Huntington Bancshares Incorporated (NASDAQ:HBAN – Get Rating) – Analysts at Jefferies Financial Group issued their Q1 2024 earnings per share (EPS) estimates for Huntington Bancshares in a research report issued on Tuesday, October 11th. Jefferies Financial Group analyst K. Usdin anticipates that the bank will post earnings per share of $0.38 for the quarter. The consensus estimate for Huntington Bancshares’ current full-year earnings is $1.46 per share. Jefferies Financial Group also issued estimates for Huntington Bancshares’ Q2 2024 earnings at $0.39 EPS, Q3 2024 earnings at $0.40 EPS and FY2024 earnings at $1.60 EPS.

Several other analysts have also issued reports on HBAN. Wedbush restated a “neutral” rating and set a $14.00 price target on shares of Huntington Bancshares in a research report on Wednesday, September 28th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Huntington Bancshares from $16.50 to $15.50 and set a “hold” rating for the company in a research note on Monday, September 12th. Argus upgraded shares of Huntington Bancshares from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Thursday, July 28th. Raymond James dropped their price objective on shares of Huntington Bancshares from $18.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 7th. Finally, JPMorgan Chase & Co. cut shares of Huntington Bancshares from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $17.50 to $14.50 in a research report on Friday, July 1st. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Huntington Bancshares presently has a consensus rating of “Hold” and a consensus price target of $15.13.

Huntington Bancshares Price Performance

Shares of NASDAQ HBAN opened at $13.03 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $18.79 billion, a PE ratio of 11.63 and a beta of 1.10. The stock’s 50 day moving average price is $13.67 and its 200-day moving average price is $13.36. Huntington Bancshares has a twelve month low of $11.67 and a twelve month high of $17.79.

Huntington Bancshares (NASDAQ:HBAN – Get Rating) last issued its earnings results on Thursday, July 21st. The bank reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.70 billion. Huntington Bancshares had a return on equity of 13.11% and a net margin of 25.58%. During the same quarter last year, the business posted $0.35 EPS.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Core Alternative Capital purchased a new position in Huntington Bancshares in the first quarter worth $25,000. Riverview Trust Co purchased a new position in Huntington Bancshares in the first quarter worth $27,000. Selective Wealth Management Inc. grew its position in Huntington Bancshares by 110.0% in the first quarter. Selective Wealth Management Inc. now owns 2,100 shares of the bank’s stock worth $31,000 after acquiring an additional 1,100 shares in the last quarter. Concord Wealth Partners grew its position in Huntington Bancshares by 72.0% in the second quarter. Concord Wealth Partners now owns 2,135 shares of the bank’s stock worth $26,000 after acquiring an additional 894 shares in the last quarter. Finally, Tyler Stone Wealth Management purchased a new position in Huntington Bancshares in the fourth quarter worth $35,000. Institutional investors own 79.77% of the company’s stock.

Insider Buying and Selling

In other news, Director Gary Torgow acquired 19,382 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were bought at an average price of $12.90 per share, with a total value of $250,027.80. Following the acquisition, the director now directly owns 893,301 shares in the company, valued at approximately $11,523,582.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Huntington Bancshares news, Director Gary Torgow bought 19,382 shares of the stock in a transaction on Wednesday, July 27th. The shares were acquired at an average price of $12.90 per share, with a total value of $250,027.80. Following the acquisition, the director now directly owns 893,301 shares of the company’s stock, valued at approximately $11,523,582.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Zachary Jacob Wasserman sold 11,618 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $14.36, for a total transaction of $166,834.48. Following the sale, the chief financial officer now directly owns 230,394 shares in the company, valued at approximately $3,308,457.84. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by company insiders.

Huntington Bancshares Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 19th were paid a dividend of $0.155 per share. The ex-dividend date of this dividend was Friday, September 16th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 4.76%. Huntington Bancshares’s dividend payout ratio (DPR) is currently 55.36%.

About Huntington Bancshares

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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 operates through four segments: Consumer and Business Banking; Commercial Banking; Vehicle Finance; and Regional Banking and The Huntington Private Client Group (RBHPCG).

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