Huntington Bancshares Incorporated (NASDAQ:HBAN - Free Report) - Equities researchers at DA Davidson raised their FY2024 earnings per share estimates for Huntington Bancshares in a note issued to investors on Tuesday, October 22nd. DA Davidson analyst P. Winter now anticipates that the bank will earn $1.22 per share for the year, up from their previous forecast of $1.21. DA Davidson currently has a "Buy" rating and a $17.50 target price on the stock. The consensus estimate for Huntington Bancshares' current full-year earnings is $1.18 per share.
HBAN has been the subject of several other research reports. Evercore ISI lowered their price target on Huntington Bancshares from $17.50 to $17.00 and set an "outperform" rating for the company in a report on Wednesday, October 2nd. Bank of America increased their target price on shares of Huntington Bancshares from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Monday, July 22nd. Citigroup raised their target price on shares of Huntington Bancshares from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Monday, July 22nd. Piper Sandler raised their price target on shares of Huntington Bancshares from $14.00 to $15.00 and gave the company an "underweight" rating in a report on Friday, October 18th. Finally, Baird R W downgraded Huntington Bancshares from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Huntington Bancshares currently has a consensus rating of "Moderate Buy" and an average price target of $16.03.
Read Our Latest Stock Analysis on Huntington Bancshares
Shares of Huntington Bancshares stock opened at $15.54 on Thursday. Huntington Bancshares has a fifty-two week low of $9.25 and a fifty-two week high of $16.03. The business's fifty day moving average is $14.68 and its two-hundred day moving average is $13.97. The company has a quick ratio of 0.88, a current ratio of 0.89 and a debt-to-equity ratio of 0.96. The firm has a market cap of $22.52 billion, a PE ratio of 14.00, a P/E/G ratio of 2.77 and a beta of 1.04.
Huntington Bancshares (NASDAQ:HBAN - Get Free Report) last released its quarterly earnings results on Thursday, October 17th. The bank reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.03. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. The company had revenue of $1.89 billion for the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the company earned $0.36 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 18th will be paid a $0.155 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $0.62 annualized dividend and a dividend yield of 3.99%. Huntington Bancshares's payout ratio is 55.86%.
In other news, insider Helga Houston sold 11,288 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.02, for a total value of $169,545.76. Following the completion of the transaction, the insider now directly owns 618,832 shares in the company, valued at $9,294,856.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Brendan A. Lawlor sold 9,050 shares of the company's stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $15.06, for a total value of $136,293.00. Following the completion of the sale, the vice president now owns 11,111 shares in the company, valued at approximately $167,331.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Helga Houston sold 11,288 shares of the company's stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $15.02, for a total value of $169,545.76. Following the completion of the transaction, the insider now owns 618,832 shares in the company, valued at $9,294,856.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company's stock.
A number of institutional investors have recently modified their holdings of the stock. Boston Partners raised its holdings in shares of Huntington Bancshares by 20.4% during the first quarter. Boston Partners now owns 56,175,987 shares of the bank's stock worth $783,215,000 after acquiring an additional 9,533,511 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of Huntington Bancshares by 832.7% during the 1st quarter. National Bank of Canada FI now owns 3,337,625 shares of the bank's stock valued at $46,927,000 after buying an additional 2,979,768 shares during the last quarter. Scout Investments Inc. bought a new stake in shares of Huntington Bancshares in the 1st quarter valued at approximately $35,428,000. Point72 Asset Management L.P. increased its holdings in Huntington Bancshares by 194.8% in the second quarter. Point72 Asset Management L.P. now owns 3,203,789 shares of the bank's stock worth $42,226,000 after buying an additional 2,116,839 shares during the last quarter. Finally, AMF Tjanstepension AB bought a new position in Huntington Bancshares during the first quarter valued at approximately $24,100,000. Institutional investors and hedge funds own 80.72% of the company's stock.
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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