Huntington Bancshares Incorporated Expected to Earn Q3 2024 Earnings of $0.34 Per Share (NASDAQ:HBAN)

Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) - Investment analysts at Wedbush increased their Q3 2024 earnings per share (EPS) estimates for Huntington Bancshares in a note issued to investors on Wednesday, March 27th. Wedbush analyst D. Chiaverini now expects that the bank will post earnings per share of $0.34 for the quarter, up from their prior estimate 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 - Get Free Report) last issued its quarterly earnings results on Friday, January 19th. The bank reported $0.27 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the previous year, the company earned $0.43 EPS.

Other analysts also recently issued research reports about the stock. Morgan Stanley raised 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. Raymond James upped their price target on Huntington Bancshares from $13.00 to $15.00 and gave the stock a "strong-buy" rating in a report on Tuesday, December 26th. Barclays upgraded shares of Huntington Bancshares from an "underweight" rating to an "equal weight" rating and increased their target price for the company from $12.00 to $15.00 in a report on Tuesday, January 2nd. The Goldman Sachs Group boosted their price target 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. Finally, UBS Group upgraded shares of Huntington Bancshares from a "neutral" rating to a "buy" rating and increased their price objective for the company from $14.00 to $15.00 in a research note on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.72.

Huntington Bancshares Trading Up 1.2 %

HBAN stock traded up $0.16 during mid-day trading on Friday, reaching $13.95. The company's stock had a trading volume of 15,288,092 shares, compared to its average volume of 18,488,874. The company has a market cap of $20.23 billion, a price-to-earnings ratio of 11.25 and a beta of 1.09. Huntington Bancshares has a 12 month low of $9.13 and a 12 month high of $13.97. The business's 50 day moving average price is $13.03 and its 200 day moving average price is $11.81. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.73.

Huntington Bancshares Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, March 15th. This represents a $0.62 annualized dividend and a dividend yield of 4.44%. Huntington Bancshares's payout ratio is 50.00%.

Insider Activity at Huntington Bancshares

In other Huntington Bancshares news, VP Julie C. Tutkovics sold 15,541 shares of the 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 in the company, valued at $3,847,809.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ann B. Crane sold 58,000 shares of the business'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 transaction of $785,320.00. Following the completion of the transaction, 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 SEC, which is available through this hyperlink. Also, VP Julie C. Tutkovics sold 15,541 shares of Huntington Bancshares stock in a transaction that occurred 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 sale, 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. In the last three months, insiders have sold 102,241 shares of company stock worth $1,360,359. Company insiders own 0.89% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HBAN. Boston Partners grew its stake in shares of Huntington Bancshares by 59.3% in the fourth quarter. Boston Partners now owns 46,642,476 shares of the bank's stock worth $593,408,000 after acquiring an additional 17,365,446 shares during the period. Norges Bank bought a new stake in shares of Huntington Bancshares in the fourth quarter worth $206,703,000. First Trust Advisors LP lifted its stake in shares of Huntington Bancshares by 359.4% in the 1st quarter. First Trust Advisors LP now owns 18,947,586 shares of the bank's stock worth $212,213,000 after purchasing an additional 14,823,508 shares during the period. Schonfeld Strategic Advisors LLC increased its holdings in Huntington Bancshares by 2,536.9% during the first quarter. Schonfeld Strategic Advisors LLC now owns 5,936,016 shares of the bank's stock valued at $66,483,000 after buying an additional 5,710,903 shares during the last quarter. Finally, KBC Group NV raised its position in Huntington Bancshares by 715.0% in the fourth quarter. KBC Group NV now owns 4,251,631 shares of the bank's stock worth $54,081,000 after acquiring an additional 3,729,974 shares during the period. Institutional investors own 80.72% of the company's stock.

About Huntington Bancshares

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.