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

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at Wedbush reduced their Q1 2024 EPS estimates for Huntington Bancshares in a research note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now forecasts that the bank will post earnings of $0.24 per share for the quarter, down from their prior estimate 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.

Huntington Bancshares (NASDAQ:HBAN) last posted its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.15. The firm had revenue of $2.76 billion for the quarter, compared to analyst estimates 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 business posted $0.43 earnings per share.

Several other analysts have also recently weighed in on HBAN. Citigroup increased their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Morgan Stanley increased their price target on shares of Huntington Bancshares from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Barclays upgraded shares of Huntington Bancshares from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $12.00 to $15.00 in a report on Tuesday, January 2nd. DA Davidson upgraded shares of Huntington Bancshares from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $14.00 to $15.50 in a report on Tuesday, February 27th. Finally, Royal Bank of Canada upped their price objective on shares of Huntington Bancshares from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, December 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Huntington Bancshares currently has an average rating of “Moderate Buy” and an average price target of $13.66.

Huntington Bancshares Stock Performance

HBAN opened at $13.79 on Thursday. The firm’s 50-day moving average price is $12.98 and its 200 day moving average price is $11.78. Huntington Bancshares has a twelve month low of $9.13 and a twelve month high of $13.80. 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 firm has a market capitalization of $20.00 billion, a PE ratio of 11.12 and a beta of 1.09.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of HBAN. American Century Companies Inc. grew its position in shares of Huntington Bancshares by 11.8% in the 1st quarter. American Century Companies Inc. now owns 189,174 shares of the bank’s stock valued at $2,765,000 after buying an additional 19,959 shares during the last quarter. D.A. Davidson & CO. acquired a new stake in shares of Huntington Bancshares in the first quarter valued at about $315,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of Huntington Bancshares by 309.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,001 shares of the bank’s stock valued at $146,000 after purchasing an additional 7,558 shares during the period. Panagora Asset Management Inc. lifted its stake in shares of Huntington Bancshares by 40.9% in the first quarter. Panagora Asset Management Inc. now owns 104,361 shares of the bank’s stock valued at $1,526,000 after purchasing an additional 30,296 shares during the period. Finally, Aviva PLC lifted its stake in shares of Huntington Bancshares by 58.2% in the first quarter. Aviva PLC now owns 798,754 shares of the bank’s stock valued at $11,678,000 after purchasing an additional 293,944 shares during the period. 80.72% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Huntington Bancshares

In other Huntington Bancshares news, 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 sale, the vice president now directly owns 303,455 shares of the company’s stock, valued at approximately $3,847,809.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Ann B. Crane sold 58,000 shares of the stock in a transaction 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 transaction, the director now directly owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Julie C. Tutkovics sold 15,541 shares of the stock in a transaction on 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 directly owns 303,455 shares in the company, valued at $3,847,809.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,241 shares of company stock valued at $1,360,359. Insiders own 0.89% of the company’s stock.

Huntington Bancshares Dividend Announcement

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