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Q2 2024 EPS Estimates for Huntington Bancshares Incorporated Decreased by Analyst (NASDAQ:HBAN)

Huntington Bancshares logo with Finance background

Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) - Equities researchers at Wedbush cut their Q2 2024 earnings per share estimates for shares of Huntington Bancshares in a report issued on Monday, June 24th. Wedbush analyst D. Chiaverini now expects that the bank will earn $0.28 per share for the quarter, down from their prior estimate of $0.30. The consensus estimate for Huntington Bancshares' current full-year earnings is $1.20 per share.

Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last announced its earnings results on Friday, April 19th. The bank reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. Huntington Bancshares had a return on equity of 11.99% and a net margin of 15.86%. The business had revenue of $2.85 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the company earned $0.38 EPS.

A number of other equities analysts have also commented on HBAN. Piper Sandler lowered shares of Huntington Bancshares from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $13.50 to $11.50 in a report on Friday, June 14th. Bank of America upgraded Huntington Bancshares from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $14.00 to $16.00 in a report on Monday, April 8th. DA Davidson raised Huntington Bancshares from a "neutral" rating to a "buy" rating and raised their price objective for the company from $14.00 to $15.50 in a report on Tuesday, February 27th. Jefferies Financial Group upgraded shares of Huntington Bancshares from a "hold" rating to a "buy" rating and increased their price target for the company from $14.00 to $16.00 in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. lowered their target price on Huntington Bancshares from $18.00 to $17.00 and set an "overweight" rating for the company in a research note on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Huntington Bancshares has an average rating of "Moderate Buy" and an average target price of $15.07.


View Our Latest Stock Analysis on Huntington Bancshares

Huntington Bancshares Price Performance

HBAN traded down $0.23 on Tuesday, reaching $12.75. The company had a trading volume of 20,257,642 shares, compared to its average volume of 16,922,334. Huntington Bancshares has a 52-week low of $9.25 and a 52-week high of $14.30. The company has a market cap of $18.48 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 2.37 and a beta of 1.08. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.88 and a current ratio of 0.88. The business has a 50 day simple moving average of $13.44 and a 200 day simple moving average of $13.14.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Monday, June 17th. Huntington Bancshares's payout ratio is currently 55.86%.

Insider Activity at Huntington Bancshares

In other news, VP Brantley J. Standridge sold 50,000 shares of the company's stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total transaction of $680,000.00. Following the completion of the sale, the vice president now owns 385,409 shares of the company's stock, valued at approximately $5,241,562.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Kendall A. Kowalski sold 15,711 shares of the firm's stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $13.84, for a total value of $217,440.24. Following the transaction, the insider now owns 65,195 shares of the company's stock, valued at $902,298.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brantley J. Standridge sold 50,000 shares of the business's stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $13.60, for a total value of $680,000.00. Following the transaction, the vice president now owns 385,409 shares of the company's stock, valued at $5,241,562.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,829 shares of company stock worth $2,148,623. 0.92% of the stock is owned by insiders.

Hedge Funds Weigh In On Huntington Bancshares

A number of hedge funds have recently modified their holdings of HBAN. QRG Capital Management Inc. purchased a new position in Huntington Bancshares in the 3rd quarter worth approximately $181,000. LPL Financial LLC lifted its holdings in shares of Huntington Bancshares by 1.5% in the third quarter. LPL Financial LLC now owns 2,813,547 shares of the bank's stock worth $29,261,000 after buying an additional 40,715 shares in the last quarter. Mariner LLC boosted its position in shares of Huntington Bancshares by 2.1% during the third quarter. Mariner LLC now owns 127,271 shares of the bank's stock worth $1,324,000 after acquiring an additional 2,561 shares during the last quarter. Stifel Financial Corp increased its holdings in Huntington Bancshares by 2.8% in the 3rd quarter. Stifel Financial Corp now owns 1,306,099 shares of the bank's stock valued at $13,583,000 after acquiring an additional 35,862 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in Huntington Bancshares by 5.5% in the 3rd quarter. Northern Trust Corp now owns 14,273,987 shares of the bank's stock valued at $148,449,000 after acquiring an additional 744,443 shares during the last quarter. 80.72% of the stock is currently owned by institutional investors.

About Huntington Bancshares

(Get Free Report)

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.

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Earnings History and Estimates for Huntington Bancshares (NASDAQ:HBAN)

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