Huntington Bancshares Price Performance

Shares of NASDAQ:HBAN traded down $0.18 during trading on Tuesday, hitting $17.57. 5,815,744 shares of the stock were exchanged, compared to its average volume of 16,094,891. The company has a fifty day moving average price of $15.15 and a two-hundred day moving average price of $14.22. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.86. The company has a market cap of $25.53 billion, a PE ratio of 17.07, a P/E/G ratio of 3.51 and a beta of 1.03. Huntington Bancshares has a 12-month low of $10.10 and a 12-month high of $17.85.

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

Huntington Bancshares Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 18th will be issued a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.53%. 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 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 in the company, valued at $8,615,217.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.89% of the company's stock.

Institutional Trading of Huntington Bancshares

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC lifted its position in Huntington Bancshares by 28.6% in the first quarter. Empowered Funds LLC now owns 19,242 shares of the bank's stock valued at $268,000 after purchasing an additional 4,277 shares during the last quarter. SG Americas Securities LLC boosted its position in Huntington Bancshares by 112.0% during the 1st quarter. SG Americas Securities LLC now owns 182,359 shares of the bank's stock valued at $2,544,000 after buying an additional 96,350 shares during the period. Oppenheimer & Co. Inc. grew its holdings in Huntington Bancshares by 9.2% in the 1st quarter. Oppenheimer & Co. Inc. now owns 13,366 shares of the bank's stock worth $186,000 after acquiring an additional 1,125 shares during the last quarter. NorthRock Partners LLC increased its position in shares of Huntington Bancshares by 26.5% in the first quarter. NorthRock Partners LLC now owns 17,674 shares of the bank's stock valued at $247,000 after acquiring an additional 3,704 shares during the period. Finally, Meeder Advisory Services Inc. raised its stake in shares of Huntington Bancshares by 6.4% during the first quarter. Meeder Advisory Services Inc. now owns 35,628 shares of the bank's stock valued at $497,000 after acquiring an additional 2,136 shares during 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.