Q3 2024 Earnings Estimate for Huntington Bancshares Incorporated (NASDAQ:HBAN) Issued By Wedbush

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Wedbush increased their Q3 2024 earnings per share estimates for Huntington Bancshares in a report released on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $0.34 per share for the quarter, up from their prior forecast of $0.32. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.21 per share. Wedbush also issued estimates for Huntington Bancshares’ Q4 2024 earnings at $0.36 EPS and FY2025 earnings at $1.45 EPS.

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

HBAN has been the topic of several other reports. Evercore ISI lifted their target price on shares of Huntington Bancshares from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Thursday. The Goldman Sachs Group raised their price objective on shares of Huntington Bancshares from $12.50 to $14.00 and gave the stock a “buy” rating in a report on Monday, December 18th. DA Davidson upgraded Huntington Bancshares from a “neutral” rating to a “buy” rating and increased their price target for the stock from $14.00 to $15.50 in a research report on Tuesday, February 27th. Royal Bank of Canada boosted their price objective on Huntington Bancshares from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, December 18th. Finally, UBS Group raised Huntington Bancshares from a “neutral” rating to a “buy” rating and lifted their price target for the company from $14.00 to $15.00 in a report on Wednesday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Huntington Bancshares currently has a consensus rating of “Moderate Buy” and an average target price of $13.72.

Huntington Bancshares Stock Performance

HBAN opened at $13.95 on Friday. The stock’s 50 day simple moving average is $13.01 and its 200-day simple moving average is $11.79. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73. The stock has a market cap of $20.23 billion, a PE ratio of 11.25 and a beta of 1.09. Huntington Bancshares has a 1 year low of $9.13 and a 1 year high of $13.97.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in HBAN. Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of Huntington Bancshares by 1.6% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 53,992 shares of the bank’s stock valued at $712,000 after acquiring an additional 830 shares in the last quarter. Guardian Wealth Management Inc. boosted its holdings in shares of Huntington Bancshares by 3.5% in the 1st quarter. Guardian Wealth Management Inc. now owns 24,852 shares of the bank’s stock valued at $363,000 after buying an additional 835 shares during the last quarter. Mather Group LLC. grew its stake in shares of Huntington Bancshares by 5.8% in the fourth quarter. Mather Group LLC. now owns 15,391 shares of the bank’s stock valued at $196,000 after buying an additional 837 shares in the last quarter. Financial Advocates Investment Management increased its holdings in Huntington Bancshares by 5.9% during the fourth quarter. Financial Advocates Investment Management now owns 15,325 shares of the bank’s stock worth $195,000 after buying an additional 856 shares during the last quarter. Finally, Buckingham Strategic Wealth LLC lifted its stake in Huntington Bancshares by 5.6% in the fourth quarter. Buckingham Strategic Wealth LLC now owns 16,183 shares of the bank’s stock valued at $206,000 after acquiring an additional 864 shares during the last quarter. Institutional investors own 80.72% of the company’s stock.

Insider Buying and Selling

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

Huntington Bancshares Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 18th will be issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Friday, March 15th. Huntington Bancshares’s dividend payout ratio (DPR) is presently 50.00%.

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.