Huntington Bancshares Incorporated Forecasted to Earn Q1 2024 Earnings of $0.24 Per Share (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Analysts at Wedbush cut their Q1 2024 EPS estimates for shares of Huntington Bancshares in a research report issued on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings of $0.24 per share for the quarter, down from their prior forecast of $0.28. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.21 per share. Wedbush also issued estimates for Huntington Bancshares’ Q1 2025 earnings at $0.35 EPS, Q2 2025 earnings at $0.36 EPS, Q3 2025 earnings at $0.37 EPS and Q4 2025 earnings at $0.37 EPS.

Other equities analysts have also recently issued reports about the stock. Raymond James upped their price target on shares of Huntington Bancshares from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, December 26th. Citigroup upped their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Barclays raised shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $12.00 to $15.00 in a research note on Tuesday, January 2nd. DA Davidson upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $14.00 to $15.50 in a research report on Tuesday, February 27th. Finally, Morgan Stanley boosted their price objective on shares of Huntington Bancshares from $13.00 to $16.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seven 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 target price of $13.66.

Huntington Bancshares Stock Performance

Shares of HBAN opened at $13.79 on Thursday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $20.00 billion, a P/E ratio of 11.12 and a beta of 1.09. The company’s fifty day moving average is $12.98 and its two-hundred day moving average is $11.78. Huntington Bancshares has a 1 year low of $9.13 and a 1 year high of $13.80.

Huntington Bancshares (NASDAQ:HBAN) last announced its quarterly earnings data on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.15. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Huntington Bancshares had a net margin of 18.00% and a return on equity of 12.96%. During the same period in the previous year, the company posted $0.43 EPS.

Huntington Bancshares Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date of this dividend is Friday, March 15th. Huntington Bancshares’s dividend payout ratio is currently 50.00%.

Insider Activity

In other news, VP Julie C. Tutkovics sold 15,541 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total transaction of $197,059.88. Following the completion of the transaction, the vice president now owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Huntington Bancshares news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $13.54, for a total value of $785,320.00. Following the completion of the sale, the director now owns 192,247 shares of the company’s stock, valued at $2,603,024.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $12.68, for a total value of $197,059.88. Following the transaction, the vice president now owns 303,455 shares of the company’s stock, valued at $3,847,809.40. The disclosure for this sale can be found here. Insiders sold a total of 102,241 shares of company stock valued at $1,360,359 in the last 90 days. 0.89% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

Several institutional investors and hedge funds have recently made changes to their positions in HBAN. Vanguard Group Inc. lifted its stake in Huntington Bancshares by 0.7% during the third quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock worth $1,789,520,000 after purchasing an additional 1,209,264 shares during the last quarter. BlackRock Inc. lifted its stake in Huntington Bancshares by 0.5% during the first quarter. BlackRock Inc. now owns 137,586,195 shares of the bank’s stock worth $1,540,965,000 after purchasing an additional 652,310 shares during the last quarter. Boston Partners lifted its stake in Huntington Bancshares by 59.3% during the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock worth $593,408,000 after purchasing an additional 17,365,446 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Huntington Bancshares by 0.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock worth $468,725,000 after purchasing an additional 245,025 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Huntington Bancshares by 5.0% during the first quarter. Geode Capital Management LLC now owns 31,820,975 shares of the bank’s stock worth $355,630,000 after purchasing an additional 1,516,892 shares during the last quarter. 80.72% of the stock is currently owned by hedge funds and other institutional investors.

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.