What is DA Davidson’s Forecast for HBAN FY2024 Earnings?

Huntington Bancshares Incorporated (NASDAQ:HBAN) – DA Davidson increased their FY2024 earnings per share (EPS) estimates for Huntington Bancshares in a note issued to investors on Tuesday, October 22nd. DA Davidson analyst P. Winter now forecasts that the bank will post earnings per share of $1.22 for the year, up from their previous forecast of $1.21. DA Davidson has a “Buy” rating and a $17.50 price objective on the stock. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.18 per share.

A number of other brokerages have also commented on HBAN. StockNews.com upgraded Huntington Bancshares from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Piper Sandler boosted their price objective on shares of Huntington Bancshares from $14.00 to $15.00 and gave the stock an “underweight” rating in a report on Friday, October 18th. Sandler O’Neill reaffirmed a “buy” rating on shares of Huntington Bancshares in a research report on Friday, October 18th. Citigroup raised their price objective on Huntington Bancshares from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Barclays boosted their price target on shares of Huntington Bancshares from $15.00 to $17.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.03.

Huntington Bancshares Price Performance

NASDAQ HBAN opened at $15.54 on Thursday. The stock has a market capitalization of $22.52 billion, a PE ratio of 14.00, a P/E/G ratio of 2.77 and a beta of 1.04. The stock has a 50-day simple moving average of $14.68 and a 200 day simple moving average of $13.97. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.88 and a current ratio of 0.89. Huntington Bancshares has a twelve month low of $9.25 and a twelve month high of $16.03.

Huntington Bancshares (NASDAQ:HBAN) last announced its earnings results on Thursday, October 17th. The bank reported $0.33 EPS for the quarter, topping the consensus estimate of $0.30 by $0.03. The firm had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.86 billion. Huntington Bancshares had a net margin of 14.77% and a return on equity of 11.34%. During the same quarter last year, the firm posted $0.36 EPS.

Institutional Trading of Huntington Bancshares

Several hedge funds have recently bought and sold shares of HBAN. Boston Partners lifted its position in Huntington Bancshares by 20.4% in the 1st quarter. Boston Partners now owns 56,175,987 shares of the bank’s stock valued at $783,215,000 after acquiring an additional 9,533,511 shares in the last quarter. Victory Capital Management Inc. raised its position in Huntington Bancshares by 0.4% in the 2nd quarter. Victory Capital Management Inc. now owns 17,954,498 shares of the bank’s stock valued at $236,640,000 after buying an additional 65,355 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Huntington Bancshares by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 15,810,239 shares of the bank’s stock valued at $208,346,000 after acquiring an additional 561,565 shares in the last quarter. Hsbc Holdings PLC boosted its position in Huntington Bancshares by 9.5% during the 2nd quarter. Hsbc Holdings PLC now owns 6,519,505 shares of the bank’s stock worth $85,940,000 after acquiring an additional 566,015 shares during the last quarter. Finally, National Bank of Canada FI grew its stake 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 worth $46,927,000 after acquiring an additional 2,979,768 shares in the last quarter. 80.72% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Huntington Bancshares news, VP Brendan A. Lawlor sold 9,050 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the transaction, the vice president now owns 11,111 shares of the company’s stock, valued at approximately $167,331.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Huntington Bancshares news, insider Helga Houston sold 11,288 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was 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 of the company’s stock, valued at approximately $9,294,856.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brendan A. Lawlor sold 9,050 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $15.06, for a total value of $136,293.00. Following the sale, the vice president now directly owns 11,111 shares in the company, valued at approximately $167,331.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by insiders.

Huntington Bancshares Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 18th will be given a $0.155 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $0.62 dividend on an annualized basis and a yield of 3.99%. Huntington Bancshares’s payout ratio is 55.86%.

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.