Brokers Issue Forecasts for Huntington Bancshares Incorporated’s Q3 2024 Earnings (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN) – Equities research analysts at Wedbush upped their Q3 2024 earnings estimates for shares of Huntington Bancshares in a note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.34 per share for the quarter, up from their previous 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 announced its 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. Huntington Bancshares had a return on equity of 12.96% and a net margin of 18.00%. The firm had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the business earned $0.43 EPS.

A number of other research firms have also recently weighed in on HBAN. The Goldman Sachs Group boosted their target price on shares of Huntington Bancshares from $12.50 to $14.00 and gave the company a “buy” rating in a research note on Monday, December 18th. Citigroup boosted their price objective on Huntington Bancshares from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Royal Bank of Canada lifted their target price on shares of Huntington Bancshares from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Monday, December 18th. StockNews.com downgraded shares of Huntington Bancshares from a “hold” rating to a “sell” rating in a report on Friday, December 29th. Finally, Raymond James increased their target price on Huntington Bancshares from $13.00 to $15.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, December 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.72.

Huntington Bancshares Trading Up 1.2 %

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

Huntington Bancshares Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 18th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Friday, March 15th. This represents a $0.62 dividend on an annualized basis and a yield of 4.44%. Huntington Bancshares’s dividend payout ratio is presently 50.00%.

Insider Transactions at Huntington Bancshares

In related news, Director Ann B. Crane sold 58,000 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 192,247 shares in the company, valued at $2,603,024.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the vice president now directly owns 303,455 shares in the company, valued at $3,847,809.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann B. Crane sold 58,000 shares of the business’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $13.54, for a total transaction of $785,320.00. Following the sale, the director now directly owns 192,247 shares of the company’s stock, valued at approximately $2,603,024.38. The disclosure for this sale can be found here. Insiders have sold a total of 102,241 shares of company stock worth $1,360,359 in the last ninety days. Insiders own 0.89% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in HBAN. Vanguard Group Inc. raised its stake in Huntington Bancshares by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 172,069,244 shares of the bank’s stock worth $1,789,520,000 after acquiring an additional 1,209,264 shares during the period. BlackRock Inc. increased its stake in Huntington Bancshares by 0.5% in the 1st quarter. BlackRock Inc. now owns 137,586,195 shares of the bank’s stock worth $1,540,965,000 after buying an additional 652,310 shares in the last quarter. Boston Partners raised its holdings in Huntington Bancshares by 59.3% during the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank’s stock valued at $593,408,000 after acquiring an additional 17,365,446 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Huntington Bancshares by 0.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 45,744,281 shares of the bank’s stock worth $468,725,000 after acquiring an additional 245,025 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of 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 in 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.