Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) - Equities researchers at DA Davidson raised their FY2024 EPS estimates for shares of Huntington Bancshares in a note issued to investors on Thursday, December 12th. DA Davidson analyst P. Winter now forecasts that the bank will earn $1.24 per share for the year, up from their prior forecast of $1.23. 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 $0.32 EPS and FY2025 earnings at $1.40 EPS.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion during the quarter, compared to analyst estimates of $1.86 billion. Huntington Bancshares had a net margin of 14.19% and a return on equity of 10.72%. During the same period last year, the business earned $0.36 earnings per share.
A number of other analysts have also weighed in on HBAN. Sandler O'Neill restated a "buy" rating on shares of Huntington Bancshares in a research note on Friday, October 18th. Evercore ISI upped their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. StockNews.com raised Huntington Bancshares from a "sell" rating to a "hold" rating in a report on Thursday. Citigroup upped their price target on Huntington Bancshares from $18.00 to $21.00 and gave the company a "buy" rating in a report on Tuesday, November 19th. Finally, Barclays lifted their price objective on Huntington Bancshares from $15.00 to $17.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.41.
Check Out Our Latest Analysis on Huntington Bancshares
Huntington Bancshares Price Performance
Shares of NASDAQ HBAN remained flat at $17.17 during trading on Friday. The stock had a trading volume of 12,838,127 shares, compared to its average volume of 15,809,455. The business's 50-day moving average is $16.65 and its 200-day moving average is $14.85. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market cap of $24.94 billion, a PE ratio of 16.51, a PEG ratio of 3.47 and a beta of 1.06. Huntington Bancshares has a 52-week low of $12.02 and a 52-week high of $18.44.
Institutional Trading of Huntington Bancshares
Large investors have recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Huntington Bancshares by 10.3% in the 3rd quarter. State Street Corp now owns 79,474,115 shares of the bank's stock valued at $1,179,319,000 after acquiring an additional 7,439,909 shares during the last quarter. FMR LLC boosted its holdings in shares of Huntington Bancshares by 16.8% in the 3rd quarter. FMR LLC now owns 23,719,168 shares of the bank's stock worth $348,672,000 after purchasing an additional 3,410,597 shares during the period. Victory Capital Management Inc. raised its holdings in Huntington Bancshares by 13.2% during the 3rd 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 during the period. Point72 Asset Management L.P. lifted its position in Huntington Bancshares by 194.8% in 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. Finally, Charles Schwab Investment Management Inc. boosted its stake in Huntington Bancshares by 2.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 62,708,399 shares of the bank's stock worth $921,778,000 after buying an additional 1,522,767 shares during the period. Institutional investors own 80.72% of the company's stock.
Insiders Place Their Bets
In other news, VP Scott D. Kleinman sold 28,600 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $17.67, for a total transaction of $505,362.00. Following the completion of the transaction, the vice president now owns 496,076 shares in the company, valued at $8,765,662.92. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Helga Houston sold 6,455 shares of the business's stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $15.43, for a total value of $99,600.65. Following the completion of the sale, the insider now owns 558,342 shares in the company, valued at $8,615,217.06. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,699 shares of company stock worth $757,356. Corporate insiders own 0.89% of the company's stock.
Huntington Bancshares Announces Dividend
The company also recently announced 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. This represents a $0.62 annualized dividend and a yield of 3.61%. The ex-dividend date is Wednesday, December 18th. Huntington Bancshares's dividend payout ratio is currently 59.62%.
Huntington Bancshares Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Huntington Bancshares, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Huntington Bancshares wasn't on the list.
While Huntington Bancshares currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Click the link below and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
